[RECAP] AMA: Kommunitas x Sportzchain
Siddarth Jaiswal and Vinayak Yannam spoke in-depth about SPORTZCHAIN during our AMA session. For those who missed the event, please read the full recap below.
SEGMENT 1: INTRODUCTION QUESTIONS
Question 1: 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?
Mr. Siddarth: Absolutely as the name suggests its all about sports and sports fans. Sports is 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.
Icing on the cake is that for our token holders, we also have passive reward features such as staking where you can earn upto 40% 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.
Question 2: Ok let’s talk more about your token specifically — $SPN. Can you elaborate a bit more about the token itself and its utilities
Mr. Vinayak: Let me take that one
$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
Question 3: 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?
Mr. Siddarth: Glad you asked…
Yes, we have closed our private round of $SPN at $0.0022 where only curated whitelist participants were able to participate.
Earlier to this our project was backed by well known VCs and KOL including DARQ Capital, Polygon, Head of Guild Near Protocol, Ex-COO Goldman Sachs India, SUNiCON Ventures and more
However, due to increased interest we will be doing a public round through partnerships with launchpads like yours and undertake IDO and IEO at $0.0024 before we list our token at $0.004 on a couple of centralised exchanges.
I am sure, the community out here will be excited and not miss the last chance to grab $SPN early and reap early benefits. 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 whitelist price.
I just want to shout out that the Kommunitas team is bringing a great early opportunity for the members to grab $SPN and participate in the billion dollar opportunity of Asian sporting ecosystem. With your love and support we can together become bigger than Chiliz
Question 4: Explain your milestones and progress of your roadmap to our users
Mr. siddarth: The journey so far was interesting and we are moving at the speed of light. As mentioned earlier, 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, today is a lucky day and I am delighted to announce that our alpha app will be launched in the next three hours and users will be able to participate in Asia’s first BINDING poll. Please note that every participant will win upto $10 worth of our $SPN token and a few lucky winners will win iPhone 13, ShopTheArena vouchers.
I am sure, the KOMmunity will reap the most out of it. You all can login on fans.sportzchain.com and signup to participate early and win rewards.
Also one last thing — 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.
Question 5: 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
Mr. Siddharth: 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. We plan to BURN around 1–5% of total token during 2 quarter from TGE, benefiting the token holders
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
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 50% of tokens will be unlocked during TGE and remaining 50% will be unlocked in two tranches of 30 days. More details on tokenomics can be read in our whitepaper which is available on our website.
https://sportzchain.com/wp-content/uploads/2022/07/SPORTZCHAIN_whitepaper_v5.pdf
SEGMENT 2: LIVE SESSION
Question 1: Many blockchain projects are just on paper and have no real meaning. What practical product is your project using? What plans do you have for a better product in the future?
Mr. Siddarth: Great question. This was the same logic when we decided to launch our application prior to the token so that SPN token holders will be able to receive great utilities and benefits. From a future stand point, we are not just a fan token company, but will be incorporating gameficiation (play to earn and Watch to earn) in addition, we plan to onboard large fan communities as well
Question 2: Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
Mr. Vinayak: Very interesting question, in terms of the UI/UX we are taking the best examples of UI/UX from Web 2.0 fan engagement platforms, especially a large part of the fan community is Web 2.0. So we have implemented this strategy to ensure we capture a large audience
Question 3: When will your tokens be listed on the exchange and which exchanges do you plan to list on in the future?
Mr. Siddarth: Post our IDO, we plan to do our IEO in Bitrue and will be listing the same there. We are also in discussion with Gate as well as Bittrex to list our tokens post TGE
Question 4: Southeast Asia is a very vibrant market and there are many new platforms under development. So what do you think about Southeast Asia and do you have plans to grow there?
Mr. Vinayak: We are a Singapore based company, and we will expand across Southeast Asia, from Indonesia, Malaysia, Thailand, Vietnam to Philippines, our aim is to launch the platform with local language support and community management as well
Question 5: read about “FIRST CITIZEN PROGRAM” Only for first 10,000 whitelist participants and holders. Is it possible to participate now?
Mr. Siddarth: Yes this is an interesting program for benefitting the early holders of the token. We will be allocating the benefits such as free airdrop and more to first 10000 token holders. So you can be eleigible by participating in our IEO/IDO and be one of the fiirst citizen to the program
SEGMENT 3: LEARN AND EARN
Question 1: What is the total supply of $SPN
Answer: 10,000,000,000
Question 2: Name any two investors that have backed Sportzchain project?
Answer: DARQ Capital, Polygon, Head of Guild Near Protocol, Ex-COO Goldman Sachs India, SUNiCON Ventures
Question 3: How many teams have we partnered so far for exclusive launch of fan tokens and NFTs?
Answer: 5
Question 4: What are the rewards that you can win if you go and participate in the upcoming poll in our alpha launch?
Answer: iPhone 13
Question 5: Sportzchain is a priority project on Kommunitas so at what price $SPN will be available for Kommunitas members and what is the expected price of SPN during TGE / listing on centralized exchanges??
Answer: IDO Price : $0.0024 Listing Price $0.004
Sportzchain Official Links
🖥 Website: https://sportzchain.com
💬 Telegram: https://t.me/SportzchainCommunity
🐦 Twitter: https://twitter.com/sportzchain
⭐️ Discord: https://discord.com/invite/E4X3Gg9nbK
🔍 Medium: https://medium.com/@SportZchain
🔗 Facebook: https://www.facebook.com/SPORTZCHAIN-104322128532497/
