We are a young and enthusiastic team of game developers, designers, architects, testers, and Sports Fanatics, who have a passion for everything sports and mobile games. We strongly believe that sports will bring good to the world by uniting people with great leadership. At Fanworld, we aspire to become one of the best, innovative game studios in the world.
Faworld is a blockchain & cloud based mobile gaming platform suitable to publish games for Sports Fans. We published two games in 2021 first qtr and few more games at the storyboard stage. We are planning to publish Fantasy Sports, Trivia, Puzzle Contests, Legalized Sports Betting, Simulated Sports, iGames type of games.
Games developed with the Fanworld platform are unique, we integrate engagement with key revenue generation touchpoints, including e-sports, sponsorships, ticketing, events, and e-commerce. Backed by a solid AI-powered engine the platform provides personalized games, fantasy sports, hyper-casual games, in-game engagement, betting, and social networking options. Our aim is to become one of the leading unified platforms for gaming & fan engagement and grab a sizeable share of the global gaming market which will cross $200 billion by 2023. Through this platform, we seek to develop the most creative and valuable gaming experience for sports fans and help corporate brands to expand their reach and visibility.
The Market and the Opportunity
There are 650 million mobile game users in India, of which 67% are aware of fantasy gaming apps but just 10% have adopted them. This shows the huge untapped market potential. Fanworld with its AI-powered engine, local language functionalities, fantasy games and social engagement features is well-placed to attract new users, who are mostly based out of Small Towns & Rural communities.
Since the launch of the App Store in 2008, mobile games have been the dominant force in the app industry. It is one of the healthiest app industries, generating over $50 billion per year in sales. With millions of games in the app stores, and over a thousand more being added each year, mobile games have become a turn-key business. As of 2020, mobile is the fastest-growing games segment and games represent about 10% of the amount of time spent on apps by users. On average each US mobile device has 8 mobile games installed and smartphone users play an average of 2 to 5 games per month. Globally, it is estimated that there are 2.7 billion gamers. They will spend $159.3 billion on games in 2020 and the market will cross $200 billion by 2023. Mobile games are likely to generate revenues of $77.2 billion in 2020 and it is growing at a rate of 13.3 % Y-o-Y.
Apart from 20% commission on each game transaction, we will have in-game advertising revenue.
Globally, it is estimated that there are 2.7 billion gamers. The global mobile game market grew 19.6% to $174.9 billion in 2020. The market will grow to $217.9 billion by 2023. The market is expected to reach a value $287.1 Billion by 2026, exhibiting a CAGR of 9.24% during 2021-2026.
Competition, Risks & Mitigation
Mobile gaming is a multi-billion-dollar business globally. However, to gain the attention of customers, one has to stand out. We offer greater engagement and an exciting experience to sports fans to stay ahead of the curve. Our apps make it extremely interactive and lively to play sports.
Our fantasy gaming apps allow newbie and veteran players to indulge in their favorite sports by allowing them to create imaginary teams for a particular game that is made up of real professionals and earn real cash, based on the actual performance of the players. Our gaming apps are easy to use. All our gaming apps have simple and intuitive UI with smart sorting options. The apps are designed so well that players can easily switch between games.
Apart from English, we offer games in multiple local languages like Spanish, Hindi, Bengali, Arabic, and most spoken languages in the world. Our innovation-driven by AI engine powers various games, trivia battles, and tournaments along with fantasy to keep sports fans engaged.
GO TO MARKET STRATEGY
We are in talks with some of the cricket leagues in India for partnerships. We are also in advanced stages of discussions with a few food and beverage brands for in-game advertising. Fanworld’s marketing strategy rests on the belief that its products and services can add substantial value to the existing fantasy gaming market. We intend to create a marketing splash by utilizing all the available digital channels. We will be placing paid advertising on all social media platforms apart from roping in social influencers to popularize it among youngsters and build trust.
FUNDING & UTILIZATION
We are a bootstrapped venture. Founders own 100% equity as of now. We are planning to raise $2M through Pre-series A funding. 64% of the money will be utilized for marketing and acquiring new users, the rest is for game development. We aim to close the current round by July 2021
Our revenues come from in-game Ads and user transactions with 20% commission
Q2 FY21 101,571 users and $ 14,626 revenues
Q1FY22 8,97,525 retained users and $8,97,525 revenues
Q4 FY23 $10+ million revenues and 3,149,614 users
We rely on the best people to craft unforgettable games. Fanworld Platforms is founded by a passionate group of people who combine technological innovation with creative excellence to build mobile applications and games with sports content, original IPs, and mass-market appeal. With a collective experience of 200+ Years, 50+ Mobile Apps & Games, and with a bunch of IIIT Grads in an average age group of 28, passionate about Gaming, Sports & E-Sports, we understand the market and the user group to really take it to the next level.
1. Rajesh Vankayalapati – Global Head, Product & Growth
2. Raja R Hariharan – India Head, Product Manager
3. Ishahak Sharif – Sports Games Innovation
4. Raju Bolli – Gaming Platform Architect
5. Varun Vudutha – Gaming Developer
6. Pavan Naga – Game Marketing, Growth Hacker
1. Srinivasa Rajnikanth – iGames, Poker, Casino, Sports Betting Industry
2. Sreedhar Patibandla – Payment, Fintech for Gaming
3. Ravi Lakhotia – Gaming Industry Technology Leader
4. Srinivasa Murthy – Gaming Industry Legal Expert
Game Development Processes
We are a young and enthusiastic team of game developers, designers, architects, and testers. Game designers dream up, research, and conceptualize the games and the developers create the magic by converting these ideas into codes. Our testers analyze these games thoroughly and fix the bugs to ensure that the users get an exciting experience every time they play our games. We also test it among users to understand the pulse of the market. We believe in getting people behind our mission, who can contribute with expertise and best practices. All this support, insight, knowledge that we can get from our core group of people help us build great games. There are so many different groups and demographics with different needs, wants asks, and expectations. And that is what Fanworld is looking to explore. Every small niche is that big opportunity that can create multi-million dollar hits. We focus on developing games that have a compelling storyline to hook gamers in till the end. For us, every game development starts with research. We want to give the gamer a solid reason to play the game every day. At Fanworld, we make sure to continuously add new features, content, characters, or levels to the game in the form of new updates and extensions. We present gamers constantly with new rewards and challenges. These rewards not only encourage the players to come back for more but also minimize their possibilities of getting bored with the game itself.
No matter what kind of mobile game we are developing, we keep ourselves updated with the latest technologies and trends. Our focus is on generating IPs. One of the areas that we are working on is the increased adoption of AR and VR in games.
We try to personalize and customize games to enhance interactivity and user engagement. Stunning UI/UX and cross-platform games are the hallmarks of our company.
Gaming Platform & Games Summary
FanKick is our trivia gaming app. With FanKick, there is never going to be a dull day in your life. We have games for all segments of the population. Our app is a testimony to the fact that great technology advances are possible with gaming apps. With have a laser-like focus on three areas: a user-friendly interface, relevant local content, and social interactivity. While others create games, we develop concepts. Game winners receive cash prizes.
. Daily Sports Trivia Leagues
· Casual Games & Contests
· Trivia Battles, Challenges, and Tournaments
· Daily Leagues & Game Day Specials
· Freeplay and Real Money
It is a fun, interactive, easy-to-use fantasy app that provides an unmatched user experience for sports enthusiasts. It offers sports fans an opportunity to test their knowledge of a game, flaunt it among friends and family and win daily cash prizes. It allows fans to choose the sport, create their own leagues and then participate in each match in real-time. An app made for local Indian users Fanstrike combines the power of digital technology and Artificial Intelligence (AI) to offer personalized games in local Indian languages.