This is to validate a business idea which dawned on me a few days back. The idea is to mix bollywood and stock exchange and create an interesting game out of it. Now a days, people seem to be very interested in movie stars lives and their movie businesses. So, I thought of using this addiction of theirs to create an mobile application called bollystock. Below is the description:
It is an application which replicates stock market with “movies”, “actors” and “directors” as entities.
-The game aims at listing the entities as shares which the users buy/ sell to gain maximum points.
-The points can be used to get rewards from various affiliated loyalty programs.
-Also, there is a daily, weekly, monthly leaderboard which lists users ranking based on points gained/lost.
-Users target is to gain maximum points by selling/ buying stocks to top the leaderboard.
Initial Setup :
1. 50 entities are listed with their base price (say BP).
2. Users’ are provided 10000 points to play with.
3. Users’ will spend points in buying the entities.
4. Users come and do trading on those entities i.e. they will initially buy it.
5. Depending on an entities’ buy request, the points needed to buy the entity would rise further (say by a factor X).
6. The user would place a sell request for the entity if he/she feels that he will gain point from selling it at a price B+X . Also, he can chose to wait for ‘X’ to increase further.
Rules of the game:
1. User need to keep minimum of 10 different entities at any time.
2. For every sell, user has to buy some equivalent and vise versa.
3. When a user places a buy/sell request, the entities would be sold or bought if any corresponding buy/sell request is their in queue. If no corresponding buy/sell request is found, user will be intimated the nearest possible prices. Now, he can choose to sell/buy or hold. In case, he holds the entity, it will automatically be bought/ sold when the target points is reached.
4. The refresh window would be 10 minutes. i.e. after every 10 minutes, the entity prices would be refreshed.
5. The factors that would determine the price (points) fluctuations for the entity:
a.) FAME_INDEX (FI) : It will be calculated by how much the entity is trending in social network i.e. Facebook, twitter.
b.) Number of buy/sell requests.
FAME_INDEX :
1. It determines how famous the entity is on social networks. It is calculated by :
how many people are talking about him/her ? #hastags
(user can contribute to enhance the FI of his entity)