The SPORT security token is completely different from SPORTS utility token, and we want to stress that the two should never be confused with each other. The security token, SPORT, is a financial instrument for investors to invest into ZenSports and receive investment returns. The sale of SPORT security tokens was completed earlier in 2019 and is no longer open to investors. SPORT is not integrated into the ZenSports app in any way, shape or form. No deposits, bets, withdrawals, or rewards can take place in-app using SPORT.
SPORTS, on the other hand, is currently being offered as a true utility token on a fully functional application and active network. It is only used as a mechanism for betting and earning rewards through the ZenSports app and network. SPORTS has not, nor ever will be, sold to investors as an investment or with the potential to receive investment returns. To buy the SPORTS utility token, ZenSports users are required to wager at least 50% of purchased tokens before they could withdraw or transfer them. SPORTS is for betting, not for speculation.
ZenSports has received an in-depth legal opinion from a leading U.S.-based law firm that SPORTS is indeed a utility token under the definitions and guidelines of the SEC. The legal opinion highlights the functional utility applications of our SPORTS token, how it is actually used by customers within an existing network for betting and rewards purposes, and is not a means of generating investment returns for customers.
The complete copy of the legal opinion is available for review by interested parties that the ZenSports management team determines should be granted access to it. To request a copy of this legal opinion, please submit an email request to [email protected].