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Saturday, May 28, 2022

Fan Token Platform Socios Ties Up With MSL

Socios has expanded into the US with MSL and 26 teams, although fan engagement is the only focus. But there are no tokens for now. The deal is similar to the ones with NBA and NFL teams.

The Startup makes officially-approved fan tokens in tie-ups with major sports leagues and teams. It has aggressively moved ahead with its expansion in the US. The firm made agreements with 13 NFL teams last month and has now arranged for fan engagement and marketing deals with MSL and almost all teams in that league.

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The long-term fan engagement contract with Major League Soccer and 25 league teams include the main clubs like Atlanta United, LA Galaxy, and Seattle Sounders. Socios has also finalized a deal in November last year with New England Revolution along with the Patriots of the NFL.

Socios representatives said that the agreement turns Socios into MSL’s official partner. It enables them to access the Major League Soccer IP, helping in better integration across multiple platforms.

NFL Deal Marks A New Approach By Socios

This deal with the NFL is a new approach for Socios as it has not made an official deal with it for marketing the league. While Socios inked a contract with most teams in the league, 2 of them, Charlotte FC and DC United,  opted out of an agreement.

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A  representative for one of the two teams said that this was due to the sponsorship conflicts.

Socios’s partnership with the MLS is similar to the deal with the 14 NFL and 28 teams from the NBA as they all do not include any fan token component at present.

Fan tokens are crypto tokens backed by a blockchain that offers unique holder benefits. This includes access to an exclusive holder community and other extras like voting during decisions by the team and entry into contests.

The deals are instead focused on multiple digital opportunities for fan engagements including polls, chat rooms, and contests.

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