Pooky, a play-and-earn football prediction app, has made its foray into the non-fungible world by launching its highly-anticipated Genesis NFT Collection on 28 February.
Pooky has made a name for itself as a risk-free football prediction app. However, its business model and modus operandi have been tied to NFTs, as is the norm with the majority of blockchain-based games.
The 1,000 Genesis NFT collection was designed by Serial Cut, a 3D design studio that a history of doing some awesome work for some of the world’s most successful and recognizable brands. Adobe, Google, IKEA, Nike, Ray-Ban, Converse, Diesel, and Facebook are a few examples of the leading companies that Serial Cut has worked with.
For Pooky, working with such a successful studio is a first step in ensuring that the Genesis NFT launch is a success.
Pooky’s Genesis NFT Collection
The Genesis NFT collection will resemble many of the NFTs that have been released in the last few years when the NFT mania took over a section of the crypto industry.
This collection will have various levels of rarity, indicating that some of the rarest NFTs will have a big role in Pooky’s ecosystem.
From a neutral’s point of view, the Genesis NFT Collection is more of a utility NFT than anything else. This is very different from what we saw in the 2020 – 21 crypto bull when some holders bought NFTs just for flexing. There were several interesting headlines, with some investors paying millions for just a picture of a rock.
Times have changed and NFTs have utility. Take, for example, the Bored Ape Yacht Club NFT collection, one of the most popular NFT collections in the world. This collection grants users access to a private online club and exclusive in-person events.
The Genesis NFT collection offers a certain level of utility, but only within Pooky’s app. According to a shared press statement, the most scarce Genesis NFT possesses “higher attributes to boost players’ prediction strategies.”
This means that even those with lower levels of rarity are also capable of the same but to a limited extent.
From the onset, NFTs have been baked into the app’s business model. The primary sales of NFTs provide a revenue stream for Pooky. Another way that Pooky generates income from NFTs is when the app receives a 5% creator fee when NFTs are traded on the platform.
For users, the value of their NFT grows when Pooky use cases and community expand. Since its launch in November 2022, Pooky has seen a record of more than “450,000 predictions made with an average of 7,000 active monthly members.”
The growth signs are there and if it manages to keep this momentum, it could see its numbers grow even bigger. Pooky has entered the growing market of sports prediction and betting. The betting market is expected to reach a value of $128 billion by 2028. This is a big jump from its valuation of $74.2 billion in 2021.
With its lower-risk model, Pooky can capture a big slice of this market.
Is Pooky Ripe for Success?
Pooky is backed by a war chest of €3 million from pre-seed investors, including Claster Investments VC. Apart from the fund, Pooky draws its strength from the experience of its founders, the Riff brothers.
Pooky’s native token, $TPK, will be used for in-game rewards and expenses. The play-and-earn app has an interesting value proposition and it remains to be seen if the launch of its Genesis NFT collection will catapult it to even greater heights.