NBA team LA Clippers have signed a partnership with blockchain platform Socios.com. The basketball team will use the Socios app for fan engagement and rewards, but there are no plans for fan tokens at this stage. Socios will gain exposure through the Clipper’s social media platforms and hospitality experiences as part of the deal.
In the sports industry, blockchain-based solutions focused on enhancing fan engagement are becoming widespread. Of the available offerings, non-fungible tokens (NFT) and fan tokens stand out.
While NFTs are a kind of digital collectible, fan tokens are closer to mainstream cryptocurrencies, although they provide fan engagement such as voting on club decisions. Given the uncertain legal position of cryptocurrencies in the United States, this may be why no NBA teams plan to launch fan tokens as yet. Nonetheless, Socios has inked deals with several NBA teams, including the Houston Rockets, Sacramento Kings, Cleveland Cavaliers, and Philadelphia 76ers.
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