The IPL season has had the nation glued to their screens of late and that excitement seems to have spilled over to gamified trading platforms as well.
The gaming industry was the earliest adopter of the blockchain as we know it today. Even before the advent of metaverse, multiplayer storytelling games built their story around a fictitious reality. Since metaverse has come along these games have gone to a whole new level, changing the way we perceive the notion of games. And what better game than cricket to get the ball rolling in introducing a whole new set of users to blockchain backed India's first decentralised sports exchange, Sportsverse.cricket.
Trading went live on May 17 and it seemed like fans of cricket and gaming platforms were keen to not just watch but trade and earn as well.
Over 10 matches and 12 days the market capitalisation of Sportsverse.cricket, product division of the parent company Metalok increased by 6 fold. Official trading on Metalok’s platform started with a corpus of 20 lakhs and within 12 days the market capitalisation became with over 3500 users buying Sportsverse.cricket tokens. Market cap touched a peak of 911K USD which was during the playoffs when cricket fever was at its peak.
Metalok hopes to create a multiverse of their own in the Metaverse through sports and as for what’s next Mohit Goel CEO and Co-Founder of Metalok Private Ltd. says, “Sportsverse aims to become Asia’s No.1 sporting decentralised exchange platform and also give avid sports enthusiasts their share of the profit for supporting their favorite teams.”
While Sportsverse has begun its journey with cricket, plans are in place to include popular sports from around the world in Sportsverse. The next immediate playing field for Sportsverse will be India’s favourite Kabbadi. So get set to say Kabbadi Kabbadi on blockchain where no hacker will be able to beat you.
Metalok is the parent company of many sub-projects that focus on the decentralized form of data storage. Along with focusing on the blockchain, all the subdivisions of Metalok also focus on cryptocurrency, fashion, sports, jewelry, health, and celebrity management happen to be a few of the fields the company hopes to expand into in the near future.