Football or soccer is the most popular and watched sport in the world with over five billion fans according to its governing body.
The World Cup, its most popular sporting event, shows the popularity of the sport in full colors, but the yearly leagues in different countries across Europe, South America, Asia and Africa puts diehard nature.
Latin America, the Middle East and Africa are the largest fan bases in the world. With fans of various sports becoming more interested in virtual versions of their favorite sports, startup from these regions are providing fantasy sports platforms.
Eksab, an Egyptian platform that says it is making football more exciting and interactive for every fan in both regions through gaming and online community building, has raised 3 million dollars in seed funding.
The company said that the round had participation from Darwazah Capital, Golden Palm Investments, P1 Venture and some angel investors.
Eksab intends to use the investment to scale its user base. Some of the funds will go into product development, hiring talent in engineering and product teams and executing partnerships with football clubs.
Eksab's mission is to make football more exciting for every football fan in the Middle East and Africa, according to the founder and CEO.
Eksab has a prediction game where users can create fantasy lineups. The winners of the contest get cash and other prizes.
Eksab started giving users news and updates about their favorite players and teams in order to inform their fantasy decisions.
Eksab hopes to build a fully integrated platform that will become the go-to platform for football play-to-earn gaming, content, stats, NFTs, digital collectibles and merchandise.
Eksab takes a percentage of the fees paid on the platform.
The Eksab platform was built with inspiration from existing companies such as Dream 11 and DraftKings, as well as newer companies such as web3 and Sorare. Draftea is showing what can be done in other regions outside the US and Europe.
I was exposed to the rise of DraftKings and FanDuel during my time there. I found playing these games to be the easiest way for me to get to know the sports and develop a sense of camaraderie with my friends.
He said that he enjoyed the games and wondered why no one was doing it for the hundreds of millions of football fans in the Middle East and Africa.
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Over one million people in Egypt use Eksab to participate in daily, weekly and monthly fantasy and predictions contests. The company said that its user base makes over a millionpicks each month and that its paying user base has increased an average of 60% month-on-month.
Eksab said it is planning to integrate its technology with theBlockchain platforms to allow football fans to benefit from its speed and transparency.
What would you do if you were a football fan? The founder said to buy jerseys, play with favorite team's players on your fantasy lineup, and get news and statistics on favourite players.
We want to build this in such a way that fans can get all these from one place and in a play-to-earn manner so every interaction you would make on our platform will earn you rewards which in turn you can use to enter more contests.
According to the founder, Eksab is the only licensed fantasy football platform in Egypt. In addition to acquiring licences to operate in three new markets mid this year, CEO Mahmoud told TechCrunch that his company is on the verge of signing a partnership with one of the biggest football clubs in the Middle East and Africa.
Eksab sees itself as uniquely positioned to dominate the football gaming market in both the Middle East and the United States as the World Cup approaches.
Football is the main sport that people care about. The CEO said that they are going to be spending a lot on partnerships with specific football players to grow their platform and user base.
We're going to start unlocking other sports once we feel confident that we have nailed football and are doing the best job that we can there.
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