NEW DELHI: Sportiqo, a blockchain-based fantasy cricket platform, has launched in India pitching a choice for users to invest or trade in players, just like stocks.
The platform boasts a performance ranking system based on an algorithm that analyzes a variety of batting, bowling and fielding statistics to assign an index rating to each player.
On Sportiqo, when a fan’s selected players perform, he/she is rewarded cash ‘dividends’ based on their portfolio. The platform enables one to pick and choose top players, basis their knowledge and analysis of the sport.
Anindya Kar, CPO and co-founder of Sportiqo said, “India and cricket is a market we really want to explore. This kind of personal interest and audience engagement is unique to cricket here and transforming that fandom into a stock markets format is a unique proposition. When we launched Sportiqo, we were looking for an interactive & entertaining way to engage people while also making it informative so that they get a basic idea of the world of investing and trading. The platform is powered by cutting-edge blockchain technology and deep analytics giving each player a unique value basis several parameters. We look forward to the reaction of cricket fans across India and the world to Sportiqo.”
The player stocks known as ‘counters’ on Sportiqo and the ‘dividend’ rewards are denominated in SPQ, Sportiqo’s in-app currency.
Based on a beta launch, Sportiqo already has nearly 32,000 active users and it is forecasting to raise the figure to over 5 million active users by 2027.
Sportiqo has raised $1.25 million (Rs 10 Cr) in the pre-seed round from unnamed angel investors with a focus on user acquisition in its first phase post launch.
The platform is already live for the ILT20 League.
