Player Counters
Player Counters
Player Counters (PC) are digital assets that are used to represent a player’s performance. They are not NFTs that are used to represent a player’s attributes such as image, likeness or videos.
On Sportiqo, all PCs are denominated in SPQ, the in-app currency of the platform. Each unit of a PC earns Rewards (also denominated in SPQ) based on the player’s performance in a game.
PCs will initially be valid for a single season. There will be a limited supply of PCs for each player.
Primary Market
Sportiqo will issue new PCs or a fresh supply of existing PCs through Player Counter Offerings (PCO) before the start of a tournament. For example, before the start of the Indian T20 League in March 2023, Sportiqo might issue 1000 PCs of Virat Kohli Counters through a PCO. Users can purchase the Virat Kohli Counters during this offering by indicating the number of units they want to purchase at the prevailing offering price. Once this offering ends, Sportiqo might issue a subsequent offering of another 1000 Virat Kohli Counters at the same or different price to the previous offering. However, the total supply of the Kohli Counters will be less than or equal to the Maximum Supply for that PCSecondary Market
Users can also buy PCs that have already been issued on our marketplace. If there are any users or the marketplace who are looking to sell their PCs or if Sportiqo has unsold PCs from a PCO then the user may buy PCs from the secondary market.The initial price of a PC during a PCO will be determined solely by Sportiqo based on its estimate of the Counter Rewards that the PC will earn during the tournament. Subsequently, the PC price will be determined by supply and demand and will be a reflection of the player’s expected performance in the tournament.
Counter Rewards are allocated to each unit of a PC after every game based on the performance of the player on whom the PC is based in that game. If a user holds a fractional amount of a PC then the allocated rewards will be proportionately adjusted. The accumulated Counter Rewards will be paid out to the PC holder at the end of the season when the PC expires. Counter Rewards will be calculated as per a transparent, precise formula calculated entirely using verifiable public information
Both the PC price and the Counter Rewards will be denominated in SPQ.
The price of a PC will fluctuate based on the player’s performance or some other factor that results in a change in perception about the player’s future performance potential. This will present trading opportunities to users who can apply their superior sporting IQ and profit from it.
For example, suppose the price of a Kohli PC before the start of the tournament is 400 which means the expected Rewards that each unit of a Kohli PC can earn during the tournament is 400. Suppose in the first 2 matches, Kohli scores 2 centuries and each Kohli PC is allocated 300 SPQ as Rewards. The market now expects the Kohli PC to earn significantly more Rewards than 400 so the price of the PC shoots up to 800. Some PC holders can decide to take profit on their position at this stage. Now suppose in the next 3 matches, Kohli performs poorly and each Kohli PC is allocated only 10 SPQ as Rewards. The price is now expected to drop significantly and could go even below the original price of 400. This would present a buying opportunity to users who believe that the dip in form is only temporary for Kohli.
