In the present day Chiliz introduced a partnership with the Italian Soccer Federation (FIGC) to launch a blockchain fan token for the nation’s crew on Socios.com in addition to a rewards app. The Italian crew is the present UEFA Euro 2020 champion.
Socios has already launched fan tokens for a lot of main soccer golf equipment resembling Paris Saint-Germain (PSG), Manchester City and FC Barcelona. Famously, a part of Lionel Messi’s contract with PSG was paid utilizing fan tokens.
Based on Chiliz, Socios.com has generated greater than $150 million in income this yr from token gross sales.
Aside from benefiting from attainable worth good points (or drops), fan tokens allow entry to voting, rewards, promotions and competitions.
The Italian federation will spend the cash generated by means of the partnership on bettering sports activities services across the nation. Socios may even be the title sponsor for the Ladies’s Italian Cup for the subsequent two years.
“This partnership will enable us to develop our relationship with our followers, offering new engagement alternatives and the prospect for followers to be rewarded,” mentioned the President of the FIGC Gabriele Gravina.
“It’s additionally one other vital step in persevering with the event challenge of Italian soccer, as a result of it’s going to enable us to take a position into new assets at a grassroots stage. The partnership will enable us to assist the event of youth soccer and your entire motion, from the bottom to the highest of the pyramid.”
The nationwide groups of Argentina and Portugal have additionally beforehand partnered with Socios.
Whereas Socios initially targeted on fan tokens for soccer, it has since diversified and now targets different sports activities and can be launching NFTs. It made a serious push into the USA, touchdown offers with 24 NBA basketball groups, together with the LA Lakers. Nevertheless, the U.S. offers are for fan engagement relatively than tokens due to the uncertainty about whether or not tokens are thought-about as securities in the USA.