A blockchain-based fantasy cricket platform, Sportiqo, has launched in India with a choice for users to invest or trade in players, just like stocks.

The strength of this platform is said to be its performance ranking system based on an algorithm that analyses a variety of batting, bowling and fielding statistics to assign an index rating to each player.

The growing popularity of investing in stock markets cannot be denied, starting at an early stage for many young professionals. On Sportiqo, when a fan's selected players perform, he or she is rewarded cash ‘dividends’ based on their portfolio. This unique gaming platform enables one to pick and choose top players, basis their knowledge and analysis of the sport.

The sports industry reportedly gets nearly $2.5 trillion every year globally, while there are 3.5 billion passionate sports fans.

“This kind of personal interest and audience engagement is unique to cricket here (in India) and transforming that fandom into a stock markets format is a unique proposition. When we launched Sportiqo, we were looking for an interactive and 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,” said Anindya Kar, CPO and co-founder of Sportiqo. 

The platform has been developed to be intuitive and user-friendly. The price is determined by expectations of the players’ future performance in the market. The fluctuation in players’ prices depends on the changes in their dynamic performance. The player stocks are known as ‘counters’ on Sportiqo and the ‘dividend’ rewards are denominated in SPQ, Sportiqo’s in-app currency.

“Educating the youth about investing and trading using cricket is a great idea. India really needs creative options to improve the financial literacy of the masses and Sportiqo is addressing that gap.”, observed stock market expert, Gautam Duggad.

“Cricket fans are passionate and many of them have a deep knowledge of the sport and players. I think bringing together the sport and its fans via this format of fantasy gaming is exciting. It is always fun to get your skin in the game and developing a simulated stock exchange in the cricket universe is a potent idea,” added Amrit Mathur, sports industry veteran.

Based on a beta launch, Sportiqo already has nearly 32,000 active users and it is forecasted to raise the figure to over 5 million active users by 2027.

Sportiqo has raised $1.25 million (Rs 10 crore) in the pre-seed round from angel investors with a focus on user acquisition in its first phase post-launch. The platform is already live for the ILT20 League and additionally, in the coming time, Sportiqo will add a portfolio of other sports and leagues as well such as the English Premier League and the Indian Premier League among others.