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Blockchain-based Fan Engagement Platform Fanzee Raises $2M In Funding

Finance

cryptodaily.co.uk 26 July 2022 12:50, UTC
  
Reading time: ~3 m

Image source: Fanzee

Fanzee, a TON blockchain-based fan engagement startup that’s aiming to strengthen ties between sports clubs and their supporters through gamification, said today it has closed on a $2 million pre-seed funding round. 

The funding was led by TONcoin.fund, a $250 million ecosystem fund, and saw participation from the likes of First Stage Labs, MEXC Pioneer, KuCoin Ventures, Huobi Incubator, VLG.Digital, 3Commas, Orbs.com and Hexit.capital, a part of Swiss based Hemma Group.

Fanzee’s engagement platform uses decentralized technologies such as blockchain, NFTs and cryptocurrency to enable sports clubs to deliver experiences such as quizzes, games, puzzles and other challenges that can help to boost their interactions with fans and improve loyalty. Its platform includes a complete set of technologies that enable clubs to integrate these capabilities with their own digital ecosystems. 

Fanzee explains on Telegram that its challenges come in many forms, providing fans with opportunities to earn rewards by collecting digital assets, taking part in quizzes, making bets on the outcome of matches, and playing various mini-games offered by their clubs. For example, a sports club could offer its own fantasy league where its fans compete against one another to pick the best team. 

With Fanzee’s platform, sports clubs will be able to create digital assets such as their own digital coin and NFTs, which can then be distributed among fans as prizes and rewards. The NFTs can even have strong utility, functioning as a match day ticket perhaps, or enabling holders to meet their favorite players. Fanzee also intends to create a marketplace for fans to trade these assets. 

Asked why TONcoin Fund was backing Fanzee, its Head of Diligence Mark Chadwick said he believes it has the potential to be a “chame-changer” for sports organizations, helping them to engage with fans in ways that weren’t possible before. 

“Some supporters are lucky enough to follow their club home and away throughout the season,” he said. “But for many, that is simply not possible due to geographic or financial constraints. Fanzee’s platform, with its gamification mechanics, will generate true value for sports organizations and their fans.”

Fanzee Chief Executive Ajay Jojo said he’s honored to see his company being backed by some of the brightest minds in the Web3 space, which believe in its mission to provide value to millions of sports fans through utility-based digital assets

“It is an exciting time to be at the forefront of innovation in the intersection of sports and blockchain technology where our values of being product- and fan-first will shine through,” Jojo promised. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice


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