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 stock representing a player and earn points based on the player’s performance. The better the player performs the more points you earn.
How do I use Sportiqo?
The Sportiqo trading platform will be available as a mobile app both on Android and IOS.
Which sports and players will be available?
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.
Player Stock FAQs
What is a Player Stock (PS)?
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.
Why should I buy a PS?
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.
How can I buy a PS?
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:
Primary Market
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.
Secondary Market
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.
How can I sell a 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.
How is the price of a PS determined?
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.
Are Player Stocks NFTs or cryptocurrencies?
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.
What are the risks of buying a PS?
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.
Points
How is the performance of a player measured?
For T20 cricket, points are 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 points are calculated.
How is player performance converted to points?
At the end of a tournament, PS holders get paid guaranteed money equal to the total points of that player in that tournament.
This is adjusted for the number of units of the PS that the user holds.
For example, suppose you have 5 Virat Kohli IPL stocks in your portfolio and Virat Kohli has 200 points in the IPL then you will be paid 5 x 200 = 1000 Rupees at the end of the tournament.
Money is paid only to the PS holders at the end of the tournament.
If a user buys a PS but sells it in the market to book a profit before the tournament ends then the user is not eligible for any reward money.
Points on Sportiqo are like dividends that are paid to shareholders in a stock market.
What can I do with the points earned?
The points will be paid out in INR. You can use the money to purchase more Player Stocks or withdraw to your bank account.
