The goal of Hardly Hustle is to provide inspiration, drive and motivation in a 10 minute read or less. What you see is what you get. This is hot off the press without an editing team. Noah Fulk is up.
Who are you and what do you do?
My name is Noah Fulk, I am the Founder and CEO of Ewagers. Ewagers is a fully audited and approved skill-based wagering platform solely focused on Esports.
What did it take/how did you get started?
I came up with this idea 3 years ago while watching Twitch with my cousin. My cousin thought a particular streamer would win their match, while I did not, so my cousin placed a $2 wager right there in the living room.
After that, I pondered the possibility of wagering globally against anyone and everyone in the Esports community! I utilized my former contacts in the Esports world to discuss the idea broadly and received great feedback.
I previously played with professionals such as Optic Scumpy and Faze Temperrr. After the positive discussion, market research studies were provided by Goldman Sachs Investment Bank showing over $13B gambled on Esports alone. This, along with other data, validated the concept and Ewagers came to fruition!
It took over 18months of auditing from various agencies/ regulatory hurdles on top of 12 months of building the platform from scratch. I spent the first 9 months working 100-120hrs a week and did nothing but work, eat, and try to sleep.
What does the future look like for you and your business?
Ewagers has secured over $500,000 in investment and is currently raising an additional $250,000 via a SAFE (Simple Agreement for Future Equity). These funds will be used for the marketing campaign.
Ewagers will acquire customers through sponsored streamers, free to enter tournaments, traditional social media advertisements, and live in-person events. The next steps are simple... raise capital and let gamers know we exist!
What drives / motivates you on a daily basis?
I have been a gamer since the age of 4 and have always been competitive. My drive comes internally at wanting to be the best at what I do, no matter what that may be. Additionally I have seen Esports bad mouthed and talked down on. It's time there is a positive light shed which is why I created EsportsCharity.com.
EsportsCharity.com allows for local businesses to sponsor an Esports Tournament. Local competitors will then enter a raffle and be randomly selected to participate. The winner of the tournament gets to donate 100% of the proceeds to a local vetted non-profit. This will promote local businesses, bring the community together, and most of all show the positives Esports can create.
What advice would you give someone interested in doing what you do?
Only do pursue if this is your true passion.
What has been the hardest part of your business journey?
Balancing work life with personal.
How have you managed burnout thus far?
With a lot of Coffee.
What are a few resources that you'd recommend?
No books in particular but simply a local public library card.
The STATS
List the founders
Noah Fulk: Founder | CEO Kevin Sun: CTO
How many hours a week do you work on this hustle?
60-80
# of Employees?
7
When did you start?
2020
How much did it cost to launch?
60,000
What were your funding methods and ballpark amount raised?
Family Friends: $197,000
Angel Investors: $350,000
VC: $100,000
Annual revenue?
Pre-Revenue
Projected revenue?
$130,000 projected in 2023
What's the #1 thing you need right now?
An experienced CMO with a proven work history