Frequently asked questions
Sportiqo FAQs
What is Sportiqo?
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.
Is it a fantasy sports platform?
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 counter representing a player and earn rewards based on the player’s performance. The better the player performs the more rewards you earn.
How do I use Sportiqo?
The Sportiqo trading platform will be available as a mobile app both on Android and IOS.
When do you launch?
We are aiming to launch our app for beta testing in in Q1 2023.
Which sports and players will be available?
The beta version of the app will launch for with 30 of the top players from the UAE T20 cricket league in January 2023. This will be followed by other T20 leagues such as the Pakistan and India T20 leagues.
In addition to T20 cricket, we are planning to offer counters on other sports such as football and kabaddi starting Q3 2023.
Player Counter FAQs
What is a Player Counter (PC)?
A Player Counter (PC) is a token that represents the performance of a player in a tournament.
PCs are just like stocks in a share market but instead of companies, they represent the performance of players.
PC holders earn guaranteed cash rewards based on the performance of the player in a game as per a transparent formula called SportiScore.
Why should I buy a PC?
You should buy the PC for a player if you think the player is going to perform better than expected.
Player performances are converted to cash rewards on the Sportiqo market so if you think you are going to earn more cash rewards than the price of the PC you should buy.
How can I buy a PC?
PCs can be purchased on the Sportiqo app when it is live. To purchase a PC you first need to purchase the in-app currency of Sportiqo, SPQ. Once you have sufficient SPQ in your wallet you can purchase a PC in one of 2 ways:
Primary Market
Before the start of a tournament, Sportiqo will conduct an auction in which PCs will be offered for sale to users for the first time. Users can indicate the number of PCs that they want to buy at the offering price. If their application is successful, SPQ will be deducted from their wallet and the desired number of PCs will be credited.Secondary Market
You can also buy a PC from the secondary market i.e. the marketplace on the Sportiqo app at any time before the expiry of the PC.How can I sell a PC?
You can sell a PC on the Sportiqo market after live trading of the PC starts and before the expiry of the PC during trading hours only.
How is the price of a PC determined?
The initial offering price will be determined by Sportiqo. Once the PC is open for live trading, the price will be determined by supply and demand. The price of a PC is essentially the market’s estimate of the cash rewards that a PC will earn over its life.
Are PCs NFTs or cryptocurrencies?
PCs are built on blockchain technology but are not specifically a cryptocurrency, however, ownership of PCs is authenticated by a public ledger (blockchain network), just like with traditional cryptocurrencies. PCs are utility tokens built on the Ethereum blockchain and are not NFTs as each unit of a PC is identical (’fungible’) to every other PC for a particular player.
What are the risks of buying a PC?
The price of a PC 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 PCs for amounts that you can afford to lose.
Scoring and Rewards
How is the performance of a player measured?
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.
How is player performance converted to rewards?
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.
What can I do with the rewards earned?
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.
SPQ FAQs
What is SportiQoin or SPQ?
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.
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.
How can I buy SPQ?
In India, you will be able to buy SPQ on the Sportiqo app via UPI, internet banking, credit and debit cards.
How can I convert SPQ back to my currency?
For Indian user SPQ can only be purchased or sold back to Indian Rupees.
For global user (outside India), SPQ can be converted to USD or major crypto - BTC, ETH or MATIC
