Socios.com is a company that creates “fan tokens” that are authorized by the law. It is quickly expanding in the United States right now. On May 5, the firm signed deals with the MLS (Major League Soccer). Socios will work with team owners to develop marketing and fan engagement strategies.
Ambitious New Deals with American Teams
MLS and 25 new clubs have signed a multi-year fan engagement agreement, according to Socios.com. The LA Galaxy, Seattle Sounders FC, and Atlanta United are among the prominent teams on the list.
The firm announced a 12-year, $20 billion partnership with 13 National Football League (NFL) teams last month. In November 2021, it had signed a deal with the New England Revolution. It will compete in the NFL alongside the New England Patriots.
According to Socios.com, the relationship makes Socios an “official partner” of MLS, giving users access to the league’s intellectual property and “enhancing integration across platforms.”
However, two teams – DC United and Charlotte FC – did not join the league because of prior sponsorship issues between them.
Socios.com: The Creator of the Chiliz Token
Chiliz (CHZ) is the native cryptocurrency of Socios.com. It is used to power the Socios platform and fuel transactions on the app. Chiliz is a ERC-20 token on the Ethereum blockchain. In January 2021, Chiliz hit an all-time high of $0.78. The token has a market capitalization of $4 billion and is currently trading at $0.47.
The firm has partnered with some of the biggest names in sports, including FC Barcelona, Atletico Madrid, Paris Saint-Germain, Juventus, A.S Roma, Galatasaray and West Ham United. It recently announced a partnership with Formula 1 team Mercedes-AMG Petronas Motorsport, as well as Fortnite esports teams Tempo Storm and TSM.
Looking ahead, Socios.com is expected to continue expanding its partnerships in the sports world and beyond.
Possible Chiliz Collaboration in the Future
The MLS agreements do not currently include a fan token component, similar to the company’s 14 active NFL franchises and 28 active NBA teams.
A fan token is a blockchain-powered crypto token that gives its holders unique rights. The benefits include access to a private community of token owners, as well as voting on team decisions and participation in contests.
Instead, the links are focused on various digital fan interaction options like chat rooms, surveys, and sweepstakes, as well as marketing integration such as online integrations and digital signage for Socios during MLS games.
Last month, Socios.com Chief Strategy Officer Max Rabinovitch said in news reports that the firm was taking a “very cautious” approach to sports team partnerships in the United States. He explains that sports organizations are wary of creating cryptocurrency tokens at present.