Duely is similar to the stock market, the only difference being that clients invest in e-sports and teams. Players and teams are always looking for initial funding that assists them to grow. They would also need investment before major seasons so they can add more players to their teams. They make lot of money, but mostly coming from sponsorships. They do not have a direct way to monetize those fans, and that is the problem they are solving. This system allows fans to invest in their favourite teams by putting their money in this unique stock market.
“We compete with crowdfunding or donation sites because users do not come to our site to invest in players per se, but to earn money being traders”
They monetize through sponsorship but the big opportunity is monetize directly the fans. The Duely system solves most of these issues without turning the exchange of money into gambling. Duely also solves the funding issues that teams go through, allowing them to work with better talent and create improved rosters. Simply put, Duely funds player careers. More than the teams though, it helps the fans connect with their teams, since a victory for the team is a victory for the people investing in the team as well.
E-sports is an industry that is forever growing, the market value in 2016 was $40M, but in 2017 it went to more than $1B. Some e-game tournament prizes pools together have more money in them than Wimbledon and other major sports. In 2016, more people watched the finals of League of Legends than the NBA finals.
Duely is based in Valencia, Spain. Since the company is starring at a large market, they are planning on tackling about 2% of it in the next 4 years. The company is run by Alberto Martínez Guerrero (CEO), Jose Miguel González García (COO), Javier Pastor Sánchez (CTO) and Vicent Martí Pérez (CMO). The founders are gamers as well, allowing them to understand some of the ins and outs of the industry.
The team has worked together on some Silicon Valley projects and after gaining enough experience there, they moved to something of their own. Duely currently has 2 people who are helping them with their marketing. They are looking to add a few more people to the fold, and are in need of experienced blockchain developers and graphic designers. The company is looking to add some in house counsel over working with an external agency of lawyers.
Most fans are not looking to just pay but to make sure they are investing in the stock market. Duely also learned that many teams make a lot of money in sponsorships, but those teams still have a lot of bills to be paid.
Moving forward, the features to be added to the platform are, a system that allows sponsors to pay the players and teams directly. They would also be working on a player transfer platform, allowing players to move from one team to the other without any hassles.
Some of the advantages that the company already has are partnerships with some big names in the business. Big teams from different parts of the world have already connected with them as well.