GZV #36: Gambling with Gen Z and NFT's
Welcome to all of our new subscribers! If you ever want my opinion or thoughts on something associated with Gen Z, just shoot me an email.
Let me introduce you to 1v1me…
Website:
Problem
Streamers struggle with engagement of fans and making significant money while playing games.
Solution
1v1Me is a platform where players can bet on who will win a match in games like Call of Duty or Madden. They are trying to build a platform where wagering is the engagement tool.
Gen Z View
Streamers have become a great form of entertainment for a select portion of Gen Z, with money on the line it could become even more entertaining.
I’d say roughly 30-40% of Gen Z guys love to gamble, everything is a competition in our eyes. I just bet $20 last week on a game of beer dye (and yes, I won)
Right now we can only bet on sports, but for those who play video games, this could really up the excitement.
Recommendation:
I want to be able to bet on games between my friends and random players. I’m sure this is already on their mind and the barriers are large, but if they could crack them it could be a 9 figure exit.
Fundraising?
Looks like they just closed a round, so likely not raising for a little. Nonetheless, very cool product I wanted to feature.
Current Trend: NFT’s and Gen Z
First off, what is this photo?
This photo was tweeted by Beeple in response to Elon Musk saying he was releasing an NFT song as an NFT. This is obviously a joke, but still funny nonetheless.
Quickly, what are NFTs?
NFT stands for Non-Fungible Tokens. They have mostly been used now to sell digital art and tweets. Think of them like trading cards, if you buy the NFT to someone’s art, you essentially get a certificate of authenticity and the rights to the digital property.
What does Gen Z think of NFT’s?
We have definitely seen articles about Beeple’s famous $69 million dollar sale of his piece “5000 Days”, so we have heard of NFT’s, but haven’t done much discovery. Recently, we have started to see creators debut NFT’s, but they are still in the early stages of adoption.
There is also some resistance to adoption because some people think most NFT’s cost millions, like Jack Dorsey’s first tweet or Beeple’s art. Thing is, some NFT’s like Logan Pauls, don’t necessarily cost millions, but just a few thousand. This is still very steep for Gen Z. I believe we could really see adoption if the price for some NFT’s drops to a $100-$500.
What sector would Gen Z love to see NFT’s?
I think content creators and sports could be two places where Gen Z and NFT’s merge together really well. If Mr. Beast dropped an NFT, millions would buy it instantly. If Lebron James dropped an NFT, same thing would happen.
Startup Idea within the sector
I want to see a large marketplace, like an Amazon, where you could look at all the NFT’s currently available. I’ve seen a few different platforms emerge nowadays, but I want one to be the centralized one.
Cheers!
-- Tom
well done, Tom!
Well spoken, Tom!