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Socios.com adds Atlético Madrid to fan token portfolio

LaLiga club Atlético Madrid has signed a partnership deal with Socios.com, the blockchain-based fan engagement and rewards platform.

As the club’s ‘Official Fan Token partner’, Socios.com will give fans the opportunity to buy Atlético de Madrid Fan Tokens – digital assets that allow fans to engage in polls and rewards them for their participation.

The Fan Tokens will be priced at €2 each and will be available exclusively through Socios.com in autumn 2019 for the 2019-20 season.

Atlético de Madrid Fan Tokens will also be tradeable against Socios.com’s native token, $CHZ, a digital currency for blockchain-backed platforms and products and mainstream users.

Alexandre Dreyfus, chief executive and founder of Socios.com said: “By adding a club of such magnitude, we will grow our own potential user base to well over a billion sports fans, all of whom will be eventual cryptocurrency users.”

Atlético de Madrid joins Juventus, Paris Saint-Germain, AS Roma and West Ham United in offering Fan Tokens to their supporters.

When contacted by SportBusiness Sponsorship this morning, Socios.com declined to comment on the nature of the commercial partnerships, the benefits received, such as branding, and the duration of the partnerships.

Earlier this year, Chiliz, the team behind Socios.com raised more than $66m in funding, including investment from some of the world’s largest cryptocurrency exchanges (Binance) and leading Asian cryptocurrency funds.

Chiliz is owned by Malta-based Mediarex Group, a global sports and entertainment organisation, founded in 2012.