Financial stress is an ubiquitous problem in today's world. Whether it stems from difficulty in finding employment, escalating debt, unexpected expenses, or a combination of these factors, financial worry is one of the most common sources of stress in the modern world.
According to WeMoney Financial Wellness Survey (2021), 60% of Australians worry about debt and 30% live paycheck to paycheck.
The core job of Marsupium is to educate the users on financial literacy. To do this, we aim to ingrain good financial habits in children from young, as a gateway for them to begin thinking about their money and how to manage it.
We understand that spending is addictive and the action of purchasing is linked to the part of the brain in which is associated with pleasure. This brain area also lights up when we're exposed to substances like; alcohol, cocaine and heroin. In time, our brain cells crave the hit of chemicals and the surge of activity.
Rewards from savings are not immediate, and Marsupium is here to change that!
Build Saving Habits among children
In order to incentivize children to log on and report their daily savings, Marsupium offers rewards in the form of digital collectibles, with better rewards for daily usage.
According to Gary Neville, younger generations have these 3 distinct characteristics.
1) They want things instantly.
2) They see things quickly.
3) They do not like to be instructed and we have to collaborate with them.
Allow Parents to Monitor Their Children's Savings and Expenditure
Each account can have multiple users and parents can act as the administrator for other accounts. Administrators will be able to track the savings of their children, as well as being able to acknowledge each entry that the child inputs.
Educate Children on Financial Literacy and Techniques used by Marketers to Encourage Spending
One of the key inspirations for Marsupium is the rise in popularity of "Gacha" games, and the prevalence of loot box mechanics in popular gaming titles. These games generate millions of dollars in income each year, by locking most of the playable characters, items, or cosmetics behind loot boxes, such that it is impossible to simply pay for what you want in the game, but have to "roll" for it. The business model lies within a grey area of what is considered acceptable, with the German federal parliament passing a law which raises the classification of any game with loot boxes or similar mechanics with an age rating of 18+.
The European Parliament Committee on the Internal Market and Consumer Protection has also warned about the dangers of such mechanics, citing parallels to gambling, as well as the potential of addiction.
By applying this principle to saving instead, we hope to educate users, especially children, on common techniques that games use, so that they can be more well-informed about how companies make their money, and make better decisions when choosing to spend their money.
Other common tactics that games use include customization options such as skins. Whether to show off to others, or for one's personal enjoyment, skins have become universal in the gaming world, especially as a means of profit for freemium games, such as League of Legends, which generated USD$ 1.75 billion in revenue in 2020.
We will be launching our kickstarting campaign.
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