Vijay Varma,Co-founder & CEO
For any game or sport, it is important to methodically know the process of building a profitable business model in an efficient way by understanding the core aspects of the game rather than just investing dollars in buying customers and squeezing out money from them. Team PlayFantasy is a staunch believer of this strategy. A skill-based daily fantasy sports platform for serious gamers with close to real-match scoring, Play Fantasy is initiated by Algorin Techlabs, a company that specializes in Gaming, Real Money Gaming, Social Games, and highly scalable platforms
Play Fantasy has unique variants like 3070 and Innings Fantasy where one can play and win more from a single match. “Our cash-back bonus system is also unique that motivates users to refer and also deposit and get more value for every rupee they spend. Coming from a core technology background, we were able to build a robust product which never crashed so far. Even on IPL Finals, we saw 8 x traffic,
"Play Fantasy’s cash-back bonus system motivates users to refer and also deposit and get more value for every rupee they spend"
The Ideation of Algorin Techlabs
India is a sport loving country and cricket is a religion as everyone knows. A major percentage of cricket fans who watch IPL matches might not have touched a bat or a ball in their life but they still enjoy someone hitting a six or taking a wicket. IPL is more of an entertainment platform than just cricket. Vijay and his partner Abhishek Bharti seized this opportunity to simulate the same emotional experience to every sports fan by stepping in their shoes, understanding their emotional highs and lows and providing the right engagement and entertainment value to every rupee they spend on a platform. This marked the beginning of Algorin and since then there was no looking back.
Crossing the hurdles during the course, the company, over a period of time has managed to launch the platform and product on the 100th day since its formation. “We are into our 5th month now and it’s been a great experience so far. Especially our retention numbers are so encouraging. So far, every fantasy
To engage the millennial swarm and create a long-term value, the company lets the players socialize with their friends and family on the platform. It enables its affiliates handhold each user’s journey from understanding the portal till spending long hours by providing a genuine trust and security. “We enable our users to blog and opinionate and discuss teams and skills on our forum,” he says.
The Future Endeavours
Having built a customer base all organically, Play Fantasy’s per user breakeven is fast. The focus as of now is in India. Going further, the Play Fantasy team has a roadmap set till the next Cricket World Cup 2019. In terms of Product, they have a couple of exciting and engaging variants ready to be launched by the end of December 2018. “We are planning to invest our efforts into building frameworks that understand the users better and deal each of them separately. Our target is to become an overall profitable organisation by the end of ICC WC 2019,” enthusiastically says Vijay.