Bolafy Presents NFT Platform for Football Fans in Indonesia

Industrial development Web3 in Indonesia more visible from the number of supporting platforms, becoming the realization of a trend that is allegedly going to be the future of this internet. Various activities and communities were also formed to accommodate socialization. One platform that has a mission to integrate Web3 in the sports sector, especially football, is Bolafy.

The platform was founded by Joseph Bima, an engineering graduate from the University of Massachusetts. Bima said that his initial idea came from when he was still teaching in Uncle Sam's country. At that time, Web3 was growing quite rapidly there. After doing research and finding a business model, he attracted one of his friends who is still an ITB student to start this business.

Bima also admitted that his experience of directly witnessing the development of Web3 in the US made him learn a lot. "In the US, Bubbleit's more visible. Lots firm Web3 which ultimately failed. From there, I also analyzed what errors could potentially occur if implemented in Indonesia," he continued.

Moflip is Bima's first work to be released to the public, this platform was created to accommodate business sports and entertainment in the realm of Web3. Over time, he realized that it would be better to have a different platform to cover each industry. "That's why we made Bolafy for sports, and TiketNFT.com for entertainment"explained Bhima.

From industry entertainment, through TiketNFT.com, his party has managed to accommodate tickets for Dewa 30's 19th birthday concert in two cities. This famous Indonesian musician asked that all tickets be made into NFT, that way, all those present had concrete evidence and everything was integrated into web3.

Value proposition

Bolafy itself positions itself as a "Digital Fans Engagement Platform" that offers official digital collections from its collaboration with businesses. His party considered football as a sport with the most potential with a large and quite solid fan base. In addition, there are still opportunities that can be exploited from its derivatives, such as women's soccer and para' football Legendary.

One of the value propositions that Bolafy also offers is the ease of making payments. So far, NFT is considered too exclusive and difficult to access because of the payment system that uses crypto. Through Bolafy, football fans can enjoy the exclusivity and value of NFT by paying in Rupiah and can see every work they buy on OpenSea.

In addition, this platform also offers programs loyalty for each club. Every purchase of NFT will get coins which can then be exchanged for prizes. There are two formations reward exchangeable, monetary (physical) and non-monetary (experiences). The company views this as engagement what fans need.

It admits that many fans are still reluctant to buy NFT using crypto because the process is quite long. In order to enter this huge market, we must be able to adapt our methods to demand. "One of our initial objectives was to enable easy and minimal sales of NFTs entry barriers for a large and comprehensive community," added Bima.

He also revealed that the buying process using rupiah is no different from using crypto. They use polygon chains to ensure the mechanism minted remain affordable for users. Cost minted charged to users for all NFT at a price of 15 thousand - 500 thousand Rupiah is the same, which is 2 thousand Rupiah. This is a protocol that also adds value to the platform.

Until now, the total number of Bolafy users for 3 months of official operation was 9.200 people, dominated by fans football. Bolafy itself has collaborated with PT Liga Indonesia Baru (LIB) to utilize the network from Liga 1 and has completed a project for the President's Cup.

Last July, the company officially collaborated with Persija Jakarta to present a variety of digital collections that were special for The Jakmania (the name of Persija supporters). Persija became the first football club to launch NFT which can be purchased using Rupiah.

"My goal in providing this service is so that fans can get sustainable benefits and rewards. As local organizers we have advantages. We know the demands of clubs and Indonesian football fans. This will be the first stage, how do we offer the concept of NFT integrated with web3 but with a relatively conventional method," said Bima.

Future goals

Bima himself admitted that the web3 industry in Indonesia is still in its early stages. As consumers, people have been facilitated by various facilities to enter this industry. When there is one breakthrough that can let people feel the impact and real value of a Web3 solution, it will pave the way for many other businesses, not just following trends.

In terms of monetization, Bolafy implements a system profit sharing with partner-new. This year, the company targets to collaborate with all football clubs in Liga 1 and build an educated and willing audience. On the other hand, I want to synergize with PSSI for what solutions can be offered for the national team.

"Until the end of the year we are still focused on football. After all the derivatives have been achieved, then we can think about expanding into other sports that have an equal audience, such as badminton, volleyball or esports," Bhima explained.

Last March, the company managed to book funding pre seed from Starcamp, a venture capitalist who also supports startups with a similar model, Collectible. Bima revealed that the fresh funds of SG$200 thousand had been used to build the platform, recruit talent, and operate. Currently, Bolafy is still in the recruitment process to add to the team which currently consists of 12 people.