There is no denying of the fact that the world is deviating from analogue to digital. The consumption rate of digital content by people is increasing by the day. While older generations will no doubt bemoan the downfall of the traditional media, those who have already adapted to the digital medium are already clasping to the new world of digital consumption. What makes the digital medium so interactive? The apt answer would be the convergence of traditional media into one.
Games are just another strategy to acquire customers these days, helping brands not only expand their user base but also create an awareness about the product. Research and tech pundits have pointed on the same thing, if a company is able to engage a user to play a game they’ve created, the game will start acting as the source of dopamine. To give gamification a much needed kickstart ‘Adyep’ came into being.
Founded by Rahul Mangal and Ankush Sharma, the startup aims to become the one stop solution for gaming solutions for brands. This Jaipur-based startup showcases the unique concept of “Product Gamification”. The word Product Gamification will soon add more meaning to the word advertisement. Product Gamification enables the companies to reach out huge number of audiences. In it, the company creates product and brand centric attractive games using the latest tech like Virtual Reality (VR), Augmented Reality (AR) etc.
The company basically works in creating brand-centric games, with the introduction of AR & VR, these companies now have an unique advantage, to not only acquire customers rather create a new level of experience for its users. VR & AR can be used in a form of advertisement, for instance, a real estate company can showcase a property based in Delhi to a customer in Bangalore. This will now only be just another video, rather once the user is on a device like a Google Cardboard, they can go through the property as if they are standing right in the middle of it.
Monetisation & Traction
The company is monetising by taking up projects from brands and claims to have created games for over 79 companies. There is no specific charge or a rate list through which the company monetises, rather Ankush explained us that they charge on the size (depending on the needs of the company) of the project. The company has already created a game for Dabur’s product ‘Real Juice’, an endless running game like ‘Temple Run’, which is currently being offered on the Google Play as well as their own website. Though this app on Google Play has just 500+ downloads, the company claims to generate major chunk of user engagement through its game on their website.
Funding & Competitors
When asked about the funding status, Ankush explained that the company is currently being bootstrapped and they’re not actively looking for investors. He further added, “We want to concentrate more on the product and generating traction. Funding is secondary, if an investor likes our idea and most of all, believes in our work then we’ll be ready to take the conversation ahead.”
The company faces direct competition from various companies making games, the only factor differentiating them from others is the ‘brand’ part. Companies like xcubegames, playgen etc are working towards the same. Moreover, none of the game development companies have adapted the VR & AR techniques.
According to marketsandmarkets, the global gamification market is to grow from $1.65 Billion in 2015 to $11.10 Billion by 2020, at a CAGR of 46.3%. The base year considered for the study is 2014 and the forecast period is 2015-2020.
In 2014, Facebook paid $2 billion to acquire Oculus Rift. From then – till now, Apple, Google, Sony, have all capitalised on the technology by introducing products like Apple VR Content, Google Cardboard and Sony Playstation VR. Even mobile players like Samsung and LG are coming up with the VR technology by offering 360cameras in their phones and distributing the gear for free to its buyers. The global figures show a total investment of around $600 million in the VR sector in over 119 companies.