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Just In: Ashneer Grover’s Crickpe

From someone in their tech team, got to know very curious insights. CrickPe is built on Solidity smart contracts that automatically enforce performance bonuses for cricketers. However, the underlying logic is enforced on an ELO based system with log-normal rewards. Essentially, if a cricketer rewards are: Reward = Expected(reward) +- log(performance). Their ELO is similarly adjusted on a match by match basis. Also, Insider reveal is that, VC community is keen on investing and Ashneer is considering raising funds but has made clear that he is willing to liquidate only till he has majority stake in the venture, although aiming at closer to ~75%. Also, they are experimenting with NFTs linked to rewards that give you insider access to pre-game locker room access with your favourite teams, flying you out to international matches abroad, etc. This will also be tradeable in-app. They are apparently looking for Blockchain Devs/interns for that. Finally, the biggest news. They’ve apparently launched a bid to get a fan-experience zone specific to CrickPe in the stadiums during IPL. The plan is to sell these tickets at a higher cost. Fans who watch games from this zone get to play a special variant where the highest scorer is given their reward from the MOTM.

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iamanonymous

Zuddl

a year ago

Ashneer took a session today in our college and explained how crickpe is different from other fantasy apps. Lets say the corpus for a single game collected is 100Cr. Now Dream11/MPL will give back 80Cr to the winners and keep 20Cr with themselves. There is no incentive for the cricketers to play better. Crickpe takes the 100Cr corpus, gives back 80Cr to winners, keeps 10Cr for itself and gives the remaining 10Cr to the top performing cricketers in a certain ratio decided by fantasy points. Found it very interesting, so shared it here :)
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DrProduct

Amazon

a year ago

super interesting!
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AnimatedPay6

Amazon

a year ago

bcci ban them? it’s almost like paying players to perform/ not perform
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AnimatedPay6

Amazon

a year ago

Quite insightful, thanks for sharing, tbh, this is the only category which makes real money.
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DrProduct

Amazon

a year ago

+1 on thanks for sharing. But are we sure this makes real money? What is the core value here?
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Elon_Musk

X.com

a year ago

The core value is people in this country love cricket and will throw their wallets at it. I'm not getting the part where the cricketer is getting rewarded... Like what value does it bring to me as an end user?
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SpectacledSenorita

Zomato

a year ago

There's a glaring loophole as someone pointed out of principal agency problem. I'm sure they have figured something around this.
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AestheticWisdom

Adobe

a year ago

“Pay the player” - it’s one thing for them to pay high performing players, but why would a fantasy player who himself is earning 3-5 rupees a match pay Virat Kohli for whom even 50k is pocket change. Lol
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Start

SaaS

a year ago

Anyone has his new email ID?
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looper

Fivetran

a year ago

Improvised gaming
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Kraken

Cisco

a year ago

I have a white marble building to sell as a topup NFT to anyone who believes BCCI will allow Grover to pay players based on performance.
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Nachos333

Stealth

a year ago

Pehle hi kya cricketers ke paas kam paise hai ki mai unko aur du. And why should I incentivize cricketers to perform in international matches? Desh ke liye khelna kam incentive hai kya?
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Nachos333

Stealth

a year ago

Itna ghatiya idea aajtak nahi dekha pure startup jagat me
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Laborclass

Amazon

a year ago

Waiting for BCCI to pick up the model and issue player guidelines restricting them from participating in such activities without BCCI consent
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Indusplateau

Stealth

a year ago

BCCI will just copy and regulate such platforms if they are a successful
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BingoMadAngles

Stealth

a year ago

It's too early to judge, we haven't this model yet in India, if there's some ego play happening that " X cricketer accepts Y money from CrickPe" for a match, if the amount is too low it might impact their brand value and status quo, in that case, this model might not work imo, If cricketers openly start accepting money through this app, then it will be interesting to watch, but Dream11 has already built distribution and is #1 in this category, so it won't be difficult for them to plug this model
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Rahul_ligma

MPL

a year ago

The performance based bonus for cricketers, I fail to see how that will make a difference. All the NFT and web 3 based stuff, pretty basic, can be done by MPL and dream11 too. The kind of people that play this would be less interested in NFTs aspect of it, more in the rewards aspect and cricket. All in all not too clear what he is trying to do differently here. If it's the same as the other fantasy sports companies, he will just have a CAC problem on his hands.
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ElonTusk

Startup

a year ago

Players don't play better to get money from fantasy apps lol. They play to make a name for themselves and get brand deals.
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GreenMax49

Kotak Mahindra Bank

a year ago

I heard that during the first few days the 'terms and conditions' section of Cricpe was a blind copy paste of Dream11. They didn't even remove reference to Dream11 name.
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Aragorn_urf_Maverick

Accenture

a year ago

This is what MoneyControl reported on CrickPe …ability for users to send cash rewards to their favourite cricketers, in what appears to be inspired by people tipping their favourite creators across different creator platforms. People can currently send cash rewards ranging from Rs 100 — Rs 100,000 per cricketer per financial year.” Yup, you can apparently send ₹100 to Virat Kohli. If he accepts, CrickPe will take a fee. And if he denies it, CrickPe will return the money to your account
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KapM7

Stealth

a year ago

Still don’t understand why the whole thing has to be an NFT.
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