FanHub, a Play-to-Earn Game, Acquires £215,845 via Seedrs

FanHub, a play-2-earn game bringing an “extremely engaged” community to Web3, has secured 86% (£215,845) of its £250,008 target from 140 investors (at the time of writing) via Seedrs with 24 days left in the firm’s crowdfunding campaign.

Located in London, FanHub operates in the Finance & Payments sectors (Digital B2C). Incorporated in August 2018, the firm reports a £5.4M pre-money valuation.

Other details are: Equity offered is 4.44%; a £41.31 share price; EIS; tax relief.

Here are the key business highlights shared by the firm:

  • Distributed 3400 free match tickets to our community this season
  • Reached 9th in the App Store’s top 200 sports apps in Dec 21
  • Stonegate partnership enables fans to claim free beer at 400 pubs
  • Reached 34k downloads organically (no paid ads) since Feb 21

Key features are as follows: Secondary Market; Seedrs nominee min. £41.31 +.

As noted in the update:

“If you’re a sports fan, or know one, can you imagine the impact of a free app that rewarded fans with free tickets, beer and merchandise for following their team?FanHub is that app and perhaps unsurprisingly, it’s gone exactly as you might expect…”

The update also mentioned:

“That’s the App Store’s top 200 sports apps on a Saturday afternoon in December with our bootstrapped product and an executive team of two and a half (our part-time social media manager is a final year student!) competing with the official apps of BBC Sport, the Premier league, Formula 1 and the marketing budgets of the UK’s top betting firms.”

The FanHub app was “launched in February 2021 and to date ]they’ve] achieved over 34,000 downloads representing over 800% growth in the last 8 months.”

In an industry where many stakeholders seek to monetize fans to the point where they feel exploited, they “saw the opportunity to build the brand that is on their side.”

It’s now a community “with a cause growing faster than [they] could have imagined.”

As explained in the update, FanHub are “creating a token economy to enable fans to earn as they follow their team.”

Their revenue model is “to charge commissions on all transactions that take place within our ecosystem.”

Fans earn tokens “as they follow their team through the app.”

Those earnings may “be significantly boosted by owning NFTs found in “mystery packs”, which are also gained through using the app.”

Therefore if “a user receives an NFT in the game, they either have the option of utilising it themselves to boost their earnings for a limited period of time, or selling it on a secondary market place.”

As an example, Dave is “used to earning £4 in tokens for the matches he attends and then receives an NFT boost in a mystery pack which would result in a 5X boost for the next ten games.”

However rather than using this himself, he “sells the NFT boost for £60 on the market place to Lucy.”

Lucy “uses the boost to increase her earnings to £20 per game.”

In this example, FanHub would “earn 10% commission on each transaction.”

  • Dave’s £4 earnings generate 40p revenue per game.
  • The NFT sale generates £6 revenue.
  • Lucy’s £20 earnings generate £2 revenue per game for the next ten games.

This example “results in three transactions from two users from one round of matches, generating £8.40 revenue.”

FanHub already “have 34,000 registered users and each team will play approximately 50 matches per year just in the UK.”

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