Today fan token firm Socios announced it extended its deal with the Argentine Football Association (AFA) to 2026. The AFA confirmed the deal. This is a two-year extension of what was originally a three-year arrangement.
The fan tokens let users participate in voting, competitions, VIP experiences, merchandise and exclusive offers. In some jurisdictions, fan tokens are seen as controversial because they might be considered a security.
After Socios launched the token for the national football team last year, this January, cryptocurrency exchange Binance was announced as an AFA sponsor, including for fan tokens, sponsorship and naming rights. Socios said all of these rights represented a breach of its contract.
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