Socios.com, a blockchain firm aimed at tokenizing the sports industry, announced plans to bring a sports and entertainment center to The Sandbox metaverse. The announcement was made by Chiliz, the first-ever tokenized sports exchange that is also responsible for powering the Socios.com blockchain-based fan rewards and engagement app.
The Sandbox metaverse is a blockchain-based gaming platform, known for allowing gamers to play, socialize, create games, and interact with iconic characters and IPs that is complemented by content created by the gamers themselves.
We are happy to announce that @socios is joining the @TheSandboxGame Metaverse! 👏https://t.co/BUHrX3uq3e$CHZ
— Chiliz ($CHZ) (@Chiliz) October 20, 2020
About The Sandbox
The Sandbox is a virtual ecosystem that enables players and creators to develop, manage, and incentivize their gaming experiences. Based on the Ethereum blockchain, this ecosystem uses NFTs and $SAND, their own utility token. However, they have another type of token known as LANDS. These refer to non-fungible tokens (NFTs) that are used as representatives for specific digital locations in The Sandbox ecosystem.
As a digital ecosystem, The Sandbox has successfully partnered with top-ranking gaming companies like Atari and Square Enix. Besides, game companies chose them because they help in building creative and fun “play-to-earn” gaming platforms that players create and manage.
Socios.com acquires LAND for multi-sport fan zone
In the Sandbox metaverse, Socios.com purchased a 24×24 large estate, represented by 576 LANDS. This will be the location where the virtual multi-sport fan zone will be built. This digital ecosystem will showcase all the clubs that have partnered with Socios.com. Through social gaming experiences that take place within The Sandbox virtual ecosystem, the community will be engaged in sporting activities. Additionally, partner clubs, such as Juventus, Paris Saint-Germain (PSG), and FC Barcelona will be featured in the in-game entertainment and sports fan zone created by Socios.com.
Speaking about this new virtual fan zone, the CEO and founder of Chiliz and Socios.com, Alexandre Dreyfus, stated, “The Sandbox will allow us to recreate the Socios.com ecosystem in the metaverse. We’re going to build a vibrant digital home for all the fans of our partner clubs, where they can check out digital stadia and enjoy a wide variety of digital collection and engagement experiences. We’re also going to be on the same map as other major blockchain and commercial entities, opening the door for further creative collaborations.”
This collaboration will also give gamers, crypto enthusiasts, and sports fans an opportunity to enjoy the gaming experiences present in the Socios.com neighborhood. NFTs, which are Socios.com assets, may be made available in The Sandbox metaverse. The Game Maker feature available in The Sandbox will also offer more gaming experiences for sports fans. Of particular note is that the stadiums of the sports clubs partnered with Socios.com will be recreated in the gaming platform’s virtual world.
Sebastien Borget, COO and co-founder of The Sandbox, says, “We’re pleased to welcome Socios into The Sandbox metaverse, bringing millions of football and sport fans the opportunity to discover and engage with new interactive entertainment experiences that will allow them to socialize in a 3D virtual world. Progressively, we are turning our vision of building a mainstream; family-friendly gaming virtual world into reality through the addition of major sporting organizations in a multi-sports fan zone hosted by Socios.com. Together, we’ll expand the meaning of a Fan Zone with the use of tokens and NFTs in a mainstream context..”
Earning more with Fan Tokens
Socios.com has introduced the Fan Tokens to allow sporting organizations to monetize their global fanbases. Fan Tokens refer to digital assets through which fans can enjoy various engagement opportunities. Such opportunities may also include leaderboard competitions, voting rights, and information on new features.
Up to 11 renowned sporting entities have launched their Fan Tokens on Socios.com. Such sporting entities include clubs like Juventus, Paris Saint-Germain (PSG), and FC Barcelona. There are high hopes that more sports organizations will launch their own Fan Tokens before 2020 comes to an end.
As of the time of writing, Chiliz (CHZ) price was $0.00933215 with a 24-hour trading volume of $4,616,123. CHZ price also went down by 1.2% over the last 24 hours. It also has a circulating supply of 5.3 billion coins and a max supply of 8.89 billion coins. Binance is the current most active market trading it.
Before now, Socios.com revealed plans to carry out four Fan Token Offerings (FTOs).
For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.