Football or soccer, the latter as it is commonly used in America, is the most popular and most popular sport in the entire world, with over five billion football fans, according to the highest governing body, FIFA.
While the World Cup, football’s premier event and arguably the world’s most watched sporting event, shows the sport’s popularity in all its glory, it is an annual competition in many countries in Europe, South America, Asia and Africa that compensates for the tough nature of football. the fans are on display.
According to FIFA, Latin America, the Middle East and Africa represent the largest fan bases in the world. As fans of various sports, including football, become more and more interested in virtual versions of their favorite sports, startups in these fields are fulfilling their desires by offering platforms for fantasy sports.
Today’s news comes from the Middle East and Africa, where the Egyptian platform, which it says will make football more immersive and interactive for every fan in both regions through games and building an online community, has $3 million in seed capital.
drive around 4DI Enterprises The company said it was attended by Darwaza Capital, Golden Palm Investments, P1 Ventures and some investors from the sports and entertainment sector.
Eksab said it plans to use the investment to expand its user base in the Middle East and Africa. Part of the money will also go towards hiring talented product developers, engineers and product teams, as well as partnerships with football clubs.
Founder and CEO Ali Mahmood founded Eksaab in 2018. In an interview, he told gaming-updates, “Exab’s mission is to make football more exciting for every football fan in the Middle East and Africa.”
Eksab launches with a predictive game where users create fantasy lineups and compete in free or premium competitions. There is a leaderboard showing how well they are doing; Winners receive cash and other prizes.
Eksaab has recently begun creating content for users to receive news and updates on their favorite players and teams, using this information to better inform their hypothetical decisions.
In the long term, Eksab hopes to create a fully integrated platform, which according to their statement will be a platform for earning, games, content, statistics, NFTs, digital collectibles and football trading.
Eksaab charges a percentage of all fees paid on the platform, especially for premium contests and merchandise.
Mahmoud, who was working at a startup incubator in Canada when Eksaab came up with the idea, said he built the platform by taking inspiration from established players like Dream11, DraftKings and FanDuel, as well as new startups that brought Web3 to fantasy sport. to the world. Like Sorare. Others, such as Draftea, show what is possible in America and other regions outside of Europe.
“During my time there, I learned about the rise of DraftKings and FanDuel. My friends played these two games, and although I didn’t know much about Canadian sports, especially hockey, I found that playing these games was the easiest way for me to get to know the game a bit and develop a sense of camaraderie. way. With my friends,” he told gaming-updates.
“I liked the matches and I understood: why is nobody doing this with millions of football fans in the Middle East and Africa? They said. “So we did a little research and realized that there is a huge niche in the market for these types of games. [fantasy football] in the Middle East and Africa. ,
Eksab currently has over 700,000 users on its platform in Egypt who participate in daily, weekly and monthly fantasy and divination competitions. The user base generates over a million options and posts every month.The company said that since the launch of the Premium League in 2021, its paid user base has grown by an average of 60% every month.
In a bid to invest in its technology, Eksaab said it plans some integration with blockchain platforms to allow football fans to take advantage of Web3’s predictable speed and transparency.
“As a football fan, what would you like to do online? Buy jerseys, play with the players of your favorite team in your fantasy, get news and statistics about your favorite players,” said the founder.
“We want to make sure that fans can get it all from one place and earn in such a way that every interaction you make on our platform gives you a reward that you, in turn, can use for more entries. correspond.”
According to its founder, Eksab is the only licensed fantasy football platform in Egypt; In fact, it has virtually no competition in the country or in the Middle East and Africa. In addition to securing licenses to operate in three new markets by mid-year, CEO Mahmoud told gaming-updates that his company is about to partner with one of the biggest football clubs in the Middle East and Africa.
And with the World Cup taking place later in November and for the first time in the Middle East (Qatar), Aqab sees itself in a unique position to dominate the growing football game market in both regions.
“We started with football because it is the most important sport that people care about. With the World Cup also just around the corner, we will be spending a lot of money on partnerships with niche footballers to expand our platform and user base,” said the CEO.
“But once we feel confident that we have captured football and are doing our best, we are going to open access to other sports as it makes sense for us.”