Yesterday blockchain fan token platform Socios announced a deal as an Official Partner of Major League Soccer (MLS) as well as deals with 26 of its 28 clubs. Socios is known for its club fan tokens in Europe, but it has not issued tokens as part of its United States deals because of regulatory uncertainty. Socios has already partnered with numerous other U.S. sports clubs, including 24 NBA and 14 NFL teams.
Unlike non-fungible tokens (NFTs), which are individually unique and considered collectibles, a club’s fan tokens are identical to each other and classed as a type of cryptocurrency. Hence the question of whether U.S. regulators might consider them securities. Like other cryptocurrencies, the prices can fluctuate significantly.
For now, the MLS partnership will enable MLS fans to participate in polls and get rewards. These types of features are usually available to fan token holders, with polls typically on topics such as the color of a sports jersey or the selection of a club anthem.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
