Playible – NFT Fantasy Sports
- Client Playible
- Date 20 March 2023
- Product Cricket Fantasy
In an era marked by innovation, how do you merge the exhilarating world of cricket, the burgeoning landscape of blockchain technology, and the power of community engagement? This was the intriguing challenge that greeted me when I embarked on my journey with Playible, a next-generation NFT fantasy sports platform.
My role as a consultant for their cricket product was to help them navigate this complex confluence and create an offering that resonated with crypto-enthusiasts, cricket fanatics, and the vast, untapped market in between. This adventure took me on a thrilling ride through product development, test marketing, and fundraising strategies, all set against the backdrop of a rapidly evolving crypto-sport landscape. Join me as I unravel this compelling story of innovation, adaptation, and constant evolution.
1. Product Development
I embarked on this journey with Playible as a consultant for their cricket product. Playible, a next-generation NFT fantasy sports platform, has set an ambitious goal to bridge the gap between Web3 technologies and traditional gaming markets. Their model offers free-to-enter fantasy sports contests with tangible cryptocurrency prizes, and it’s been an exciting ride helping them realize this vision.
The real challenge, however, was how to marry the complexities of the crypto-world with the simplicity required by traditional gaming enthusiasts, particularly in the context of cricket—a sport deeply woven into the Indian ethos. The aim was to build a product that would resonate with both crypto-enthusiasts and cricket fanatics, and a seamless UI/UX played a vital role in this mission.
While developing the cricket product, we kept the focus on a user-friendly experience that was not overwhelmed by crypto-jargon. It was necessary to ensure that the essence of cricket was not overshadowed by blockchain technology. The balance was delicate, and through constant iterations and user feedback, we were able to create a product that found the sweet spot.
2. Test Marketing
Our product development journey led to an interesting marketing test campaign in India. The performance metrics provided us with fascinating insights into the diverse audience groups and their perception of Playible’s cricket product. As we extended our marketing reach, the order of conversion response helped us understand where our product resonated the most.
We discovered that a well-blended crypto, betting, and cricket audience displayed the most significant understanding and positive response. On the other hand, pure “cricket” groups demonstrated some hesitation towards crypto-related products, suggesting the need for more user education and awareness in this area.
The marketing campaign gave us key insights and potential growth opportunities. These ranged from understanding the need for multiple touchpoints, identifying a lack of cohesive online content, and emphasizing the pivotal role of UI/UX in audience engagement. It was also clear that low chain cost was crucial for attracting the Indian audience—a rapidly expanding market in the crypto world.
In the initial stages of our journey, Playible was primarily focused on the NEAR blockchain for fundraising and expanding their product. However, I believed that embracing a multichain vision would help build a more sustainable model for fundraising and product expansion.
I helped Playible to steer their ship towards this multichain dream. We developed a strategy that would leverage the interoperability of different blockchains. This would not only diversify our sources of funding but also allow us to tap into a broader audience base. By building our product to support multiple blockchains, we aimed to ensure that Playible’s offering would remain versatile, robust, and relevant, irrespective of the fluctuating dynamics of the crypto world.
The shift towards a multichain vision proved to be a game-changer. By moving beyond the singular focus on NEAR, we positioned Playible in a broader crypto landscape, significantly enhancing its fundraising potential and making the product more accessible to a diverse range of users.
This journey with Playible has been a fascinating ride, blending the thrilling worlds of cricket, blockchain technology, and marketing strategy. As we move forward, I’m eager to see how Playible continues to evolve and make its mark in the realm of next-gen fantasy sports.