Atletico Madrid launch cryptocurrency fan token via Socios.com

September 9 – Spain’s Atlético Madrid has signed up to the Socios.com blockchain-based fan engagement and rewards platform. Socios.com becomes the club’s Official Fan Token partner.

Powered by the Chiliz blockchain technology, Atlético join Juventus, Paris Saint-Germain, AS Roma and West Ham United who have similar Fan Token schemes.

Fan Tokens are digital assets that allow fans to engage in certain polls on club decisions and rewards them for their participation. The more fans interact with the club through the app, the more rewards they earn, opening up more experiences, and access to exclusive merchandise, games and leaderboards.

Clemente Villaverde, Board Member of Atlético de Madrid said: “For Atlético de Madrid, it is a pleasure to join this technological platform that other great European clubs already use and that will allow us to engage and interact with our fans from all over the world in a very innovative way. We are a Club that is constantly committed to technological innovation and in this sense.”

Atlético de Madrid Fan Tokens will be tradeable against Socios.com’s native token, $CHZ. Fans must first buy $CHZ through a cryptocurrency exchange or directly on the app itself, to subsequently buy Fan Tokens through the Fan Token Offering.

The Atlético de Madrid Fan Token will be priced at €2 and will be available in Autumn 2019 for the 19/20 season. Fan Tokens can also be hunted for free through the app’s geo-location feature Token Hunt.

Alexandre Dreyfus, CEO & Founder of Socios.com said: “Not only is Atlético de Madrid a giant of the footballing world, but they are very creative and forward-thinking with regard to technology and fan engagement, and that is what ultimately led us to want to partner with them. They already have a hugely passionate fanbase in Spain but joining Socios.com will enable the club to further reach, engage and reward a more global audience through innovative blockchain technology. By adding a club of such magnitude, we will grow our own potential user base to well over a billion sports fans, all of whom will be eventual cryptocurrency users.”