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Socios: Fan Tokens for ESports Fan Engagement

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Inven Global recently posted an article about how Socios.com, a platform launched in June 2018, aims to reinvent and pair esports and cryptocurrencies.

It’s a common knowledge that when people enjoy a certain product, its fanbase becomes more solid and increasing. And a growing fanbase can be a great sign of product growth and success. This is why Socios.com, powered by Chiliz, plans to give fans methods to support financially. To make this happen, Socios.com have partnered with high-profile football clubs like Juventus and Paris Saint-Germain.

Founder and CEO of Socios.com, Alex Dreyfus stated that the project’s potential is huge. He also said, "Our long-term aim is to onboard more than 50 football clubs and we hope to inject an additional $300 million into the sports economy over the next few years. We have started at the very top, with some of the biggest names in football, and our ambition is to build the world's biggest global football community and marketplace for football fans alongside demonstrating that blockchain and cryptocurrency is the trusted technology of the mainstream."

Through their platform, Socios.com aims for fans to grow together by purchasing “Fan Tokens”. Dreyfus explained that Fan Tokens are “specific to a team or a club, and are a finite, digital asset that provides access to an encrypted, immutable ledger of voting and membership rights ownership. The tokenized fan-voting platform uses Fan Tokens, which operate on a separate permissioned side chain.”

But Fan Tokens are limited in number. They are fungible, which means that the token’s ownership could be traded and the price is market-driven. The platform is under development to achieve investment from fan monetization and to ultimately help sports teams to increase engagement of their fans.

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