MegafanWorld is an interact-to-earn metaverse for football (soccer) fans, based on the Stellar Blockchain. It aims to create an online community where fans from many different football clubs around the world can interact with their club and other fans and earn rewards for community participation.
MegafanWorld offers interactive games, sweepstakes, community engagement and voting, an NFT marketplace and fanroom, a newsfeed and a social media platform.
Football fans can interact with each other, set up a virtual fan room, play fun games, participate in raffles, open a fan wallet, vote on hot issues, and engage in many other virtual activities for football fans, depending on their interests. Utilising the “interact-to-earn” model, users are rewarded with voting tokens, NFT trophies, virtual or real-world prizes or other incentives for meaningful participation in MegafanWorld’s social media portal or as game rewards.
The platform offers fans a completely new way to interact with their club. This is primarily intended to appeal to a younger target group that is at home in virtual networks.
MegafanWorld has recently signed its first contract with a traditional German football club to join MegafanWorld. Starting in summer 2022, fans of this club will be invited to act as community beta testers and an NFT series will be released on the Stellar blockchain as part of the cooperation with the club. This is expected to attract the club’s fans to the platform and to prompt further football clubs to join.
One key goal of MegafanWorld is to cooperate with European football clubs to bring football fans who are not crypto-experienced as new users to the Stellar blockchain by providing an easy to-use web-based custodial wallet solution.
The business model is to encourage a large number of fans to make micropayments between 5 cent and 20 Euros for NFTs, digital merchandise or in-game purchase. Stellar is one of the few blockchains where such micropayments are viable, as most other major blockchains have gas fees that would be disproportionate.
Between 2016 and 2019, the company was active in the sale and marketing of physical football fan merchandise. This has generated a number of great partnerships and the company is well connected in the football world. Since 2020, the focus has been on the development of to the development of MegafanWorld,
We are currently in alpha stage, with the blockchain elements running on Stellar testnet. A working demo of the Metaverse is available at https://megafanworld.fdssoft.com/dashboard and a demo of the custodial wallet and NFT trading skin (via Stellar DEX) is available here: https://megafanworld-dex.fdssoft.com/
Our goals for the next 6 months are:
MegafanWorld has partnered with FDS Soft for the development of the MegafanWorld Metaverse. FDS Soft is highly experienced with WebApps and Blockchain development.
In order to reach our goals for 2022 and move MegafanWorld from the current alpha stage to production, we are looking to boost development in the following areas:
Problem: Untapped Potential of Fan Base
The perfect Solution for Clubs to monetise their fan base
MegafanWorld – The metaverse for football fans
Virtual Fan Room
Social network for football fans
3D fun games in MegafanWorld
Virtual fan shop with fan articles
Surveys, Votes, Raffles
Involvement of sponsors
Increasing fan activity and revenue
How Stellar is used in MegafanWorld
The principal revenue model is to facilitate micro-payments by users (using their Stellar based Fanwallet) for in-Metaverse purchases (game credit, NFTs, digital memorabilia) and offline purchases (physical merchandise, tickets). Revenue is shared between the partner clubs and MegafanWorld.
The financial success of the project largely depends on attracting active users and the average per-user monthly spend. User attraction is expected to principally arise from the pull of football clubs with large fanbases who join MegafanWorld. One contract with a traditional German football club has been signed, and there are active discussions with further clubs. Whilst the initial focus is on Germany, the model can be scaled to other countries such as the UK, Europe and Asia with large football fan bases.
After the beta launch in Summer 2022, we are targeting to have 5 German clubs join MegafanWorld by the end of 2022.
The expansion/scale point for the project occurs when a critical number of users and clubs have joined, creating a network effect.
We anticipate per user revenue to average around 10-20 Euros per month, which would be shared 50/50 between the company and participating clubs. We are aiming for 50,000 active users by the end of 2022, rising to 200,000 active users by the end of 2023. On this basis,we would exit 2023 with total revenue of 0.5-1 million Euros.
Development cost has been and will be the main expense item. Most revenue will initially be re-invested into further development. At this time, prior to network effect scaling, a Stellar Community Grant to kickstart further development would provide the necessary resources to get to go-live.
Social Media is becoming increasingly important for football clubs and clubs need to interact through many channels with their fans and different target groups. One example is the rise of TiKTok, which has overtaken Facebook in popularity in particular groups of fans. German football clubs are trailing behind in the effective use of social media compared to other top European football clubs. Clubs need to overall enhance their technology competence significantly to ensure the success of digital media as an effective communication tool with fans. The online community of football fans is currently broken into many separate “island” solutions of (internal & external) Apps, social media, blockchain, ClubTV, NFT, OTT, streaming, ticketing and many more upcoming applications and features, without an overall integrated connection drawing from single data sources or a data hub.
The opportunity is present now for omnichannel metaverses like MegafanWorld to create a focal point for football fans, using the “interact-to-earn” model. This will help get the attraction of new younger Fans in the social media strategy with clubs. A single application that integrates many individual functions ( blockchain / Nfts / Voting / Gaming / Chats ) will be the future.
There are some potential regulatory threats to the NFT and crypto industry in general, and football oriented crypto offerings in particular, as the regulators are becoming more and more skeptical about crypto offerings for football fans. The first warning shots have already been fired. We saw this for a fantoken structure for example: A statement issued by the Advertising Standards Authority (ASA) states that the asset promotion campaign implemented by the club has not transparently and effectively informed potential buyers about the risks associated with the investment. Also the leading provider of NFTs for football clubs is under investigation: The U.K. Gambling Commission is investigating fantasy soccer NFT platform Sorare to determine whether or not its crypto-backed fantasy game is a form of gambling. MegafanWorld is monitoring these developments. As we have in-house legal expertise in the executive management, we are well positioned to navigate any regulatory constraints.
There are dozens of new startups offering NFT marketplaces or some kind of apps with Fantasy Football targeting football clubs. Most of these offers target one particular function or activity (e.g. Gaming, NFTs) and there is no comprehensive concept like MegafanWorld. Footballstrike is a multiplayer free kick game with 250 million downloads, but no other non-gaming functions. There are two players in the NFT industry with a strong position and high familiarity: Soare and Socios. Both are not very welcome in the fanscene and more and more clubs refrain from a deal even though high amounts are being offered. Offers to football fans in the NFT/crypto space are often too narrowly focused on people very familiar with crypto and wallets. Many fans want to have something that is affordable and easy to understand for the normal fan.
We believe that a web-based custodial wallet solution integrated into a wide metaverse is the best offer for “ordinary” football fans who do not wish to become crypto conversant.
We use the normal marketing and social media promotion as any digital project or marketplace or online Game. But a main driver will be the cooperation or defacto whitelabel concept we offer to football clubs and other partners ( described above and below). The key attraction point for new users will be the signing of additional clubs to the MegafanWorld platform. The sheer presence on the platform of a club with a large fanbase will undoubtedly attract many users from among their fanbase.
For these reasons, we refrain from spending on general marketing in order to focus funds into software development.
Megafanstore has build excellent relationships in the football industry and also to fan groups and fanblogs. It is important to get access to the community and to gain the support of the fans. There are many community leaders of fan groups active in social media or owners of football blogs, who have active community members that sometimes exceeds even the capacity of the stadion of the local clubs. We are in talks about possible cooperations with the leading football groups and the leading fan group administrators in Germany.
We also have good relationships with leading football related websites and are in discussions about possible co-operations, for example, Kicker the leading German football news site with more than 12 Mio unique users. It will be of interest to those websites/bloggers/news magazines that Megafanstore offers its Stellar custodial wallet interface as a whitelabel solution, which would make it possible to brand the interface under partner brands, for example issuing NFTs.
Company website: https://megafanstore.com/
Project website: https://www.megafanworld.de/
Alpha/demo version: https://megafanworld.fdssoft.com/dashboard
Web Wallet/NFT DEX: https://megafanworld-dex.fdssoft.com/
* The amounts shown are budget requests and not (yet) granted to the projects. During the Community Vote phase, voters can indicate whether the project deserves the amount it's asking for (budget request). The total pool of XLM available for SCF#11 is 8M XLM. SDF will allocate the XLM equivalent of the specified USD budget of the submissions with the most votes in descending order of rank until the earlier of (i) the XLM Pool is fully distributed (ii) there is not sufficient XLM remaining in the XLM pool to fully fund the next ranked submission or (iii) there are no remaining eligible submissions. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on December 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)