There has been a quantum leap in cryptocurrency investment in the Indian sub-continent. According to industry reports, in 2020, the total cryptocurrency investment from India amounted to $200 million. It increased to a whopping $40 billion in 2021 – in just one year. That puts India ahead of countries like the U.S., Canada, and China. But not everyone knows how to invest in cryptocurrencies like Bitcoin and Indians are more inclined to invest in the stock market or in precious metals. Rainmaker, a cryptocurrency fantasy gaming platform, could change that, and make it easier for others to invest in cryptocurrencies and in stocks. The platform was launched at the end of August.
DIGITAL CREED spoke to Harsh Himmatsingka, Founder & CEO, Rainmaker to find out how the platform works, and what was the mission.
“We started when the cryptocurrency wave hit India, about 2016-17. At that time Bitcoin value was on the rise and we were all quite curious to see how it works and we tried to invest in it. This fear of losing money constantly came into play. And that’s where we realized that there has to be a better way. We thought that if we could gamify the entire investment experience, it could bring a sense of satisfaction to the user. They could experience this entire ecosystem, without having to lose a lot of money, or time or headspace, and learn and engage themselves with cryptocurrency in a much more simplified manner. And earn some money too,” said Himmatsingka.
Cryptocurrency Fantasy Gaming Platform
Rainmaker offers India’s crypto enthusiasts and crypto curious a whole new and unique trading experience. It is based on the core vision of democratising knowledge for individuals interested in learning the nuances of this investment avenue in a fun way. It offers a near-real experience by gamifying trades and inviting players to learn analytical skills in crypto portfolio management. The cryptocurrency fantasy gaming platform also offers a similar experience in stock trading, replicating that of actual Stock Exchanges in India. Rainmaker is now available on iTunes and Google Play Store.
Connected to an actual Global Cryptocurrency exchange, Rainmaker’s exchange uses data and references from live events taking place the world over. Players can safely make life-like trades in a fantasy gaming environment. They can pick from over 20 different types of paid as well as free contest formats available on the platform. It provides the flexibility to exit when they choose, allowing them full in-game control to stop loss/ profit booking.
Shedding more light on the thought behind this pioneering idea, Himmatsingka said, “While India’s love for cryptocurrency trading has outdone that of even the U.S. and China, the knowledge around how to maximize one’s investment in crypto trading is still limited. With Rainmaker, it is not only the crypto literate that we hope to attract, but also those who are unsure but crypto curious, that we hope to arm with the knowledge needed to confidently become an actual crypto trader.”
He went on to add, “Even in stock trading, India is witnessing greater participation from a wider pool of individuals with young professionals rapidly joining the fray. Many of these are coming from tier II and III towns which is encouraging and a strong indicator of a growing investment and earnings mindset. With Rainmaker, we hope to further fuel this trajectory. And for the numerous gaming enthusiasts who are simply looking for high-octane fun, Rainmaker offers the right mix of adrenaline and know-how to create a fulfilling experience.”
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How to Play on Rainmaker
Once you download the application, Rainmaker immediately tells you it is a fantasy gaming app based on cryptocurrency and Indian stock markets. You can choose from either of two formats: A pick six format and a pick nine format. In the former, you pick six crypto currencies or stocks to create one team; in the nine format you pick nine stocks or crypto currencies to create one team.
The teams you create enter a contest of your choice, depending on your investment, risk appetite, or the free games one opts for. In doing so, one can experience the entire ecosystem. Your team competes with similar teams available in the contest created by other users. Users pay a small entry fee, or they can enter for free and secure a place in a contest. The prizes are determined as per the points accumulated during an ongoing contest. Points are accumulated on the basis of a very unique and a very simple point system. Every cryptocurrency or stock may gain or lose a value in their market cap by 0.01%. Depending on the gain or loss, one point is awarded or deducted from their points accumulation. The person who has the highest number of points at the end of the contest gets ranked number one and in descending order, other ranks are also mentioned.
For more instructions on how to play are available here.
About Rainmaker
Rainmaker is the flagship product of First Stock Contest Limited which is a tech startup established in 2021 in the Real Money Gaming (RMG) space. First Stock Contest Limited aims to build products that redefine the RMG sector with its industry best in design and technology, and by creating gamification-focused learning avenues for sustainably building wealth.
Rainmaker is a legal and World’s first Cryptocurrency & Stock fantasy gaming app for all sections of the society. Pioneered in India, Rainmaker is centered towards a single idea of educating all and bringing trading enthusiasts from India and around the world together on a single platform. The app offers over 20 types of contest game formats, multiple time-bound contests for each format and unlimited free contests to practice. The entire gameplay is based on a simple online fantasy gaming principle with respect to the user rewards taking references based on data from live events, analysis, and fluctuations taking place in the real-time Indian stock and global cryptocurrency markets using real-time data of exchanges.
With inputs from a Press Release.