Socios.com, a blockchain firm aimed at tokenizing the sports industry has revealed plans to carry out 4 Fan Token Offerings (FTOs).
According to a tweet by Socios.com and Chiliz CEO, Alexandre Dreyfus, the project will be carrying 4 Fan Token Offerings (FTOs) starting from August 25, 2020.
The names of the teams remain unknown. But, on August 18, 2020, an AMA session will be held and the 4 teams will be disclosed. Socios.com also revealed that more Fan Token Offerings (FTOs) will be carried out.
Breaking: It is official. The 4 Fan Token Offering (FTOs) will start on the 25th of August. Save the date.
The name of the 4 teams participating will be disclosed during the live keynote AMA in 7 days, the 18th of August.
Then, we will announce more teams & more FTOs.$CHZ.
— Alexandre Dreyfus (@alex_dreyfus) August 11, 2020
In subsequent tweets, Alexandre asked his followers to give suggestions of teams they want Socios.com to launch a token with and they stand a chance to get free Chiliz tokens, $CHZ.
Reply to my message below by tagging the football team you’d want us to launch a token with. Win free $CHZ.
— Alexandre Dreyfus (@alex_dreyfus) August 12, 2020
About the Fan Tokens
Following the launch of the Socios.com platform and blockchain ventures, a new type of token was created, the Fan Token.
The fans of the proposed FTOs team will have to purchase $CHZ via a cryptocurrency exchange to acquire Fan Tokens.
ChiliZ ($CHZ) is an ERC20 utility token on the Ethereum blockchain. The token also serves as the digital currency for the chiliZ and Socios.com platform.
Notably, these tokens are finite and specific to a team. They also give access to an encrypted ledger of voting and membership rights ownership.
Accordingly, ownership of the token offers fans the chance to partake in fan-led decisions through a mobile voting platform. As well as, serving as a medium into a secure, exclusive inner circle of fans, with shared passions for the team.
The more tokens a fan holds, the more they vote, the higher the rating of that fan. Therefore, moving them upwards through different reward tiers until they get to the highest VIP benefits on offer.
Additionally, football clubs intend to use Socios.com as part of their fan engagement strategy in building their global fan bases across regions like Asia. This gives the clubs additional revenue streams that are digital, secure, transparent, and engaged with a real fan experience.
Other projects from Socios.com
Earlier, Alexandre Dreyfus also broke news about Apple approving the new Socios.com 2.0 app. He added that the application will be released next week.
Apple just approved our new @socios 2.0 app, to be released next week. New design and the foundation for next community, trading, and secret features. $CHZ pic.twitter.com/FDi7edwlpq
— Alexandre Dreyfus (@alex_dreyfus) August 11, 2020
Before now, the Fan Token Offering (FTO) for FC Barcelona became available on the Socios app. Previously, Fan Token Offerings were held and completed for many top clubs like Juventus and Paris Saint-Germain.
Also, Galatasaray football club included their basketball and eSports fans to participate in the Chiliz’s fan voting app. Chiliz also launched the Socios United ($SSU) Fan Token on its app.
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