At the 2020 Encode Hackathon, co-founders Jordan and James developed the MVP for an NFT football management game, where users could trade clubs and players, and generate scores. Footium was a hackathon finalist and was subsequently recommended to join Encode's accelerator program.
Footium entered into Encode's Accelerator program in September 2020 and was provided with support to continue building Footium.
Encode's Operations Lead George worked closely with James and Jordan throughout 2021. He is now Footium's COO.
In 2021, Footium raised pre-seed funding from Encode Club and a number of angel investors. With this funding, Jordan was able to work full-time on Footium, and Fraser, Sam, and Matthew joined the team.
Footium's first club mint took place in November 2021. 3,060 generated Footium clubs were released in a public sale that sold out in 23 minutes for roughly $200 per club.
At the end of 2021, the team undertook a round of seed funding to get the financial and commercial support required to take the game to the next level.
Investors of the $3.35m round included Backed VC, Animoca Brands, Stride.VC and Entrée Capital, along with professional footballer Chris Smalling.
Since then Footium has scaled out the team significantly, getting specialist expertise in all aspects of the product.