Today Socios.com announced it has signed Atlético de Madrid for its blockchain-based fan engagement platform. Socios.com and Atlético Madrid will be working on developing ‘Fan Tokens’ for the club which will be introduced for the 2019/20 football season. The Atlético de Madrid Fan Token will be priced at €2 ($2.21) but can also be earned.
Atlético Madrid now joins Juventus, Paris Saint-Germain, AS Roma and West Ham United to offer cryptocurrency tokens to incentivize fan engagement on the Socios platform. Atlético Madrid is the first La Liga club to join Socios.com.
Supporters can use these tokens to vote for certain polls, earn rewards, and get access to exclusive merchandise through a mobile app.
The more fans interact with the club through the app, the more rewards they can earn.
“It is a pleasure to join this technological platform that other great European clubs already use and that will allow us to engage and interact with our fans from all over the world in a very innovative way,” said Clemente Villaverde, Board Member of Atlético de Madrid.
The club’s supporters will first need to purchase Socios.com cryptocurrency $CHZ which will be tradable against the Fan Tokens. Atlético Madrid will be hosting a Fan Token Offering on a crypto exchange first to introduce the token on Socios.com’s blockchain network. Fan Tokens can also be bought in the app or acquired for free using the app’s augmented reality geo-tagging feature dubbed as Token Hunt.
“They (Atlético Madrid) already have a hugely passionate fanbase in Spain but joining Socios.com will enable the club to further reach, engage and reward a more global audience through innovative blockchain technology,” said Alexandre Dreyfus, CEO and Founder of Socios.com.
Socios.com is part of Chiliz claims to have raised$66 million in financing through a private placement including Binance, OK Blockchain Capital and FBG Capital. Chiliz is part of Malta-based HX Entertainment, a subsidiary of Mediarex Group, previously active in online poker.
The Chiliz platform is used for the Socios.com tokens, operating on a side chain of Ethereum. Each club participating on Socios.com is a proof of authority node on the blockchain.