In order to compete with rivals like Dream11, (MPL), and several others, Ashneer Grover and his wife Madhuri Jain’s new business, Third Unicorn, has launched a fantasy sports app called CrickPe that focuses on cricket. This launch occurs before the Indian Premier League (IPL) competition, which will get underway the following week.
What is so special about CrickPe?
With CrickPe, players over the age of 18 may assemble a digital team of cricket players and participate in sponsored competitions to win cash awards based on how well they perform in actual matches. Additionally, people can set up private groups to play with a small number of pals and take part in competitions to earn prizes.
A 10% platform fee will be charged by CrickPe on all prize money for any public or private competition. The portal will also provide free competitions so users can practise and improve their abilities. CrickPe is presently letting users enter competitions for IPL matches that begin on March 31, 2023, with the goal of capitalising on the future IPL tournament.
What Ashneer is bullish on this sector?
Grover had said in a LinkedIn post that the business would only use “desi/self-earned capital” and have a staff of no more than 50 people. ZNL Growth Fund, the company’s seed investor, has contributed $4 million to the business.
Due to recent pandemic-related house confinement, India’s gaming industry has experienced unheard-of growth in terms of app downloads and revenue. As a result, Indian consumers are now more comfortable spending money on mobile games.
According to research on the gaming industry, revenue in the nation’s gaming industry climbed from $2 billion in FY21 to $2.6 billion in FY22 and is projected to rise at a compound annual growth rate of 27% to $8.6 billion in FY27.