Thirty years ago, advertisers would buy time on NBC and hope that viewers didn’t nod off or go the washroom while the ad was playing.
The eye-balls paid for were not the eye-balls delivered.
Commercial avoidance technology (PVRs) further severely damaged that model.
Social media platforms like Facebook are successful in part because the viewer is actively engaged. Reading updates. Leaving comments. Uploading photos. “Liking” other posts etc.
GameOn’s (GET.C) predictive gaming technology ramps up the concept of interactivity – converting passive fans into active Super-Fans.
On July 13, 2021 GameOn announced a partnership with NFT platform Blockparty to launch a first-of-its-kind NFT Predictor product.
GET provides broadcasters, TV networks, OTT platforms, leagues, tournaments and sportsbooks with interactive, social experiences around sports, television and live events.
Blockparty has enabled the creation of a new class of digital collectibles across art, music, and sports to enable creators and collectors to share and earn value together.
Ask someone over 50, “What is a “Non-fungible Token”?” – they might hazard a guess: “A mold-free plastic coin that gets you on the subway?”. But that ain’t it.
“Non-fungible tokens (NFTs) have exploded out of the ether this year,” reports Forbes.
“An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos,” continues Forbes, “They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos”.
“Essentially, NFTs create digital scarcity,” confirms Arry Yu, chair of the Washington Technology Industry Association Cascadia Blockchain Council.
“NFTs and digital collectibles exploded into culture, particularly sports, in early 2021 thanks to the popularity of NBA Top Shot, where users would unpack, collect and trade basketball highlights called Moments,” states GET, “A LeBron James’ dunk made headlines in April when it sold for more than $387,000 in NBA Top Shot’s peer-to-peer marketplace.
“At GameOn, we power the best content in the world with the most innovative predictive gaming technologies in the world,” stated Matt Bailey, GameOn CEO.
“Predictive gaming is a way of giving superfans, a super engaging experience,” Bailey told Equity Guru, “Take reality TV as an example, a space we’re actively in, “Before the TV show, you can enter predictions like: what color dress will a certain cast member will be wearing? Who will receive a rose?”
“The best predictors could win money-can’t-buy-prizes like a meet-and-greet with their favorite cast members or tickets to a live airing of the show. Predictions keep you engaged,” added Bailey.
One of GameOn’s most important features is that it is, “zero lift” for its partners.
“The production teams of our partners don’t have to do anything,” explains Bailey, “Being programmatic and automatic is a powerful selling point to the partners we’re working with. Our engine writes, results and distributes prizing, requiring no human production.”
“By harnessing the power of non-fungible tokens (NFTs) and blockchain technology, sports and entertainment rights holders can now turn their digital collectibles into valuable assets to be collected, traded and utilized by fans via a unique predictive gaming product that brings them closer to their favorite sports, TV and live events,” states GET.
“We’re bullish that utility is paramount in any successful collectibles experience,” stated Bailey, “IP holders are demanding new ways to harness blockchain technology and digital collectibles, not just minting and selling NFTs.”
“Our predictive gaming platform that’s built, tested and in the market, allows the gamification of NFTs and helps IP holders create a more rewarding, authentic and engaging experience for their fans whether it’s for sports, TV or live events,” added Bailey.
Completed collections of high-value NFTs can then be traded in for real-life rewards including tickets, merchandise and other exclusive offerings.
GameOn will leverage Blockparty’s platform to issue NFTs on the blockchain, allowing content partners to add permanent, tamper-proof watermarks to the collectibles to ensure legitimacy.
This will give fans, creators and collectors a way to validate the collectible’s rarity and authenticity while using them as a utility in predictive gaming.
“Our mission is to empower brands to form deeper connections with their communities and fans through digital collectibles,” said Vladislav Ginzburg, CEO of Blockparty. “We’re so excited to partner with GameOn, a company as equally passionate about utility-driven NFTs, to give sports and entertainment rights holders the opportunity to use digital assets in a first-of-its-kind game experience while driving deeper engagement between fans and their favorite content.”
Digital collectibles continued to grow in popularity as brands, organizations, athletes and celebrities including Taco Bell, Patrick Mahomes, Nike, Lindsay Lohan and Pringles released NFTs.
“Not only does the NFT Predictor product extend fan engagement for IP holders, but it creates a much greater opportunity from a revenue-share standpoint as NFTs perpetually generate revenue when they’re bought and resold,” Bailey said.
“We aren’t an NFT company or a blockchain company, and this isn’t another version of NBA Top Shot,” added Bailey, “This is another innovative string in our bow that helps us on our mission to empower the most-watched content with the world’s most innovative predictive gaming technologies.”
GameOn has a dynamic and experienced management team led by its CEO, Matt Bailey (Brooklyn Nets, Barclays Center) and Chief Product Officer, Santi Jaramillo (Dapper Labs, NBA Top Shot, EA Sports), as well as its Directors, J Moses (Take-Two Interactive), Shafin Tejani (Victory Square Technologies), Liz Schimel (Apple News) and Carey Dillen (YYoga).
GameOn’s value proposition is significantly de-risked by a partnership with Victory Square Technologies (VST.C) – a tech incubator that “builds, acquires and invests in promising start-ups, then provides the senior leadership and resources needed to fast track growth”.
VST targets the 4th Industrial Revolution with a portfolio of 20 global companies using AI, VR/AR and blockchain.
“With real skin in the game, we’re committed to ensuring each company in our portfolio succeeds,” states VST. “Our secret sauce starts with selecting start-ups that have real solutions, not just ideas.”
VST owns almost 60% of GameOn.
Last spring, GameOn closed a $5.8 million oversubscribed financing.
“Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork,” confirms Forbes.
The NFT Predictor, spearheaded by Santiago Jaramillo, former Head of Sports at Dapper Labs (NBA Top Shot), enables fans of rights holders who partner with GameOn to build up their collection by acquiring NFTs-images, video or audio-by either purchasing packs or via a marketplace.
From there, they leverage those assets to make predictions about upcoming events and are rewarded with exclusive NFTs for finishing high on the leaderboard.
– Lukas Kane
Full Disclosure: GameOn is an Equity Guru marketing client.