When the mobile app HQ came out last year, it changed the gaming experience for users with its live trivia format.
Now, a product manager with an engineering background thinks he has come up with the next groundbreaking innovation in this newborn live trivia industry.
Stephon McCoy has founded QuicWit, an app that asks users up to four questions at random times throughout the day, and the first user or users to answer wins a prize. The prizes consists mostly of cool tech gadgets ranging from drones to surfboards to electric scooters. Users have 15 minutes to answer each question.
Once a user has won a prize, they have the power to gift select app users up to a 50 percent discount off the product they won, providing users that didn’t win with the opportunity to buy the prize at a discounted rate.
“QuicWit is more than a trivia game; it’s a full-blown ecosystem,” McCoy told The Buzz. “I wanted the people behind it to win, the consumers to win and the marketing partners to win. It’s a three-way experience.”
When the winners receive the product they won, they also get a QR code, allowing them to review the product and provide valuable insight for the company.
“I thought it was something we can tie in very well as an incentive for a person to provide… a trusted review for marketers,” said McCoy.
By allowing winners to gift discounts for the product they won and still help out other users, QuicWit also has the ability to help companies push products off their shelves.
McCoy said the company intends to charge companies a campaign fee for using their products as prizes during certain hours of the day. For instance, he expects prime hours to fall between 4 and 10 p.m., a window of time when both the east and west coast is commuting.
The app will also make money through ads and in-app purchases. Users will be able to pay to skip ads in time intervals such as $1 to skip five days worth of ads and gain access to the premium games where the prizes are even bigger.
Currently, McCoy said the QuicWit team is in the middle of building the app, but is looking to raise about $500,000 in funding to help front prizes for the launch. Once the app goes live, McCoy expects that the company will be able to partner with other companies in the form of product campaigns to help out with providing the products going forward.
At a recent practice pitch at Boston’s Startup-a-thon, he said he thinks the company can do $10 million plus in revenue in its first year. If interested in funding, please email email@example.com.