The brand will broadly utilize these funds on two fronts: building its alpha version of an interactive blockchain-based web app and implementing branding & marketing initiatives to drive awareness around its unique offerings.
SportZchain, India’s first blockchain-based fan engagement platform to connect fans and sports teams, has recently closed pre-seed funding of $400K. The brand will broadly utilize these funds on two fronts: building its alpha version of an interactive blockchain-based web app and implementing branding & marketing initiatives to drive awareness around its unique offerings. The funding round was led by Darq Capital, a new-age VC fund investing in crypto/blockchain based ventures and participated by other investors such as Mr. Jagadeesh Atukuri, Director of Comply Dot, and SHISAN Investments (founded by 5 partners incl. EX-COO of Goldman Sachs).
SportZchain spokesperson said, “We are delighted to close our pre-seed funding round successfully. We are also proud to attract relevant investors like Darq Capital, Comply Dot, and Shisan Investments, who believed in our idea and the long-term vision to create a disruptive fan engagement platform that can benefit multiple stakeholders. We are a sports-loving, crypto embracing team with an optimal mix of experience in the fields of strategic consulting, blockchain technology, fintech and sports marketing with a vision to empower fans and disrupt the fan engagement industry.”
Ideated in March 2021, Singapore-based SportZchain was founded by Siddharth Jaiswal with the belief that sports fans deserve a basic right to be heard by their favorite sports teams, help them make the right decisions by voting on official binding polls, and reap financial gains by owning branded sports token. The company is backed by a robust advisory team, comprising leading personalities like Ajeet Khurana (Ex-CEO of Zebpay and Head of Blockchain & Crypto Committee, India), Suhail Chandok (Star Sports TV Presenter, Analyst & Commentator – IPL, ICC Cricket, World Cups, Pro Kabaddi, Wimbledon, etc.), Oksana Belousova (CEO of Fenix Technology), to name a few.
With a vision to convert passive fans into Invested Fans, the blockchain-driven platform aspires to become a cornerstone in offering radical fan engagement in India, enabling and empowering fans and sports teams to connect better and benefit mutually.
Source: Business World