In a rapidly changing media landscape, developing new ways to engage fans, particularly “superfans” is crucial for long-term success. GameOn Entertainment Technologies Inc. (CSE: GET) (OTCQB: GMETF) (FSE: 9E7), a Canada-based company that issued its IPO in June, has established itself as a leader in an increasingly crowded industry.
The company focuses on providing gamified white-lable technology solutions to their partners in the media, sports and entertainment industries. In the pursuit of delivering the true superfan experience, GameOn empowers their brand partners to connect with fans, make predictions, track live scores and be rewarded before, during and after every movement of their audiences favorite sports, TV shows and live events.
Through the use of gamification, fans can directly engage in sporting events, reality TV shows, the stock market, politics, and other major events. GameOn provides their partners with licensed software products that are developed in-house and rebranded for the associated partner, appearing as if it is their partners owned-product, strategically filling a gap in the current market. By providing fans with the option to do more than just simply watch digital content, as they might have in years past, GameOn has helped create a more immersive and enriching fan experience. As brands continue to enrich their relationships with their audience through GameOn technology, their forward-looking vision has already helped attract attention from investors and media partners around the world.
“We are fundamentally—and irreversibly—changing the ways that people consume their favorite media”, says Matt Bailey, CEO of GameOn, “Enjoying your favorite sports or tv shows no longer needs to be a passive experience. Now, you can directly engage and play with the content you are consuming and get rewarded for doing so.”
The company recognizes that simply utilizing new technologies, such as non-fungible tokens (NFT), is not enough to satisfy fans’ thirst for interaction—it also seeks to leverage these technologies to make the entire fan experience more engaging, bringing “elements of video games to content” such as “discovery, social engagement, achievement, recognition, and progression.”
GameOn’s increasingly expansive product line includes “prediction games, fantasy games, NFT-based games and adventure-like quests.” Fans of dating shows, like The Bachelor and related programs, can predict which of the show’s characters will be chosen (along with other events), allowing them to competitively accumulate points over time. In the sports world, fans can make predictions as well, from who they expect to win games to whether a free kick will become a goal, to everything in between.
“There really is no limit to the type of programs that can be gamified and the ways these programs can engage their global audiences,” says Bailey, noting that many of the company’s products use the same basic principles that have allowed some video games to develop such a loyal following. “And as early adopters and innovators, we are going to play a critical role in the future of gamification.”
Partnerships with Early Adopters
Though it has been just six months since GameOn issued a public offering, the company has already begun to establish key partnerships with early adopters and essential investors.
The company’s partnership with Chibi Dinos, an NFT series that is backed by current and former NBA players including Kendrick Perkins, RJ Hampton, and Michael Carter-Williams, is a mutually beneficial relationship that “guarantees GameOn $120,000 in revenue,” as well as a 50 percent revenue share on NFT sales. GameOn shows no signs of slowing down in the merger of gamification and the blockchain industry.
The company recently announced its partnership with Polygon ($MATIC) and Polygon Studios detailing support of up to 50% of GameOn’s ongoing product development costs. Polygon has welcomed millions into the Web3 ecosystem and has strategically made investments in other speculative cash-cows including DraftKings and DeFine, now adding GameOn to the impressive roster.
The enthusiasm for such a product has extended well beyond domestic borders, particularly in South Asia where cricket is the region’s most popular sport. During the predictor’s first three weeks of activity, more than two million predictions were made. By January 2022, GameOn expects the platform to receive more than six million predictions and have more than 200,000 active users. Securing an investment of US$6 million from Brand Capital International, India’s largest media conglomerate, over the next three years, both parties are optimistic for the growth and development of this partnership.
These early developments, among many others, have helped prove to potential investors that GameOn’s revenue-generating potential is not just theoretical—it is already in motion and has enabled the company to continue its ambitious expansion. In early December, the company acquired FanClash, a “real-time fantasy technology produced by London’s InPlay Labs.” These sorts of acquisitions, among others, will play a key role in the company’s pivot into the fantasy sports and esports marketplaces, which currently have a market value of nearly $20 billion and are expected to grow to about $50 billion by 2027.
Diversified Revenue Streams
GameOn’s long-term sustainability will depend on its ability to diversify its revenue streams. Currently, the company generates revenue in two primary ways: licensing and revenue share.
With regards to licensing, the company has begun collecting “upfront fees from partners to license our fan engagements technologies,” ensuring the collection of “recurring revenue from period to period, typically by season or annually.”
For revenue sharing, GameOn has established a “sharing upside in revenue generated from programmatic advertising, brand partners or sales,” which often results in revenue shares up to 50 percent that can generate “as much as seven-figures per partner annually.”
The combination of licensing and revenue sharing helps forge a diversified business model with a nearly unlimited upside. With more media companies and partners recognizing the possible benefits of gamification and direct fan engagement, there is strong potential for continual growth.
“By staying ahead of the curve and forming key partnerships early on, we will be well-positioned for sustained success, ” says Bailey.
Looking Towards the Future
GameOn anticipates that, over the next four years, the company’s revenue will increase about more than 2,000 percent, growing from a current annualized revenue of about $1 million to about $22,000,000. In addition to improving EPS and stock price, increased revenue will also help the company pursue future expansion opportunities and further diversify the engaging products it can provide.
Increased product diversification, the development of strategic partnerships, and bold thinking will all play a key role in the company’s future vision. GameOn recognizes that while certain types of fan engagements, platforms, and technologies might be on the public’s periphery today, they have the potential to quickly become a part of the mainstream consumer experience. That means more users, more revenue streams, and more opportunities for growth will emerge.
“It’s clear that the sports world, the media world, and the financial world are all moving in a very specific direction: increased digitization and meta-level engagement,” says Bailey, “We are beyond ecstatic to be a part of this exciting evolution and cannot wait to see what the next decade has in store.”