PredictionStrike is the world’s first sports marketplace that allows users to buy and sell “shares” of their favorite athletes, create portfolios, and earn real money. The platform was co-founded by Brad Chabra and Deven Hurt in 2019 offering a new way for fans to invest and engage with their favorite athletes. But now, they can trade virtual shares of athletes similar to stocks. The platform has seen tremendous growth since the return of sports after 2020 COVID-19 and has completed over $3 million in transactions.
The PredictionStrike team has a clear vision of the future of sports fan engagement as they near the launch of their new mobile app for Apple users. The launch is in tandem with the highly anticipated NFL season that kicks off on September 9. It will allow users to invest in their favorite athlete conveniently and potentially benefit based on their real-life performance.
The startup’s mission to launch the app is twofold. Firstly, to empower fans to turn their favorite athlete into investment and earn money. Secondly, enable athletes to connect with their fans directly and benefit monetarily.
In the quest to engage more professional athletes on the platform, PredictionStrike will give athletes a percentage of their market cap, so their share prices increase as the company grows. Once the share price increases, athletes can sell those shares for cash, trade them for shares of other athletes, or keep them and bet on themselves.
In addition to this, PredictionStrike raised $1.7 million in funding from MaC Venture Capital and New Age Capital.
The company plans to use the funds to expand its team, continue the development of its technologies, and increase marketing efforts to engage new users. In addition to this, there are plans to leverage the platform’s data analytics. It will help athletes and everyone in the sports business make better intelligent business decisions. The analytics enables the users to know the popularity of the athletes and where they stand down to the individual level, all in real-time. It will be vital information for athletes, agents, sports retailers, and ticket sellers influencing their decision to buy and sell shares of athletes.
“We’re proud to support PredictionStrike through this exciting next chapter as it expands its technological offerings to trade virtual shares of athletes,” said Marlon Nichols, Co-Founder and Managing General Partner of MaC Venture Capital. “We are looking forward to seeing PredictionStrike drive culture forward by bringing sports lovers together while providing opportunities for athletes to further benefit off the field for the performance and brand that they build on the field.”