User:Brendalogy/sandbox

FameLeague (Fantasy Market League) is a highly customizable technology platform which drives fantasy stock market web applications for sports, people and showbiz. It is the flagship product of Socialico, a Singapore-based startup company founded by Keith Ng and Damon Widjaja. It was formerly a simulated stock exchange and a prediction market web application with more than 20,000 registered users. FameLeague adds gaming mechanics to prediction speculations. Developers and licensee can customize FameLeague to create their own fantasy market games.

Prime examples include FameMark and PremierX. Both products are powered by FameLeague and enable users to speculate and purchase shares of predictions, with each potential outcome of a prediction being a stock. With each accurate prediction stock invested, users stand to earn points. Likewise, users also earn points when the popularity of a prediction increases. The reverse is also true; users will lose points for wrong predictions, or when a dip in popularity occurs for the user's chosen prediction. FameLeague mimics the behaviour of actual stock markets, but in a highly simplified form.

History
FameLeague is formerly a simulated stock exchange and a prediction market web application integrated with popular social media website, Facebook. It was inaugurated as a BETA release in April 2009, and went live on November 16, 2009. Prior to its revamp, it had more than 20,000 registered users. It was a top 50 finalist in the fbFund 2009 – a $10M seed fund offered to support developers and entrepreneurs working on the Facebook platform. It is the only Singaporean startup, and one of three others in Asia to receive this honour. Additionally, it has been featured on print media such as The Straits Times and ChannelNewsAsia and notable blogs such as SG Entrepreneurs, E27 and Young Upstarts. (See notes.)

In the former FameLeague, the player and the members of his/her social network are listed as stocks that can be purchased by others as shares. Shares on popular media such as music, movies and celebrities can also be traded. Just like the actual stock exchange, the market price of a stock is determined by the number of shares traded for that stock. On top of that, prediction stock – or stock that specifies a possible outcome to an ongoing or future event – can also be traded, and their market prices depend on the expected outcome. The objective of the game is to earn as much Silver - the main currency in FameLeague - as possible. This is through making accurate forecasts while purchasing prediction stocks, and the ability to anticipate which stock(s) will become even more popular on FameLeague when purchasing stock on friends, celebrities or media.

In May 2010, the management made a strategic decision to segment the broad-based game into individual products such as FameMark, a fantasy exchange of people, and PremierX, a fantasy exchange of English Premier League. FameLeague was then later developed into a technology platform that drives these segmented products upon customization.