August 22-nd Sportzchain held an Ask Me Anything session with the ICOSpeaks team at our telegram chat.
1️⃣ Block 1 – self introduction from today’s speaker
Before we go to the first set of questions, could you please do a short self-intro?
👨💻 Siddharth Jaiswal| CEO & Founder of Sportzchain| @siddharthjaiswal
I am Siddharth Jaiswal, the founder and CEO of Sportzchain. I am a sports enthusiast and a cricket lover by passion with experience of blockchain consulting and investing since 2017
👨💻 Vinayak Yannam | CBO and Co-Founder of Sportzchain| @vinayakspn
Hi, I am the co-founder of Sportzchain, and I look after all our partnerships from a sporting team and Crypto perspective. I am supporter of Arsenal football club and Mumbai Indians from the IPL
2️⃣ Block 2 – project introduction by speakers
Block 2 tip: Submit 3 – 4 questions to introduce the idea of the project. General question about the concept of the project.
Q: Sportzchain, as the name suggests, is something to do with the sporting world. I read in your whitepaper that it is Not just a ‘fan token’ but a ‘Digital World for Fans’ which intrigued me. So can you help us understand more about it?
A: Absolutely as the name suggests its all about sports and sports fans. Isn’t sports more than a religion that connects everyone irrespective of boundaries. This is where we wanted to make a difference targeting an industry which has more than 4 billion fan base.
To answer your specific question, Digital world for fans is the biggest differentiators for Sportzchain compared to other Fan Token projects such as Chiliz and various Sports NFT projects. Imagine a world where you engage with your favourite team and get rewarded for your time and effort spent. This Digital world for fan will offer 360 degree fan engagement which is not just restricted to launching fan tokens but also extends to various features and some of them are Gamification such as play to earn and move to earn where fans can do activities and earn free tokens, then we have metaverse through partnership with SANDBOX where fan token holders will get exclusive access and benefits, further we are incorporating Fan-commerce where one can use $SPN and buy discounted merchandise and get confirmed allocation of match tickets.
For our token holders, we also have passive reward features such as staking where you can earn upto 20% APY. In short, we want to make sportzchain an amazon.com of the sporting world where they not only just engage but also get entertained creating a huge opportunity for $SPN token and its holders
Q: I was just scrolling through your website https://www.sportzchain.com and I saw stating that it is the first engage-to-earn (E2E) platform. Can you please help us understand more about it?
A: I am sure as a sports fan we talk about sports on social media platforms, our whatsapp / telegram chat groups but all in vain as it is not a rewarding experience nor does it create an impact on your favourite team and sports. Here we are revolutionising the game by creating a sustainable and rewarding model for sports fans.
We are the World’s first Engage-to-earn (E2E) platform for sports fans powered by $SPN. Through our platform, you can turn your everyday engagement with your favourite sports and teams into a rewarding experience and connect with like-minded sports fanatics.
Our ENGAGE-2-EARN ecosystem will incentivize fans to participate on SPORTZCHAIN’S Digital World for Fans offering a 360 degree engagement for fans to interact as well as act as an integral stakeholder of the team
Sports Token – Back your favourite teams by buying their fan tokens, influence them directly and gain financial benefits when the team performs and engages with the fanbase through polls and other engagement avenues
Fan commerce – Redeem $SPN on sports merchandize, match day tickets and OTT subscription
NFTs – buy NFTs of your favourite teams including one-of-a-kind phygital NFTs that give you money can’t buy privileges with expanded utility across the Sandbox Metaverse
Gamefi – Play to earn games where you can earn while participating in sports casual games for football, cricket etc.
In other words, whatever you do on our platform and interact and engage with like minded fans you will be rewarded in our off-chain tokens (RWRD) which can be then redeemed for SPN, fan tokens, merchandise and more. So it is time to not just ENGAGE but ENGAGE and EARN
Q: Ok let’s talk more about your token specifically — $SPN. Can you elaborate a bit more about the token itself and its utilities?
$SPN is the booster for the entire platform, with the help of $SPN token the sports fan will be able to buy their favourite team fan tokens. As we grow with more sporting team partnership the adoption of $SPN will increase, benefitting the early holders of the token.
Further, $SPN will help users to participate in various play to earn and move to earn games and also earn passive rewards through various staking programs. Further, uses include but are not limited to exclusive access to content, contests, merchandise purchase, weekly lotto participation and early access to future fan token airdrops.
Interestingly we have built a program called “First Citizens Program” which is basically an exclusive early adopter program which is applicable for the first 500 whitelist participants and 10000 $SPN holders. The holders of $SPN will be eligible for this program which gives exclusive benefits such as
Right to get future fan tokens airdrops of $50,000 for free.
Right to get confirmed allocation of future fan tokens at a discounted price
Right to earn up to 40% APY on various staking programs that we will launch
3️⃣ Block 3 – question from ICO Speaks team
Questions from ICOSpeaks team!
Q: I recently saw that your team concluded the whitelist round successfully, congratulations for the same. But is there still a chance users can get SPN before listing on an exchange
A: Yes, we have closed our private round of $SPN where only curated whitelist participants were able to participate. However, due to increased interest we will be doing a public round through partnerships with launchpads and undertake IDO and IEO at $0.0024 before we list our token at $0.004 on a couple of centralized exchanges
Here is our detailed IDO/IEO Calendar:
Initially, $SPN will be launched on polygon protocol and our contract has already been audited by Certik and details are live on CMC and CG.
To make the community aware, our only competitor is Chiliz ($CHZ) and if you see the all time high of $CHZ token was around $0.4 which is approximately 200x of $SPN IDO price.
Q: Explain your milestones and progress of your roadmap to our users
A: The journey so far was interesting and we are moving at the speed of light. We have been backed by strong crypto VCs such as DARQ Capital, SUNiCON Ventures, Polygon, Near Foundation, Goldman Sachs (India) and many more.
Till date we have closed exclusive partnerships for Fan Token and NFTs with 5+ sports teams giving access to an 800K fan base in Asia.
We have successfully launched NFT of one of our partner teams and launched India’s first Phygital NFT that was sold within 24 hours of launch.
We are currently in talks with 6+ cricket, football and esports teams and will be closing 1-2 partnerships soon.
Also, we are delighted to announce that we are one of the few projects that has already launched their alpha app before listing the project token. We have received huge interest in our recent launch with more than 1400 votes on blockchain where fans had decided not just the next season jersey for the team but also showcased their opinion that with which cricket opponent our partner team should play their next game. You all can login on fans.sportzchain.com and signup to participate early and win rewards.
Our immediate roadmap plan is to launch our Beta App in August, do IDO/IEO in august and in the next 30 days do the TGE by listing SPN in centralized exchanges.
Q: Can you elaborate a bit more on the Tokenomics of $SPN as you understand that’s one of the key elements for the success of any project
A: As mentioned earlier our smart contract has been deployed and audited by Certik. Our total supply will be around 10 billion with functionality to burn benefiting the demand-supply dynamics. When we do our TGE and list on exchanges, around 1.5% of the total supply will be circulating supply. Having said that, we plan to announce and launch staking programs with 20-40% APY to benefit early holders through passive income and in addition we also plan to burn 1-5% of our supply during the first few months of launch benefiting the early participants.
From a vesting standpoint, the team and advisors tokens have a vesting period of 24 months with a cliff of 4 months which showcases our confidence in the project from a long term stand point.
The private investors have a vesting period of 10-12 months and for IDO participants 25% of tokens will be unlocked during TGE and remaining 75% will be unlocked in three tranches of 30 days. More details on tokenomics can be read in our whitepaper which is available on our website.
4️⃣ Block 4 – Community Voice.
Community asks the questions they are interested in.
Q: When will your tokens be listed on the exchange and which exchanges do you plan to list on in the future?
A: Let me take this one which is the very relevant for all users and participants. We are doing our IDO and IEO with 10+ launchpads including Kommunitas, P2PB2B, DaoStarter, Bitrue and more
Further our token $SPN will be listed on centralized exchange which is Bitrue to start with. We are in discussion with Gate, Huobi, MEXC, Bitmart and other top tier exchnages to list our token in coming month
Q: Southeast Asia is a very vibrant market and many project developed here so what do you think about Southeast Asia and do you have any plan to develop here?
A: Southeast Asia is very important for us, we will be expanding to Indonesia, Vietnam and Malaysia. We are going to build regional communities here and launch Sportzchain. So its right time to grab $SPN at 0.0024 and the first listing price will be $0.004.
Q: Staking program is very important for every project? Can i stake your Token? Do you have any plan of starting staking programme? plz tell us sir?
A: We absolutely have staking programs, but you will need to join the first citizens program to do so, head over to tokens.sportzchain.com
Q: Revenue is an important aspect for all projects to survive and sustain. So how does your project plan to generate profit and revenue?
A: Revenue is the cornerstone of our project. From first day of inception, we do not want to create a meme project that only rely on dumping of token to run the project. We have four revenue streams that will help us create sustainable revenue and not be dependent on tokens sale to run the project.
More details on revenue can be read in our whitepaper on our website – sportzchain.com
Q: What is your strongest advantage that you think will make your team leading the market?
A: We are an Asia centric platform, and we think Asia first, we think local too, so we are building local communities with local language focus. This is where we will beat Chiliz, along with our Sports ecosystem of products
Q: Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
A: Our killer feature is that we have a platform that is friendly for both Web 3.0 and Web 2.0 users. Its essentially a Web 2.5 platform. Our competitive advantage will be the ecosystem we are creating for engage to earn.. have a look at our whitepaper to understand more
Q: Without an working products any idea has zero value. We see many projects are on paper only and no product. So, kindly ensure us that your project is just not an idea and it’s already has an working products or practical usecases?
A: Great question. we also have the same belief that is why before launching our token we have launched our alpha webDapp fans.sportzchain.com. We already have 22K+ signups on our webdapp and are the first in Asia where fans have decided the jersey design of their team
Q: Is your project only for English speaking countries or is there a community for other language users?Is your project only for English speaking countries or is there a community for other language users?
A: We will be adding capabilities for Bahasa Indonesia, Vietnamese, Malay and few other languages in 2023
Q: What is the most ambitious goal of your project? Could share with us any Upcoming Updates?
A: Our vision is to onboard 10mn sports fans on our platform and very soon launch fan token of IPL cricket team and a european football team fan token on our platform
Q: I am interested to invest in your project. When and where can I buy your tokens? Is it already listed exchanges?
A: Right now you can go to where our IDO is live and grab SPN early
Q: Which one of these aspects is Important for you?
1-Increasing Token Price & Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally
In what Order?
A: 1. Has to be building community, 2. Global partnerships, 3 Empowering platform dev and if we do all these 3 things then the token price and value will be taken care of
ICOSpeaks hosted an AMA Session with the Sportzchain Team. That’s all for today.
Thanks to all users who participated.
Thanks, Sportzchain for being with us
Thanks, all and see you soon😉
Wanna know more?
Read our AMA guide on how to Launch successfully AMA Session in telegram