May 14 – Socios.com have expanded their blockchain driven Fan Token cryptocurrency platform from clubs to national federations, with The Argentine Football Association (AFA) being the first to sign on for the launch of the national team’s Official $ARG token.
Fan Tokens are are minted on the Chiliz blockchain, and give owners access to variety of benefits including voting rights in polls, VIP rewards, exclusive promotions, AR-enabled features, chat forums, games and competitions on the Socios.com mobile app.
FC Barcelona, Paris Saint-Germain, Juventus, AC Milan and Manchester City have all launched or planned launches of fan tokens. Argentine Primera División side Club Atlético Independiente have also launched a Fan Token.
Fan tokens are tradeable on the Chiliz platform. The volume of tokens to be launched and the launch price will be released in the coming weeks.
In 2021, Socios.com says fan tokens have generated more than $120 million to be shared with club partners.
“Since assuming our management, we have faced the challenge of generating greater income for the AFA, developing new revenues and enhancing the commercial presence of our National Team in the world,” said Claudio Tapia, president of AFA.
“This agreement clearly responds to our strategy and also reinforces our digital growth. Through Fan Tokens, fans will feel closer to our national team and will be able to influence the team, earn rewards and enjoy exclusive experiences.”
The Argentina deal was announced on the same day Socios.com announced three Indian Premier League (IPL) cricket teams and the NASCAR team Roush Fenway Racing joining their network.
Alexandre Dreyfus, CEO of Chiliz and Socios.com, said: “In a single groundbreaking day we’ve added new partners from three continents to our ever-growing roster.The future of sport rests on transitioning passive fans into active fans through transactional fan engagement; our fan engagement platform enables our partners to plug into a global network of elite sporting organisations and achieve this necessary evolution.”
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