Check out our full list of pros and cons or read on.
| Product Name | Socios |
|---|---|
| Payment methods |
Credit card Debit card Cryptocurrency |
| Services |
Buy Sell |
| Buyer fee | 4.5% on all transactions |
| Seller fee | |
| Blockchain |
Ethereum Binance Smart Chain Chiliz |
| Supported payment currencies |
Cryptocurrency |
Socios.com is a sports app looking to bring football (soccer) fans closer to their clubs. The app stands out as the world’s first fan voting and reward platform powered by blockchain technology. It is powered by the Chiliz (CHZ) token, which is the leading cryptocurrency in tokenisation and sports entertainment.
Socios.com is a sports app targeted at football (soccer) fans. The app is designed to allow fans to participate in the day-to-day activities of their favourite football clubs and earn rewards for their participation.
Fan Tokens can be issued within the platform. These give token holders power to influence the decisions of their favourite teams, which is a first in the sporting world. Fan Tokens also enable holders to unlock rewards and gain access to exclusive promotions, games and perks.
Socios.com tokens are known as Fan Tokens. Developed as utility tokens, they give owners access to services provided by the various sports clubs. The tokens offer their holders several benefits, including:
Other benefits include winning match tickets, uniforms or club memorabilia, and interacting with other fans around the world. While offering many benefits, the key purpose of the token is to enhance interaction between teams and their supporters.
Socios.com Fan Tokens operate on a separate authorised side chain of the Ethereum blockchain. As of writing, 28 Fan Tokens are issued by Socios.com for different clubs including Juventus, A.S. Roma, Barcelona, Atlético Madrid, PSG and Apollon FC. According to the Socios.com website, more Fan Tokens are soon to be released.
Fan Tokens are specific to a team or club. The tokens are limited in number and are fungible, which means, like cryptocurrencies, they can be traded. A user can trade Fan Tokens on the Socios.com app trading feature. The tokens can also be traded on Binance.
If you are looking to purchase Socios.com Fan Tokens, either as an investment or to participate in club decisions, there are several ways to gain access:
The Socios.com app has a trading feature that allows you to buy Fan Tokens directly. Before buying directly through the trading feature, a user must first purchase Chiliz (CHZ) tokens. CHZ tokens can then be used to buy Fan Tokens.
CHZ tokens can also be bought directly from the Socios.com app. The cryptocurrency can also be purchased from crypto exchanges like Coinbase, Binance and Crypto.com.
How to buy Fan Tokens through the Socios.com app:
Alongside purchasing CHZ and Fan Tokens, Socios.com offers its users a way to receive tokens for free. That’s right – thanks to the Token Hunt feature, Socios.com provides a way for users to get Fan Tokens and Chiliz tokens without spending a dime.
Token Hunt is a Socios.com augmented reality geo-location feature that allows users to collect $CHZ, $SSU (Socios.com Loyalty Tokens) and Fan Tokens for free. According to the Socios.com site, Token Hunt is a global experience – meaning regardless of where you are on the globe, you can participate.
To participate in the Token Hunt, you’ll first have to create a Socios.com user account. Free tokens you collect from the Token Hunt will automatically be added to your Socios.com wallet.
It is no secret that the crypto market is one of the most highly volatile markets in existence. This is one of the key reasons many people are still cautious. However, volatility can provide opportunities for those willing to use it. Fan Token Offerings take advantage of future market volatility.
Fan Token Offerings, or FTOs, is a limited period when a number of Fan Tokens are made available for purchase at a fixed entry price. The tokens are released within the FTO before reaching the Socios.com marketplace.
Buying tokens at a Fan Token Offering allows fans to purchase them at their exact entry price. This mitigates price volatility when the tokens go live on the marketplace. If tokens appreciate in value after the FTO, fans may have benefited from purchasing Fan Tokens at a much cheaper entry price.
Socios.com provides a Fan Token marketplace where you can easily buy and sell Fan Tokens. To buy and sell Socios.com Fan Tokens, you’ll need a few things:
Once you have created a Socios.com account, you can access its “Trading” Feature where users can buy and sell Fan Tokens.
Since launching, Socios.com has amassed a significant user base and has partnered with world-class sporting teams. Socios.com is now the official crypto wallet and trading exchange for Fan Tokens of some of the biggest teams in the world including Barcelona, Juventus, Paris Saint-Germain, Atlético Madrid and A.S. Roma. The teams involved with the app provide credibility as each team will likely have completed due diligence before joining with the company.
While certainly a credible application, the app and associated tokens are still associated with a highly volatile cryptocurrency industry. When purchasing CHZ or Fan Tokens, the volatility of prices should always be considered.
The application requires connection to the Internet and, therefore, use of the app comes with the inherent risk of hack or exploit. This is the same for all apps on a mobile, however, not all apps will be holding the private keys to CHZ or Fan Tokens.
Socios.com is a great way for teams and sports clubs to promote fan participation. The app is arguably one of the best sports apps powered by blockchain technology currently in the market. It provides a great platform for super fans to actively participate in the sporting teams that they love.
