Spanish La Liga Membership Atlético Madrid launches a fan token

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The Spanish soccer group Atlético de Madrid – which is a part of the skilled prime division of the Spanish soccer competitors, referred to as La Liga – works along with blockchain platform Socios.com for launching a fan token ecosystem.

The information was revealed in a press launch shared with Cointelegraph on September 6.

Atlético & # 39; s fan token

As earlier than reported, Socios has described itself as a blockchain-powered, tokenized utility of the "Socios" crowd-management idea of Actual Madrid and FC Barcelona ("socios" means a member or worker in Spanish).

The Socios-tokenized voting platform and the blockchain-based cell app is managed by sport blockchain-company chiliZ, which is supported by main gamers within the crypto business with crypto-exchange Binance and OK Blockchain Capital.

Atlético de Madrid is prepared 4th in UEFA's Membership Coefficients rating for the present season – beating Juventus (fifth), Arsenal (ninth), Chelsea (12th) and Ajax (20th).

In accordance with right now's press launch, Socios and Atlético de Madrid will launch an official Fan Token with the membership model for the 19/20 season within the fall of 2019 through a so-called Fan Token Provide (FTO & # 39; s).

The token – priced at 2 euros – will likely be a digital asset that grants voting rights to Atlético followers, and will likely be used to encourage followers' involvement by permitting customers to take part in tokenized polls on the Socios cell app . Tokens additionally give holders entry to merchandise, rewards and video games.

Have an eye fixed for "greater than a billion" crypto customers

Whereas the fan tokens are used on the Socios platform, they technically function on a separate, accepted facet chain, the place every taking part chilliZ soccer membership acts as a junction with proof of authority.

The facet chain is powered by chiliZ & # 39; s native cryptocurrency $ chz, an ERC20 utility token that’s appropriate with Ether.

Atlético de Madrid joins numerous different main worldwide soccer groups which have already labored with the platform – together with in London West Ham United, French soccer membership Paris Saint Germain and that of Italy Juventus.

The CEO and founding father of Socios, Alexandre Dreyfus, stated that by taking up such controversial groups, he desires to develop the platform's potential consumer base to "greater than a billion sports activities followers, who will in the end be cryptocurrency customers."

Cointelegraph printed one in July Overview from rising tokenziation of the sports activities business. Other than Socios – who has a civil servant partnership with Binance and has lately listed its token on the inventory change – different platforms like Utrust are facilitating cryptocurrency funds for tickets and merchandise for groups similar to Benfica in Portugal.
In August, English Premier League soccer membership Manchester Metropolis announced a collaboration with the startup Superbloke of the South Korean blockchain soccer sport.

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