Cover-Credits:
AFK Gaming
Imagine making money from the stock market without ever investing in it. This might sound like a far-fetched fantasy, but for thousands of Indian consumers, it was a lucrative reality. We're not referring to traditional financial instruments like derivatives, mutual funds, or options trading. Instead, we're delving into a more unorthodox, and indeed peculiar, avenue: Fantasy Stock Gaming.
Several mobile applications emerged allowing users to engage in simulated stock market trading. These platforms enabled participants to profit from the fluctuations in stock prices without incurring typical costs such as broker fees, stock exchange fees, or taxes. By predicting whether a stock listed on the National Stock Exchange (NSE) or the Bombay Stock Exchange (BSE) will rise or fall within a short time frame—sometimes as brief as 60 seconds—users could earn money based on their forecasting prowess.
These apps rapidly amassed a significant user base, with some boasting over 500,000 downloads on the Google Play Store. Their popularity did not go unnoticed by investors. Venture firms such as Accel and Dream11’s investment arm Dream Sports have poured substantial investments into these platforms.
