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MarketHero.in, one of the first financial market gaming portals, will launch its beta version next month. It is also looking at extending the product to multiple platforms such as mobile and other networks similar to Orkut and Facebook.
MarketHero, which is a free-to-use financial and stock-broking game, built on Web 2.0 standards, has recorded close to 500 registered users in one month.
According to Abhimanyu Chirimar, founder of Markethero, the participants can manage a virtual gaming portfolio of Rs 1 million and trade equity stocks, mutual funds and commodities, which are backed by real prices from the exchanges.
"This is a gaming portal and does not involve any real money or investments from the players. But it certainly helps users to familiarise themselves with trading on stock markets, the BSE and NSE, and could even work as a tutor for stock-broking," Chirimar pointed out.
The company is also looking at extending the product to multiple platforms such as mobile and other networks similar to Orkut and Facebook.
"The next logical step is to make this platform available on other social networking sites in order to extend our reach and userbase," Chirimar said.
The social connections in the games allow users to network with other investors, learn about the latest tips, follow their trades and also challenge them.
"Currently we are a team of four people who launched this self-funded initiative. The initiative has attracted some interest from external investors. Now backed by an angel investor, we are also in early stage talks with strategic partners such as broking firms and well placed VC firms," Chirimar said.
The business model for MarketHero comprises traditional methods such as advertisements and targeted endorsements and some newer ones like software as a service (SaaS) for corporate customers or educational institutions.
