Home Health What is Socios, the app that sells the digital coins of football teams

What is Socios, the app that sells the digital coins of football teams

by admin

Every football fan’s dream is simple: see your team win every tournament and competition, with the best talents around. And this dream can be more concrete and not limited to the purchase of tickets at the stadium or uniform: Socios.com, a blockchain-based platform, allows fans to purchase so-called fan tokens, digital representations of participation in the team’s activities: activities can be surveys, contest, discounts dedicated or even events exclusive to token holders.

The case

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To date, there are already dozens of fan tokens on the platform: football teams (Valencia, Milan, Arsenal, Roma, Atletico Madrid and others), eSports teams, basketball, cricket, Mma and Formula 1. To buy these tokens, you first need to buy Chiliz (Chz), the platform’s token, which can be traded either son the Socios exchange market (Chiliz Exchange), both on other popular markets, such as Binance and Coinbase Pro.

Once bought Chz, which is a token on Ethereum and on Binance Smart Chain, it can be transferred to the Socios wallet (available as an app for iOS and Android) and used to purchase fan tokens, which are available at a price that is expressed in Chz. Most popular teams they will have more requested tokens, and therefore more Chz will be needed to buy them. Through this dynamic, users can trade fan tokens as if they were shares and also take advantage of the price increase.

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Although there are still no examples of this, last March Socios announced a collaboration with Chainlink, the most popular pricing delivery platform in the blockchain industry, for real-time issuance of important events that took place in the world of sport, such as a championship victory, a spectacular goal or an important anniversary.

Socios, through the Chiliz token, is today one of the most popular and active platforms based on blockchain: the token Chz has a capitalization of over $ 1.1 billion and generates a daily trading volume of approximately 200 million. This value is calculated excluding the capitalization values ​​of the individual fan tokens. Furthermore, Socios announced that in future many tokens will be burned by circulating supply, causing the price to rise if demand remains constant.

The background

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The agreement with Inter and the foul on Khaby Lame
The latest announcement by Socios was expected by many: one collaboration with Inter to offer the team’s fan tokens. The announcement came not without controversy, with the company posting a video on Twitter using a clip from popular tiktoker Khaby Lame, who according to Italian Tech he would not have been consulted for the use of his image.

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