Leading sports fan and rewards platform, Socios, continue to record remarkable growth following the Portuguese Football Federation (FPF) announcement of its decision to launch a fan token on its platform.
Socios, the fan’s engagement arm of Chiliz, via a statement announced the launch of Portugal’s national team fan token ($POR). According to the announcement, the token will provide fans globally with a new way of interacting with the Portuguese team.
🇵🇹 The European Champions are here
— Socios.com (@socios) June 24, 2021
The statement disclosed that the fan token would be released soon. Also, pre-existing Portuguese users on Socios app will receive the first $POR tokens before the fan token is generally launched.
Nuno Moura, Chief Marketing Officer of the Portuguese Football Federation expressed his delight with the new initiative. He explained that the collaboration with Socios will enable the Portuguese national team builds stronger connections with fans globally.
“[…] The launch of the $POR Fan Token will allow us to create new ways of reaching our supporters and interact with them in new and innovative ways. This will create new opportunities to engage fans with the Portuguese Team like never before, providing them with exclusive benefits, experiences and rewards,” he said.
Additionally, it’s worth noting that Portugal as a result of the new partnership becomes the 40th sporting organization on Socios. It is, however, the second national football team to launch a fan token on the Socios network.
Chiliz and Socios Growing Ecosystem
Meanwhile, the Argentine Football Association (AFA) is the first national team to launch fan tokens to interact with their global fanbase. The AFA earlier tapped Chiliz to create a fan token ($ARG) for better means of interacting with fans.
Claudio Tapia, president of AFA had also disclosed that the integration would help the AFA generate more income, and enhance the team’s commercial presence globally.
Focused on transitioning passive sports fans into active fans, Alexandre Dreyfus, CEO of Chiliz and Socios, said Portugal integration will create a better relationship between supporters, and the teams.
He noted that “Right now, football fans across the continent are sharing the same dreams and backing their teams to succeed in the Euros.”
Dreyfus further reiterated the platform’s commitment towards providing sporting organizations with the ability to interact and monetize their global fanbases. He said, “At Socios.com, our mission is to help fans feel that same sense of community and connection with their teams, not just during the big games, but all the time.”
Additionally, to celebrate Portugal’s partnership, Socios announced the give away of an official Jersey.
To celebrate the European Champions joining the Socios family, we are giving away an official @selecaoportugal kit.
✅ Comment $POR
— Socios.com (@socios) June 25, 2021
As of the time of publication, Chiliz’s price was $0.230730. The token had a 24-hour trading volume of $172,008,715, and a market cap of $1,231,068,713.
CHZ price increased 2.2% over the last 24 hours.
It is worth noting that this year CHZ has recorded remarkable growth recently. In 2021 alone the fan tokens have generated over $150 million in revenue to be shared with Socios partners. As a result of the impressive growth, the token market cap for fan tokens has surpassed $263 million.
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