The Professional Fighters League (PFL) launched fan tokens on the Socios.com platform. As opposed to an individual team, this is the first sports league to launch fan tokens on the app.
Socios.com is a fan engagement platform. Supporters purchase fan tokens which can be used in the app to access VIP rewards, exclusive promotions, chat forums, games and competitions. In addition, token owners can participate in the league’s decisions by voting on polls exclusive to Socios.com app.
The value of the tokens is volatile, and in contrast to a nonfungible token (NFT), its value is not tied to an object or a digital collectible. As such, some might perceive fan tokens as investments, especially if the fan benefits seem small compared to the token value. Chiliz, the company behind Socios.com runs an exchange for these fan tokens.
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