HNM Spectrum is an online social gaming platform founded by Marios Demetriades and Harris Orfanides, that hosts three games and is expandable both regarding the number of games and number of users. Currently the only game promoted is Mpirimpa with Tichu to follow within Q1.
The company had net cash of €37,000 at the end of 2021 with no liabilities and an additional €18,000 to fund the company in 2022. Current cash flow covers operating expenses but an additional €300,000 funding is needed for more aggressive promotion and further development
Their strategy to concentrate on mobile users with core game Mpirimpa that has launched also in mobile in September 2021 with Tichu to follow within the 1 st quarter of 2022. Active promotion of Tichu will start following its mobile launch
The company’s profit comes through sale of chips and advertising. Users receive free chips daily through a scratch card and bet against each other chips. The platform receives a % of winnings. Based on statistics around 4% of active users become buyers.
But although the current clientele is based in Greece and Cyprus, there is a plan is to target additional countries where HNM spectrum’s games are played expanding their user base to Italy Germany, Brazil and more. This will be achieved gradually as a separate marketing plan is required for eachcountry
The market for electronic gaming has gained traction during the last few years with more and more people playing electronic games utilizing several game platforms. – Newzoo estimates the total market to be around $176bn by the end of 2021. – The drop from last year reflects the huge increase the market enjoyed in 2020. Gamers are also increasing geometrically expected to reach 3.32 bn by 2024.
The introduction of smartphones has contributed significantly to the development of this market with almost 50% of global games revenues estimated to come from smartphone games.
The online gaming sector is very competitive, but at the same time attractive due to its large growth especially in social gaming. Edutech has also been increasing significantly over the last few years.