Socios aleading provider of crypto fan tokens has partnered with UEFA, the European soccer governing body, for the launch of the Champions League fan token.
Socios will launch fan tokens based on the yearly Champions League event, as well as the Europa League, Europa Conference League, and Super Cup, as part of the agreement. The collaboration will last until the 2024 season.
Socios already has fan token agreements in place with a number of UEFA teams, including Paris Saint-Germain, Manchester City, AC Milan, and Juventus.
The company intends to offer free add-on tokens to existing token holders for those and other partner clubs, incentivizing people to keep their crypto tokens.
Fan tokens are legally licensed crypto tokens that offer holders particular benefits in addition to the possibility for increased value over time. Holders of Socios tokens receive incentives such as voting on team decisions, access to exclusive events, and more.
About the partnership
To that, the UEFA fan tokens add another dimension. Socios and UEFA will provide token holders with the chance to win VIP tickets to UEFA events, a visit to the UEFA headquarters, meet-and-greet chances, and merchandise, among other things.
The relationship was announced after UEFA issued a request for proposals (RFP) in October, focusing on potential partners such as cryptocurrency exchanges, NFT platforms, and fan token providers.
“UEFA recognizes that blockchain technology will play a growing role in how we, as a society, operate and connect digitally,” said Alexandre Dreyfus, CEO of Socios. “This is why they issued an RFP, requesting the top projects in the sector to come forward and offer their partnership possibilities.”
As part of the sponsorship agreement, Socios will receive considerable marketing benefits, including virtual perimeter signage, broadcast billboards, and digital sponsorship rights in the United States.
“UEFA’s tremendous worldwide reach and network will allow us to reach hundreds of millions of fans, enhancing our visibility and allowing us to educate a large audience about the benefits of fan tokens,” Dreyfus added.
About Chiliz and Socios
Chiliz, Socios’ parent company, began forming important agreements in the European soccer scene in 2018 and has subsequently broadened its focus to include partners such as the Ultimate Fighting Championship and esports teams such as OG and Team Vitality.
Socios has lately expanded into American sports, signing deals with 27 NBA teams, including the Los Angeles Lakers and Chicago Bulls, as well as many NHL clubs and the New England Patriots of the National Football League. Due to legislative concerns in the United States, these agreements are promoted as marketing and fan interaction deals and do not currently have a token component.
Chiliz Chain, a forked version of Ethereum, is now minting Socios fan tokens. Chiliz, on the other hand, recently revealed plans to develop a second-generation fan token blockchain in collaboration with Ankr, based on the rebranded BNB Network (formerly Binance Smart Chain).
Chiliz Chain 2.0 promises reduced transaction fees than the current network and, thanks to Ethereum Virtual Machine (EVM) compatibility, remains interoperable with Ethereum and its Solidity programming language.
Chiliz believes that the new platform’s testnet will make fan tokens more approachable to a possibly much wider audience by the end of this quarter.
“We’re enabling leading companies to establish fan tokens, NFTs, and digital assets, and creating the foundations for a genuine, profitable future for sports and entertainment in blockchain,” Dreyfus said of the new platform.