We are pleased to announce that Heat Check is the recipient of our first grant. Congratulations!
When it comes to consumer engagement, sports is obviously the most active industry. With brand deals, broadcasting rights, video games, and more, the scale at which the industry operates is massive. It is estimated that 15 million people watch the NBA finals alone.
But the problem sports teams have is understanding who their fans are. Ex-core members of Krause House DAO, an ambitious organization set out to buy a NBA team, started Heat Check, an application that rewards fan engagement in a fun way.
Imagine Pokémon Go for basketball fans.
Users create their avatar on the app, view a list of open challenges, then get rewarded for their engagements. These challenges could range from interacting with their favorite sports team by attending matches, hosting watch parties, or buying their merchandise to creating fan content on social media. The genius is that these are engagements fans already do on a daily basis.
So what do fans get in return for completing challenges? Fans receive both digital and physical rewards.
Digital: wearables, highlight clip NFTs, etc.
Physical: meet-and-greets, tickets to games, etc.
The sports teams get access to the next level of their community and a platform to interact with brands who are eager to get closer to their customer.
Heat Check’s use case is the ideal on-ramp to web3. It invisibly introduces on-chain principles like item ownership on the blockchain and its product applies to any brand. The team is currently in the process of developing a partnership with a major soccer league.
The potential scale of this product is what attracted us to Heat Check. Their vision aligns perfectly with ours, and we believe Mario and the team will play a significant part in onboarding the next million fans to web3.
Heat Check started in Q2 of 2022 and their one-month long Beta with Krause House DAO members resulted in a ~17% increase in fan engagement for sports teams and a ~6% increase in merchandise sales.
Start a challenge now!
Heat Check is looking to fundraise in Q1 of 2023. If you or anyone you know has an interest in funding promising web3 projects, we urge you to reach out to them.
Our mission at The Symmetrical is to find and support the projects that will fulfill our vision of onboarding the next million genZ to web3. Follow us on Twitter for regular updates and apply here to receive a grant.