In a quest to bring sport enthusiasts on a platform, where they can win real-money based on skills, a handful of fantasy gaming companies such as Dream11 and Mobile Premier League (MPL) have made entry into the ecosystem.
The fantasy gaming startups have received exponential growth in terms of user base and engagement in the past couple of years. Sensing this opportunity, ShareChat, a startup which has portrayed itself as a vernacular language social media app has made a foray into the fantasy sports space.
They believe this will help them monetise their already existing user base.
According to a TechCrunch report, ShareChat has launched a fantasy gaming platform called Jeet11, which is focused on cricket and football for now. The Twitter-backed company’s spokesperson has confirmed the development, the report added.
Diving into Jeet11’s terms and policy, it revealed that the company is owned and operated by Mohalla Tech Private Limited, the same entity which runs ShareChat. However, it runs as a separate app and does not disclose any association with ShareChat.
Jeet11 has been in testing mode for the past six months, and has amassed over 120,000 registered users. As of now, the app is only available on the web and through APK for android users.
ShareChat is also distributing Jeet11 through Xiaomi’s GetApps app store and promotes it on Instagram.
Like other fantasy gaming platforms, Jeet11 allows betting under legal rule framed by the Supreme Court which has classified it as a skill-based game. It is played by using sports knowledge and skills where users create their team and earn points based on the performance of chosen payers in real-life matches.
Like ShareChat, Jeet11 will also target the vernacular audience. Besides English and Hindi, the app is available in 13 regional languages including, Marathi, Gujarati, Bangla, and Rajasthani.
The startup restricts users from those states where gambling through a gaming platform is not allowed.
While ShareChat claims that a full roll out depends on the response from users, an entry into the fantasy gaming segment could be a potential game changer for the company which until now has been criticised for not being able to monetize its large user base.
The Ankush Sachdeva-led company has had no monetisation model so far, and posted zero operational revenue in the last fiscal.
Going forward, it would be interesting to watch the competition among Dream11, MPL and Jeet11, which have two things in common — a large customer base and renowned venture capitals as backers.
