Fan Token Offering (FTO)

 A Security Token represents an asset or an entitlement to an earning stream or dividends. ... Once onboard the Socios.com platform, our (yet-to-be-announced) club partners host what we have termed a Fan Token Offering (FTO). Fans must purchase $CHZ via a cryptocurrency exchange in order to acquire Fan Tokens.

Besides winning matches, raising money, and appreciating fans, football clubs indulge in two important activities. From supporting fantasy leagues to online betting, football clubs undertake several activities to boost user engagement and raise money.

Several football clubs are turning to “fan tokens” for boosting fan engagement and raising funds. The initial interest in tokens started in 2018, with many popular soccer clubs worldwide considering this innovation. Over the years, many of them had already integrated digital coins into their practice. Let’s examine. 

What is a Fan Token?

A virtual fan token is a cryptocurrency-based token that can give you exclusive rights to vote for various polls conducted by a club. Additionally, when you buy these fan tokens, you get an opportunity to win exciting rewards, including meeting your favorite players or watching matches as a VIP guest. 

Cryptocurrencies are created using Blockchain technology, wherein it contains blocks of transparent and secure information or transaction. It’s a virtual currency stored on a complex computer network spread across the globe. A revolutionary feature of these cryptocurrencies is that no single entity or central authority can control or own the data, which prevents the data from being altered. The information blocks are chained with one another by using cryptography, creating a secure and public digital ledger. 

Cryptocurrencies are often referred to as tokens or coins, and they’re used to replace real-world currencies for facilitating online financial transactions, sales, and purchases. They’re intended to function like real-world currencies such as dollars or pounds. Bitcoin is a popular cryptocurrency and is also the first among the lot as it was launched much earlier than other popular ones like Ethereum. Litecoin, EOS, Binance Coin, etc.