MVM, a gaming guild that originated as a play-to-earn (P2E) platform during the 2021 crypto bull market, has transformed into a social gaming and eSports platform called Hyper. This change was caused by the bearish crypto market and tokenomics problems that affected many P2E games. Hyper permits gamers to play casual games for free or participate in competitions for cash rewards. The platform's matching algorithm pairs players based on their skill level to ensure equitable games, and gamers receive a share of the revenue generated by the platform.
Hyper's sustainable business model has received a lot of attention from gamers, with over 6,000 sign-ups and a 50% retention rate during beta testing. The platform offers a diverse selection of games, with over 22 titles available and no ads that interrupt the gaming experience. Thanks to a joint venture partnership with OFR and DUX, the platform has attracted users from Nigeria, Indonesia, and Brazil, and the company intends to expand its reach even further.
Yemi Johnson, the current CEO of MVM, oversaw the pivot from P2E to social gaming. He joined MVM as General Manager after serving as SVP, Consumer Business at Reliance and COO at Hotels.ng. Yele Bademosi, the founder and CEO of Nestcoin, serves on the board alongside him.
MVM has ten employees who are all software engineers, designers, and business growth managers. They all have a founding equity stake in the company. Hyper's business model has created unicorn-status startups in India, such as Dream11, which enables players to compete against each other in fantasy cricket.
With its innovative approach to social gaming and eSports, Hyper has the potential to disrupt the gaming industry similarly. The platform is available for download in beta testing on Android and iOS.
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