Sportiqo, a blockchain-powered fantasy cricket platform that allows customers to invest or swap in players as they would with stocks, has debuted in India. This extremely entertaining platform’s distinctive feature is its performance scoring system, which is built on an engine that evaluates a range of batting, bowling, and fielding data to offer an index score to each participant.
There is no denying that several young adults begin exploring the stock market at an early age, a trend that cannot be refuted. When a player’s chosen athletes do well on Sportiqo, he or she receives ‘dividends’ depending on their investments. This one-of-a-kind gaming platform allows users to select top players based on their expertise and understanding of the game.
Worldwide, the sports sector generates over $2.5 trillion annually, as well as 3.5 billion ardent sports enthusiasts. Anindya Kar, chief marketing officer and co-founder of Sportiqo, stated, “India and cricket is a niche we are eager to study. This level of individual passion and audience participation is specific to cricket in this country, and the transformation of this passion into a stock market framework is a novel concept.
When we developed Sportiqo, we sought an engaging and enjoyable approach to engage users while providing them with a basic understanding of the world of investing and trading. The platform is driven by state-of-the-art blockchain technology and in-depth statistics, providing each participant with a distinct value based on a variety of characteristics. We anticipate the response of cricket enthusiasts in India and throughout the globe to Sportiqo.”
The system has been designed to be customer-friendly and responsive. The price is established by market participants’ anticipated future results. The variation of a player’s value is contingent on his or her dynamic characteristics. The ‘counters’ and ‘dividends’ incentives on Sportiqo are valued in SPQ, the app’s native currency.
“Utilizing cricket to teach young people about investing and banking is a fantastic concept. Sportiqo is filling this need, according to stock market specialist Gautam Duggad. “India requires innovative solutions to boost the financial education of the public.”
Amrit Mathur, a senior in the sports sector, added, “Cricket enthusiasts are passionate, and a lot of them have a profound understanding of the sport and its players. I believe that connecting together the game and its supporters through this virtual game style is interesting. It is always enjoyable to have skin in the play, and creating a mimicked stock market in the world of cricket is a strong notion.”
Following the pilot launch, Sportiqo now has approximately 32,000 active members, and it anticipates increasing that number to more than 5 million by 2027.
Sportiqo has secured $1.25 million (Rs. 10 Cr) from investment firms in its pre-seed round, with an emphasis on user engagement in its initial stage after its debut. The system is already operational for the ILT20 League, and in the near future, Sportiqo will include a spectrum of new sports and leagues, including the English Premier League and the Indian Premier League, amongst many others.