Galatasaray Partners with Socios.com to Launch Fan-Specific Crypto

Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term startup Socios.com on Monday announced its partnership with Galatasaray Spor Kulübü, a major Turkish football club, to launch a fan token.

The Ethereum-based token will allow the fans of the football club to vote in club-delegated polls for decisions, including new official product designs, matchday activities, and in-stadium experiences.

This, according to the company, will bring the fans closer to the football club and let them interact with the club via its official application.

Commenting on the development, Dorukhan Acar, a board member of the football club, said: “As Galatasaray, we are very pleased to join forces with Socios.com and start an exciting journey. This new partnership opens a world of new opportunities for us with respect to our fan engagement and global reach as well as being another milestone in our digital transformation strategy.”

The announcement also detailed that the token is scheduled to launch in the first quarter of next year. The company will allow fans to purchase the tokens with its native digital currency Chiliz. It also plans to offer exclusive merchandise and games to the fans.

“Our product combines the two greatest passions of the Turkish people and we’re delighted to partner with Galatasaray, a giant of the Turkish football scene, to offer Fan Tokens to their millions of fans. This partnership marks another great step forward in opening up Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and Chiliz to millions of fans around the world,” Alexandre Dreyfus, founder and CEO of Socios.com, added.

Upcoming fan tokens of major clubs

In addition, to the Turkish football club, the company also partnered with other European football giants, including Paris Saint-Germain, Juventus, West Ham United, AS Roma, and Atlético Madrid to launch their fan-specific tokens.

Fan tokens are slowly gaining traction as they have a lucrative sports fan base. Welterweight boxing champion Manny Pacquiao recently launched a token for his fans on Global Crypto Offering Exchange (GCOX).