Last Update: February 09, 2023, 00:22 IST
Cricket Stadium (AP Photo)
Sportico launches India’s first sports investment platform that allows fans to trade with cricket players in the form of stocks
Sportico, a blockchain-based fantasy cricket platform has been launched India Like stocks, with a unique choice for users to invest or trade in players.
The unique strength of this highly engaging platform is its performance ranking system which is based on an algorithm which analyzes 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, for many young professionals it starts at a very early stage. On Sportico, when a fan’s chosen players perform, they are paid cash ‘dividends’ based on their portfolio.
This unique gaming platform enables us to pick and choose top players based on their knowledge and analysis of the game.
The sports industry rakes in around $2.5 trillion every year globally, while there are 3.5 billion avid sports fans.
Anindya Kar, CPO and Co-Founder, Sportico, said, “India and cricket is a market we really wanted to explore. This kind of personal interest and audience engagement is unique to cricket here and that fan following is a great asset to the stock market. is a unique proposition. When we launched Sportico, we were looking for an interactive and entertaining way to engage people, while at the same time making it informative to give them a better understanding of the world of investing and trading. The platform is powered by state-of-the-art blockchain technology and in-depth analytics, which assigns a unique value to each player based on multiple parameters. We look forward to the response of cricket fans in India and around the world to Sportico .
The platform has been developed to be intuitive and user-friendly. The price is determined by the expectations of the future performance of the players in the market. The fluctuations in the prices of the players depend on the changes in its dynamic performance.
Player stock and ‘dividend’ rewards, known as ‘counters’ on Sportico, are denominated in SPQ, Sportico’s in-app currency.
“Educating the youth about investment and business using cricket is a great idea. India really needs creative options to improve the financial literacy of the masses and Sportico is bridging this gap.
Sports industry veteran Amrit Mathur further added, “Cricket fans are passionate and many of them have in-depth knowledge of the game and the players. I think it is exciting to bring the game and its fans together through this format of fantasy gaming It is always fun to get your skin in the game and developing a fake stock exchange in the cricket world is a powerful idea.
Based on the beta launch, Sportiko already has around 32,000 active users and is looking to grow to over 5 million active users by 2027.
Read this also Sania Mirza bows out in first round of penultimate tournament before retirement
Sportico has raised $1.25 million (Rs 10 crore) from angel investors in a pre-seed round, with the first phase after launch focused on user acquisition.
The platform is already live for the ILT20 league and in addition, in the coming times, Sportiqo will add English Premier League and Indian Premier League to its portfolio along with other sports and leagues.
read all Latest sports news Here