Join our Waitlist for Expert Advice!

Sportzchain Co-Founder Vinayak Yannam On India's First Phygital Sports NFT And The Dizzying Crypto Crash In a zoom video interview with us, Sportzchain co-founder Vinayak Yannam spoke about launching India's first phygital sports NFT, the reason behind plummeting tech stocks and more.

By Kabir Singh Bhandari

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Surjeet Singh Phygital Memorabilia

In a zoom video interview with us, Sportzchain co-founder Vinayak Yannam spoke about launching India's first phygital sports NFT, the reason behind plummeting tech stocks and more.

In his current position, Vinayak is responsible for managing the company's go-to-market (GTM) strategy, team partnerships, product strategy, and account management. Sportzchain is a blockchain-based fan engagement platform. The rare phygital NFT is a framed match day memorabilia symbolizing the notable achievement of Tamil Thalaivas captain and ace defender Surjeet Singh, a record 300 tackle points in the Kabaddi League.

FULL VIDEO: Sportzchain Co-founder Vinayak Yannam on crypto currency crash, India's first phygital sports NFT

As part of the phygital launch, Sportzchain also offered additional rewards to collectors. These rewards will be in the form of player meet and greet match day tickets, and early access to Tamil Thalaivas fan tokens. Along with this, the Sportzchain team shal also hand-deliver this rare phygital NFT and celebrate the noteworthy moment with a true-blue Tamil Thalaiva fan.

Before founding Sportzchain, Vinayak had worked with multiple reputed companies, including Capgemini Ventures, Aranca, Lynk Global, JPMorgan Chase, and Level Up! Games. With a vast experience and being one of the early movers and shakers in the Indian NFT marketplace, he understands the reason behind the recent crypto crash. "It is a very complex situation and has been triggered because of multiple events. There is inflation, the Russia Ukraine war and the supply chain issues happening in China. So all of these combined have affected the economy. Also the valuation of a lot of the tech stocks is sky high, so there was some amount of correction expected to happen. On the crypto side of things also there has also been a massive impact," explains Vinayak.

"Stable coins was one of the most preferred cryptocurrencies in the world because its value did not fluctuate too much. But once something went wrong there, there was a subsequent effect on the market. It's a turbulent time during which we will see some companies going up and others going down," he further elaborated.

To see the entire video interview where he discusses in detail about the NFTs, crypto crash and more, click on the link.

Kabir Singh Bhandari

Entrepreneur Staff

Former Senior Assistant Editor

Business News

A Billionaire Founder Admits He Had 'Horrible Habits' — Then He Started a Morning Routine That 'Transformed' His Life

Kind Snacks founder Daniel Lubetzky used to go to sleep at 2 a.m. and skip his morning workout.

Business News

Google's CEO Says AI Is Now Responsible for 25% of 'All New Code' Created at the Company

Google CEO Sundar Pichai said engineers are moving faster because of AI.

Business News

Starbucks Is Ditching Olive Oil Coffee From Its 'Overly Complex' Menu

The move is part of an effort to turn around lagging sales.

Business News

Read the Memo Dropbox's CEO Wrote to Staff Announcing Layoffs, Cutting 20% of Workforce

Dropbox CEO Drew Houston announced the company was laying off more than 500 employees in a blog post on Wednesday.

Starting a Business

Which Business Model Is Right for You? Here's What You Need to Know Before Choosing One.

Choosing the right business model is pivotal in shaping your entrepreneurial journey. Explore the benefits and challenges of various models — from franchising to lean startups — to find the one that aligns best with your vision and market needs.