Istanbul Basaksehir, winner of the Turkish Football League last season, has joined the Socios platform and will launch his own Fan Token ($ IBFK) by the end of 2020.
$ IBFK, like other Fan Tokens in the Socios ecosystem, gives voting rights and rewards to holders and is designed to increase fan engagement and monetize a variety of fan experiences both online and offline.
Token holders can vote in ballots on club decisions and earn points, which after accumulating can be redeemed in exchange for tickets to VIP games or the opportunity to meet the club’s players.
Istanbul Basaksehir is the third Turkish club to subscribe to the blockchain-based platform and join other well-known international clubs, including FC Barcelona, Atletico Madrid, Paris Saint-Germain, Juventus and others.
Just yesterday, the Cointelegraph reported on the news that the German club Bayern Munich has joined the blockchain-based fantasy football platform Sorare, which many Socios-registered clubs have also joined.
Sorare uses non-spongy tokens as the basis for its digital player cards, unlike the spongy tokens used in Socio’s ecosystem. Socios Fan Club Tokens, issued in limited quantities, can be exchanged for Socios’ own blockchain token, Chiliz ($ CHZ), on the platform’s trading floor.
The sports and crypto communities seem to be excited about fan tokens. In June 2020, Chiliz and Socio sold $ Barcelona value to $ 1.3 million in less than two hours.
Socios also recently issued a Visa debit card – a development of its earlier version as a prepaid crypto-fiat card – that can be used to purchase goods and services in the European Economic Area.