Description
Swoop, operated by WEBUTECH PTE. LTD., is a Web 3.0 fantasy cricket application and gaming platform available on the web and as a mobile application. It offers users skill-based fantasy sports and quiz contests, both paid and free, where they can win prizes in Bitcoin and fiat currency. To participate in paid contests, users deposit funds which are used as an entry fee. The platform leverages blockchain technology, allowing users to engage with NFTs, and was launched during the Indian T20 League in 2022. To comply with regulations, Swoop collects user information like name, phone number, age verification, location, and Permanent Account Number (PAN) for tax purposes on winnings over a certain threshold. The service is considered a game of skill and is not available to users in certain Indian states for paid contests.