Legia Warshaw to launch $LEG fan token on Socios.com platform

February 23 – Poland’s Legia Warsaw has become the latest football club to join Socios.com’s blockchain-based fan token platform with the launch of the $LEG Fan Token.

The issue will see a maximum of 5 million tokens released. Further details of token price and launch date are still to be released.

$LEG Fan Token owners will receive benefits including the right to vote in certain club decisions each season, VIP rewards and experiences, exclusive club and sponsor promotions, games, competitions and ‘super-fan’ recognition.

Tokens on the socios.com platform are tradeable – essentially they are a form of cryptocurrency but essentially benefit based rather than financial value driven.

Legia will be the first Polish club to joins the Socios.com partner list, but are among 21 other sporting organisations who have issued tokens via the Chiliz-driven platform. Football clubs who have issued fan tokens include FC Barcelona, Juventus, Paris Saint-Germain, AC Milan, AS Roma, Atlético de Madrid, Galatasaray and Trabzonspor.

Dariusz Mioduski (pictured left), CEO of Legia Warsaw, said: “Pioneering solutions and new technologies, which additionally give our fans unique opportunities to actively participate in the life of our club, are the exact direction in which we want to develop.

“We believe that the potential of the most popular sports brand in this part of Europe, which Legia Warsaw undoubtedly is, will allow Socios.com to gain many fans not only in Poland, but also in the international arena.”

Socios.com is powered by the utility token Chiliz $CHZ, with the app platform now having been downloaded more than 500,000 times.

Fan Tokens generated more than $30 million in revenue in 2020 that was shared with Socios.com clubs and partners. “In late December and early January several Fan Tokens were listed on major global exchanges, including Binance, driving significant activity, with Paris Saint-Germain ($PSG) and Juventus ($JUV) trading volumes hitting a 24 hour high of $300 million in late December,” said Socios.com.

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