NBA team Los Angeles Lakers become the twenty-fourth team in the American basketball franchise to join Socios.com’s network. Like most of the other deals in the NBA, this partnership will be centered around Socios sponsoring the Lakers.
Socios’ main offering is fan tokens, which are cryptocurrencies as opposed to collective non-fungible tokens (NFTs). The company has deals with several leading global sports entities including soccer clubs PSG, Barcelona, and Arsenal to commercialize the teams’ tokens. These digital assets are purchased with cryptocurrency and can be traded. Token holders can also exchange them for rewards such as experiences with the team, the ability to vote in polls, and exclusive merchandise.
However, recently the company has been sponsoring several teams, leagues, and sports events, without launching an official fan token in partnership with them.
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