NEW DELHI: Metalok, a company that specialises in the working of the metaverse via blockchain technology, has announced Sportsverse. Cricket, India’s first gaming platform made to change and enhance the way fans experience cricket.
Through Sportsverse, cricket fans watch live matches and trade-in fan tokens of ten cricket teams. Investment in fan tokens happens via cryptocurrency.
Mohit Goel, CEO and Co-Founder of Metalok Media, the parent company of Sportsverse, further explained, “Fans can watch the cricket match live, like how one watches stocks on a business channel or a trading terminal.
Fans trade their favourite team fan tokens against every action, even on every ball.
After fans have watched and traded, it’s time to earn. Earning, of course, is based on risk capacity, appetite and realisation of short-term and long-term P&L.
As for what occurs when the match or series comes to an end, Mohit Goel, CEO and Co-Founder of Metalok Media, say, “This is where the beauty comes in. After the series ends, we reward our fans with an 11th token. It is a company utility token similar to a company’s bonus share. With this 11th token, loyal fans can enjoy other sports that will be a part of Sportsverse.”
While Sportsverse is focussing on cricket for the moment, plans are in place to include popular sports around the world in Sportsverse.
As for how Sportsverse is different from other online sports platforms like fantasy leagues & online betting platforms, Mohit Goel says, “Here what is different is that we have introduced Blockchain and crypto technology. While fans are watching the match instead of strategising as they do on other similar platforms, here it is the formula of trading.” Another key difference is Sportsverse. Cricket is not a betting platform.
As part of the initial launch event giveaway, Sportsverse, cricket gives free team fan tokens to every individual.
(ANI)