FAQs

1. WHAT IS SPORTVEST?

SportVEST is a product of Global Sports Inc. with SportVEST (“SVE”) an ERC-20 Asset-Backed Digital Token built on blockchain technology and linked to the performance of the SportVEST Venture Fund’s portfolio.

2. WHAT TYPE OF TOKEN IS SVE?

On the basis of the current guidelines published by the U.S. Securities and Exchange Commission (the “SEC”), SVE Tokens may be classified as a security in the U.S.A.

3. CAN I PURCHASE SVE TOKENS IN MY JURISDICTION?

It depends on your nationality and country of residence. Please read the Token-Sale Terms & Conditions and seek legal advice in your jurisdiction.

4. WHAT IS THE MINIMUM PURCHASE AMOUNT?

The minimum Purchase Amount depends at which stage you purchase SVE Tokens.

Stage 1: Pre-Registration:
$30,000 (USD) minimum purchase amount for all Purchasers (excluding Restricted Areas as defined in the Token-Sale Terms & Conditions).

Stage 2: Pre-Sale:
$25,000 (USD) minimum purchase amount for U.S. “Accredited Investors”, $10,000 (USD) minimum purchase amount for Rest of World (excluding Restricted Areas as defined in the Token-Sale Terms & Conditions).

Stage 3: Token-Sale:
$20,000 (USD) minimum purchase amount for U.S. “Accredited Investors”. $1,000 (USD) for Rest of World (excluding Restricted Areas as defined in the Token-Sale Terms & Conditions).

5. WHAT IS THE SVE TOKEN PRICE?

The SVE Token price is fixed at: $1.10 U.S Dollars (USD) = 1 SportVEST (SVE) Token.

Purchasers using Great British Pounds (GBP) and Euros (EUR) should refer to XE for exchange details.

Purchasers using Ethereum (ETH), Bitcoin (BTC) or Litecoin (LTC) should refer to CoinMarketCap for exchange details.

6. DO I NEED TO BE AN “ACCREDITED INVESTOR”?

If you are based in the United States you must be an “Accredited Investor” as detailed in question 7. If you are based outside of the United States you must meet all the ICO, KYC and AML requirements.

7. WHAT IS AN “ACCREDITED INVESTOR”?

If you are based in the United States, an “Accredited Investor”, a person must demonstrate an annual income of $200,000 (USD), or $300,000 (USD) for joint income, for the last two years with expectation of earning the same or higher income. An individual must have earned income above the thresholds either alone or with a spouse over the last three years. The income test cannot be satisfied by showing one-year of an individual’s income and the next two years of joint income with a spouse. The exception to this rule is when a person is married within the period of conducting a test. A person is also considered an accredited investor if he has a net worth exceeding $1M (USD), either individually or jointly with his spouse.

8. WHO IS RESPONSIBLE FOR KYC AND AML PROCESSING?

All Purchasers (regardless of location) are required to pass through the Know Your Customer (“KYC”), anti-terrorism and Anti-Money Laundering (“AML”) procedures in order to comply with regulations. We have partnered with Identity Mind (and other leading identity solution providers).

9. WHEN DO I RECEIVE SVE TOKENS?

24-hours after the Purchase Amount is received by us. Pre-Registration Purchasers will receive SVE Tokens before the start of the Pre-ICO stage.

10. DO I HAVE TO PAY TAX ON SVE TOKENS?

We cannot provide tax advice. You should seek professional advice from a qualified tax advisor in your jurisdiction.

11. CAN SVE TOKENS BE TRADED?

Yes, following the Vesting Period, SVE Tokens will begin trading on the public crypto exchanges and will be able to be exchanged (traded) in the future.

12. WHY ARE WE USING A CONVERTIBLE NOTE INSTEAD OF A SAFT?

The Simple Agreement for Future Tokens (“SAFT”) will become a redundant agreement over the coming months and in order to comply with regulations we will be using a Convertible Note for Private Placements and Pre-Registration.

Can’t find the answer to your question? For more information please read the Whitepaper, Token-Sale Terms & Conditions or contact us and we will be happy to help.