Sportiqo is a platform where sports fans can trade the performance of their favorite players like trading stocks. It allows fans to apply their sporting IQ and take a view on the performance of a player over the long term such as a season or even their full career.
Sportiqo is a fantasy sports platform with a difference – you don’t need to create a team and compete with other users. Instead, you simply buy the stock representing a player and earn points based on the player’s performance. The better the player performs the more points you earn.
The Sportiqo trading platform will be available as a mobile app both on Android and IOS.
The app is live with top 30 players from Pakistan T20 league. This will be followed by India T20 league.
In addition to T20 cricket, we are planning to offer counters on other sports such as football and kabaddi starting Q3 2023.
A Player Stock (PS) is a token that represents the performance of a player in a tournament.
PS are like stocks in a share market but instead of companies, they represent the performance of players.
PS holders earn guaranteed cash rewards based on the performance of the player in a game as per a transparent formula.
You should buy the PS for a player if you think the player is going to perform better than expected.
Player performances are converted to points on the Sportiqo market so if you think you are going to earn more points than the price of the PS you should buy.
PS can be purchased on the Sportiqo app. To purchase a PS you first need to add money in your wallet. Once you have sufficient money in your wallet you can purchase a PS in one of 2 ways:
Before the start of a tournament, Sportiqo will conduct an auction in which Player Stocks will be offered for sale to users for the first time. Users can indicate the number of player stocks that they want to buy at the offering price. If their application is successful, money will be deducted from their wallet and the desired number of Stocks will be credited.
You can also buy a Player Stocks from the secondary market i.e. the marketplace on the Sportiqo app at any time before the expiry of the PS.
You can sell a PS on the Sportiqo market after live trading of the PS starts and before the expiry of the PC during trading hours only.
The initial offering price will be determined by Sportiqo. Once the PS is open for live trading, the price will be determined by supply and demand. The price of a PS is essentially the market’s estimate of the points that a PS will earn over its life.
Player Stocks are built on blockchain technology but are not specifically a cryptocurrency, however, ownership of PS is authenticated by a public ledger (blockchain network), just like with traditional cryptocurrencies. PS are utility tokens built on the Ethereum blockchain and are not NFTs as each unit of a PS is identical (’fungible’) to every other PS for a particular player.
The price of a PS may go down drastically if the player underperforms. In the worst case, it can go down to zero and you may lose your entire investment. significantly. Only purchase PS for amounts that you can afford to lose.
Player performance in a match is measured using a formula called SportiScore.
For T20 cricket, SportiScore is similar to the scoring systems used in fantasy cricket. However, performances which are much better or worse than the rest of their team’s earn bonus/penalty points.
Click here for full details of how SportiScore is calculated.
At the end of a tournament, PC holders get paid guaranteed cash rewards in SportiQoins (SPQ) equal to the total SportiScore of that player in that tournament.
This is adjusted for the number of units of the PC that the user holds.
For example, suppose you have 5 Virat Kohli IPL counters in your portfolio and Virat Kohli has a SportiScore of 200 in the IPL then you will be paid 5 x 200 = 1000 SPQs at the end of the tournament.
Rewards are paid only to the PC holders at the end of the tournament.
If a user buys a PC but sells it in the market to book a profit before the tournament ends then the user is not eligible for any rewards.
Rewards on Sportiqo are like dividends that are paid to shareholders in a stock market.
The rewards will be paid out in SPQ – the in-app currency of Sportiqo. You can use the SPQ to purchase more Player Counters or convert the SPQ to a fiat or crypto currency at the then prevailing market price.
SportiQoin or SPQ is the in-app currency on the Sportiqo market.
All Player Counter prices are denominated in SPQ.
All the cash rewards are calculated and paid in SPQ.
To buy a PC you need to buy SPQ first.
In India, you can buy SPQ using UPI, bank transfer, and credit and debit cards.
The rate for 1 SPQ is = 5 INR.
Outside India, you can buy SPQ using select cryptocurrencies such as BTC (bitcoin), LTC (Litecoin), DOGE (Dogecoin) and ETH (ether).
The rate is 1 SPQ = 6 US cents.
The SPQ to INR and SPQ to USD rates are fixed till the end of the IPL season 16.
In India, you will be able to buy SPQ on the Sportiqo app via UPI, internet banking, credit and debit cards.
Outside India you will be able to buy SPQ using select cryptocurrencies such as BTC, ETH and USDC.
SPQ can be converted back to a fiat currency or cryptocurrency on the Sportiqo app itself. Note that the price of SPQ will be market determined and hence you may get a different conversion rate to the one that you got while purchasing SPQ.
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