Your Sportimex Questions: Answered!
We asked you to send in your burning questions about Sportimex for the team to answer. Here are the answers to those questions.
Want to ask more? Great! Head to our Sportimex Telegram group or why not ask us on X?
I am Romanian and use Leu (RON). Can I buy Player Tokens?
Yes! We have integrated Stripe into our payment system which now makes purchases with currencies from around the world quick and seamless.
How does tokenization benefit fans?
Tokenization allows fans to participate in the sports industry by buying and trading virtual pieces of contracted players as Player Tokens, digitally, throughout the token's life-cycle without affecting the actual contracts of the players in real life - there is NO third-party ownership of the player or their contract. These digital Player Tokens are Real-World Assets (RWAs) which may potentially increase or decrease in value based on the player's real-life performance and secondary market trading opportunities.
Through holding and trading Player Tokens, fans and token holders can potentially be involved in unforgettable in-person access to the club and players through SPORTIMEXperiences.
Is this not just a fan token?
It's not! Fan tokens are limited by regulation. Sportimex instead provides official 'Player Tokens'. Our innovative concept of tokenizing players uses initiative market valuation of players through AI mechanisms while also working closely with our partner clubs. These Player Tokens can then be traded on the Sportimex Marketplace for open market prices.
Can I earn rewards or promotions through owning player tokens?
Yes! We offer various incentives and promotions for token holders, such amazing in-person experiences with the club and players through SPORTIMEXperiences. There will be exclusive club and player access via different campaigns as well, plus discounts on merchandise or events. Whatever exciting and fulfilling ways we can think of which excite the fans, we will aim to bring to life!
Is there a limit to how long Player Tokens last?
Yes, each token has a life-cycle based on the length of time a player is at the football club. The token life ends when the player transfers clubs. Rewards are then distributed to token holders at that time in the form of early access to new tokens, amazing in-person experiences via SPORTIMEXperiences, NFTs, cryptocurrencies, early access and more.
What makes Sportimex different from other sports platforms?
Sportimex merges the worlds of virtual assets and sports industry through AI-based market valuation and tokenization, creating a new way for fans to participate in their favorite sports. Player Tokens are not generic 'fan tokens' like with other projects, they are Real-World Assets based on actual official player valuations through Sportimex and our partner clubs - a first for the industry!
If I buy a Player Token am I supporting the club directly?
Yes! Clubs open up new revenue streams for each Player Token sold in the initial buy window. This creates a superb way of increasing the club's income to help with running costs, maintenance, improvements and can contribute to player transfers and more. We're creating a new form of income for these clubs which is sustainable.
Is there a limit on how many tokens I can own?
No, you can own as many tokens as you like! Each token can potentially bring access to several prize campaigns over and above the trading opportunities from the secondary market.
Can I buy tokens for any player on your platform?
Currently, we offer Player Tokens for selected players who are contracted with our partner clubs. We plan to continuously expand our offerings in the future as we grow, both for players within each club and for multiple clubs across the top football leagues.
How does Sportimex calculate the market value of players?
Sportimex uses AI-based algorithms and multiple data sources, including performance data, demographic data, scout reports, and historical data for players. We also work closely with our official partner clubs in determining the value as well.
Is Sportimex cleared with the big footballing bodies like FIFA and UEFA?
Yes, Sportimex has written legal and regulatory advice from a top official at UEFA, confirming Sportimex is clear to operate within football. In addition, we follow local requirements and rules depending on which league the clubs are in.
Will you be adding my favorite team in Turkey?
As we grow our partners, we will be adding more and more clubs from different leagues and making their top young stars into Player Tokens.
Can I sell my tokens at any time?
Yes, you can buy or sell your tokens on our secondary marketplace at any time, subject to market demand and liquidity throughout the life cycle of the token, and after the initial buy window and lock window have taken place.
Do you have a timeline for TGE?
Not as yet, however, we have a roadmap that we plan to share in the coming period ahead. We are in contact with several exchange platforms and projects as we progress towards our different milestones, Token Generation Event (TGE) being one of them.
What are smart contracts and how do they work with Sportimex?
Smart contracts are digital agreements that execute automatically when certain conditions are met. They allow for a secure and transparent way to handle transactions within our platform. Sportimex will be powered by Lumia's hyper-liquid L2 blockchain, while also being adaptable for multi-chains. Tokens can be bought simply using Fiat (via our new Stripe) for localized payment methods or cryptocurrency.
What is the role of the insurance pool in Sportimex?
The insurance pool acts as a safety net for token holders in case of any unexpected events, such as a player leaving the club for free or getting permanently injured. This is made up from a dynamic amount between of the club's revenue generated from each player's token and from our platform's revenue from each player's token.
How can I use my tokens besides buying and selling them?
Holding and trading Player Tokens can qualify you for ongoing promotions with clubs, from meet and greets, merchandise, prizes and a whole lot more through SPORTIMEXperiences. In the future you will also be able to stake your tokens in our staking pool to earn rewards or participate in gamified features within our platform, such as Fantasy Football, using actual official Player Tokens.
Are there any fees associated with buying or selling tokens?
Not for the user. There is a small commission fee on income generated from secondary market transactions, which is contributed to our insurance pool. The remainder goes to the club, with a small percentage going to Sportimex to aid the platform's development.