🗓 DATE: 26 August 2022
⏰ TIME : 3 PM UTC
🏡 VENUE: @Asvalabsofficial
👥 Guests: Mr Siddharth Jaiswal, Founder & CEO of Sportzchain & Vinayak Yannam, Co-Founder & CBO
🎙 Host: Payal, Brand Communication Manager | Asva Labs
Sportzchain Fostering Connected Fan Culture With Engage-To-Earn Model.
Below is a full recap of the enriching AMA, for the Asva Riders who couldn’t make it, or for anyone that’s interested. Feel free to have a read!
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? @siddharthjaiswal and @vinayakspn
ANSWER: Absolutely as the name suggests it’s 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 a 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.
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? @siddharthjaiswal and @vinayakspn
Answer: 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
- Vinayak Yannam: $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
4 . 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? @siddharthjaiswal and @vinayakspn
ANSWER: 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 centralised exchanges.
Here is our detailed IDO/IEO Calendar: https://tokens.sportzchain.com
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.
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 elighted 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 centralised exchanges. We are also happy to inform you that we have more than 50,000 users on our platform fans.sportzchain.com wherein daily contests/polls are taking place wherein users stand a chance to win vouchers, merchandize etc.
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.
So now let’s move on to our next segment(Session 2) of this AMA session.
In which selected question(s) picked from Twitter will be asked.
In such a competitive environment, how do you plan to scale and develop your #SPORTZCHAIN to a greater height in order to reach for the moon? And how can you differentiate yourself from your competitors in terms of technology and customer support? — @Maxwell7598
The answer to that lies in the ecosystem that we are building where the community can engage, earn, invest and redeem on a single platform. This single-point ecosystem is currently not something the current competitors hold or possess. With our 5 ecosystem products and our core focus being Asia these would be our key differentiation strategies
How do you plan to add utility to the SPORTZCHAIN token by it being for sports fans?How do you plan to make sure your art is appealing to the lovers of different sports and keep them intrested?
- The utility will come from the growing ecosystem of products, a single token for earning, investing, redeeming and engaging
- Our aim is to increase the number of products, thereby increasing the utility of the token. Further an example of the product that is coming up is $SPN card where its a card where you can spend $SPN online, like a debit or credit card using the $SPN that you have
JCan you tell us some of the use-cases of the tokens in your platform?What are the uses of this tokens in your platform and in the market?What are the benefits when buying and holding your tokens for a long period of time?@siddharthjaiswal and @vinayakspn
- You can invest in your sports team using $SPN
- You can earn $SPN while playing casual games and watching a live sports match
- You can buy phygital NFTs
- You can vote on critical team polls without spending $SPN, just holding the fan token of the team is enough
- You can stake $SPN using the first citizen program
- You can win lotto using $SPN
- Our roadmap is focused on expanding into the Asia market, specifically Indonesia, Vietnam, Malaysia to build communities
- Add 10 sports partner teams at an international level;
- Add a new product, its code name is “dugout” which will revolutionize engage to earn and will be first of its kind
To increase the value of tokens, it is necessary to use certain mechanisms, everyone calls them differently: buyback, burning of tokens, and some project even call it Black Hole! So, what mechanisms do you use for increasing the value of your token? can you tell us about them?
Great Question. We going to do three things in short term
Buyback and Burn program — Here for the firat 30 days of TGE we will buyback $1000 worth token daily wand will burn it reducing the supply
We plan to burn around 1–5% of total token supply in first two quarters of launch
We plan to have some cool staking program to earn 20–100% APY as well as some weekly lotto game which will give instant passive income to holders
Hi, @siddharthjaiswal @vinayakspn Do you have Whitepaper if yes, please share your project Whitepaper with as.
Our whitepaper with all the details on tokenomics and business model(whitepaper link)
Hi @siddharthjaiswal @vinayakspn My question is about your long term marketing plans. How, or through which big partnerships do you plan on utilising to pass your product onto the normal — especially non-crypto people?
Great question, we will be focusing on migrating Web 2.0 sports fans by directly working with organized fan groups of sports teams, we will be working and almost teaching them how to get the most out of the platform. If you see our platform its a bridge between Web 2.0 and 3.0, its truly a Web 2.5 platform
What is your strongest advantage that you think will make your team leading the market?
Our ecosystem, an interlinked suit of products for fans to invest, earn, redeem and stake
What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token? @siddharthjaiswal @vinayakspn
Our mission is to onboard 10million sports fan onto our platform. How we plan to do is through: 1. Building a webdapp which is web2.0 friendly where non-crypto aware user can do signup and play a part of it. 2. We are working with official fan groups and through our product Dugout this will help attract sports fan on to our platform 3. Our partnership with sporting teams such as Mumbai Indian, CSK, Manchester, Arsenal and even existing 5 sporting team partners we will get access to millions of fan base
We’re very interested in hearing more about your roadmap. What is coming up in the short term that is important for our community to know about?
We have something great lined up.. Do not want to reveal everything but we are in talks with top 10 crypto exchange to list our token post our TGE with Bitrue. Secondly, we are in discussion with top cricket teams as well as few EPL teams to do a asia fan token partnerships. Lastly, We are in discussion with ANIMOCA which is looking to back the project. We already have an in-principle partnership with sandbox to add metaverse strategy on the platform
SportZchain is building a Digital World For Fans which is transforming how fan engage with their teams. Sportzchain is not just launching Sports Token (Fan Tokens) in India and Asia market but also working on creating a platform that is much more engaging and fruitful for die-hard sports fans through features such as Gamefi, Watch2Earn, Metaverse, DAO and more.
SPORTZCHAIN IGO ON METALAUNCH
Get your hands on the #IDO allocation of the World’s First Engage-to-Earn platform, @SPORTZCHAIN.
Revised Public IGO date: Sept 6, 2022, | 1 pm UTC
✅Whitelisting in progress
☑️Whitelist timeline for Public Round: 11-Aug-2022 (1:00 PM UTC ) — 6th Sept-2022 (06:30 AM UTC)
☑️Whitelist timeline for Community Round: 11-Aug-2022 (1:00 PM UTC ) — 6th Sept-2022 (06:30 AM UTC)
➡️To participate in the Whitelist competition for Community Round: Gleam Competition link
Step-by-Step Guide: https://link.medium.com/COBLYmQ2Dsb
MetaLaunch is the world’s first multichain metaverse launchpad, accelerator and incubator, powered by Asva Labs. It provides strategic fundraising and growth frameworks to help fuel the economics of virtual worlds and gaming. In addition to MetaFi DeFi use cases, a metaverse marketplace, and play-to-earn guild integrations.