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By RTTNews Staff Writer | Published: 11/11/2020 9:28 AM ET
Turkey's professional football club Istanbul Basaksehir has inked a deal with blockchain platform Socios.com to be the "Official Fan Token" partner of the club. As part of this, Socios.com will launch the Official Fan Token of Istanbul Basaksehir ($IBFK).
The $IBFK Fan Token will go on sale before the end of 2020 in a Fan Token Offering (FTO) on fan voting and rewards app Socios.com and Chiliz.net, the world's first tokenized sports exchange. The fans can purchase the token directly through their mobile phone via the Socios.com fan engagement app.
Fans of Istanbul Basaksehir can use $IBFK Fan Tokens to influence club decisions by voting in many polls each season on Socios.com. Fans can also earn exclusive digital and real-life rewards linked to the club on Socios.com. The rewards include innovative digital experiences and real-life activations, such as meeting players and watching games as a VIP when fans return to the stadiums.
Istanbul Basaksehir will be the third football club from Turkey to join the blockchain-powered fan engagement platform after Galatasaray and Trabzonspor. Last week, they won their first ever Champions League fixture beating Manchester United 2-1.
As they are working with more Turkish clubs to join the platform, Socios.com is planning to open an Istanbul-based office with an initial staff of 20 as they work towards their stated aim of delivering 100 million Turkish Lira to the country's sports industry.
Some of the other teams on the platform include Spain's La Liga soccer clubs Atlético de Madrid and FC Barcelona as well as European league clubs, France's Paris Saint-Germain, Italy's Juventus and AS Roma as well as UK's West Ham United and Argentina's Club Atlético Independiente.
The Fan Token will help expand the club's global fan engagement strategy and their global audience by bringing fans closer to the club. Meanwhile, Socios is expected to benefit from a wide range of marketing rights including in-stadium, TV and digital exposure.
Socios.com is powered by Malta-based esports voting platform ChiliZ, which allows both esports and sports entities to tokenize their voting rights to their fan bases to crowd-manage sports and esports organizations.
The Istanbul Basaksehir Fan Token ($IBFK) will be tradeable against the Socios.com platform's native token, ChiliZ ($CHZ), with the fans needed to purchase ChiliZ tokens to exchange into Fan Tokens through a process known as a FTO.
In April, Socios.com announced plans to launch blockchain-powered COVID-19 immunity passes for global football fans to enable them to attend live games at stadiums in the aftermath of the COVID-19 pandemic.
The Socios Pass, an ID and immunity verification tool, will allow fans holding "Proof of Immunity" to return to the stadium and watch live games more safely and securely. The pass will include immunity certificates issued by health authorities. It will use blockchain technology and QR codes.
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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.
Article reposted on Markethive by Jeffrey Sloe
