Naturally engaged in cheering for the teams they love, football fans are jumping on the bandwagon of fan tokens, which become new forms of monetization for clubs. Bahia has just announced a partnership with Socios.com and joins other national clubs that already offer official fan tokens to their fans.
Socios.com, the sports world’s engagement and rewards platform, is powered by Chiliz, a global blockchain provider for the sports and entertainment industry. The team from Bahia is the eighth Brazilian to launch a fan token through the platform.
There are still no details on what the ＄BAHIA fan token will make possible for fans. In general, exclusive experiences are offered, whether with the opportunity to get involved in internal decisions such as product design, music, inspirational messages, among other polls and disputes.
“We are very happy to have Socios.com as a partner, proving the club’s international strength. There’s a phrase that our fans like to play on social media, which is ‘Bahia is the world’. Pioneering and innovation are hallmarks of the club”, said Guilherme Bellintani, president of Bahia.
According to data from Socios.com, more than 1.5 million people in 167 countries already interact with the platform, which is responsible for tokens for teams such as Barcelona, Paris Saint-Germain, Juventus, Milan, Manchester City, Atlético de Madrid, among others.
Socios.com CEO Alexandre Dreyfus celebrated the eighth partnership signed with Brazilian clubs. “There is an extraordinary passion for football in Brazil and clubs have understood that their fans deserve every opportunity to be recognized as such. We are already working on creating incredible benefits for Bahia fans.”
Socios.com relies on Chiliz (CHZ), the digital currency for sports and entertainment that powers the platform. CHZ is available on the Bitcoin Market platform.
Socios.com was also responsible for the $VERDAO fan token, launched by Palmeiras in December last year. In addition, the platform has already made agreements with São Paulo, Corinthians, Atlético Mineiro, Flamengo and Inter.
Santos, on the other hand, opted for Binance to close the sponsorship agreement and launch of the SANTOS Fan Token. The team was the first Brazilian to have the fan token launched through a decentralized Exchange (DEX), Pancake Swap, main DEX of Binance Smart Chain (BSC).
In the case of Vasco, a partnership with Mercado Bitcoin at the end of 2020 was responsible for the world’s first tokenization of football players’ solidarity mechanism rights. This solidarity mechanism is a FIFA rule and provides that for each transfer of a player, 5% of the amount negotiated goes to the club that contributed to the formation of the athlete. The value is proportional to the time the player was on the team.
*The translation of this article is provided by EmergingCrypto.io, a partner of Blocknews.