Today Chiliz announced a partnership with the Italian Football Federation (FIGC) to launch a blockchain fan token for the nation’s team on Socios.com as well as a rewards app. The Italian team is the current UEFA Euro 2020 champion.
A fan token is similar to a cryptocurrency as opposed to non-fungible tokens (NFT) because the fan tokens are not unique.
Socios has already launched fan tokens for many major soccer clubs such as Paris Saint-Germain (PSG), Manchester City and FC Barcelona. Famously, part of Lionel Messi’s contract with PSG was paid using fan tokens.
According to Chiliz, Socios.com has generated more than $150 million in revenue this year from token sales.
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