Turkish Football Club to Launch a Fan Token by the End of 2020

İstanbul Başakşehir partners with Chiliz to launch a fan token on blockchain-based fan voting app socios.

İstanbul Başakşehir, a leading Turkish professional football club and last season’s winner of Turkish Süper Lig has announced today that the club, in partnership with sports and entertainment-based digital currency, Chiliz will launch its fan token before the end of 2020.

Dubbed $IBFK, the fan token will be available for sale on blockchain-based fan voting and rewards app socios.com this year. The token aims to provide many engagement opportunities to the fans including voting in polls through socios.com and club related discounts.

According to the official announcement, token holders can earn points and use those points to win VIP game tickets and even an opportunity to meet star players. İstanbul Başakşehir made it to the last 16 of the UEFA Europa League last season and also won against Manchester United in a recent Champions League fixture.

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Commenting on the partnership, Mustafa Eröğüt, CEO of İstanbul Başakşehir, said: “I believe we have a lot in common with Socios.com; a young, successful, energetic and technology-driven initiative. As a 6-year old Club, we’re always in search of new partnerships that can help both sides grow. Together with Socios.com, we look forward to offering innovative and fun ways for our new, fast-growing global fan base to get to know and engage with us better.”

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İstanbul Başakşehir will become the third Turkish professional football club to launch its fan token after Galatasaray and Trabzonspor. Finance Magnates earlier reported about the partnership of FC Barcelona and Chiliz, in which the football club raised $1.3 million in token sales in the first two hours. Chiliz also partnered with Juventus to launch a fan token earlier this year.

“İstanbul Başakşehir is our third Turkish based club and our 18th partner overall. As our roster of clubs grows, so does the overall network effect of these partnerships. That means the sharing of technological innovations and, ultimately, a stronger all-round product with better features for fans leading to increased revenues for all of our partner clubs,” Alexandre Dreyfus, Founder and CEO of Chiliz and Socios.com, said in a statement.

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