The Concept of Fan Engagement
Socios takes its name from the Spanish term for members of supporter clubs in soccer teams. This concept has been a part of football culture for over a century, especially within La Liga. Real Madrid, the most valuable football team globally, has over 90,000 ‘Socios’ as owners, embodying this fan-centric model. The modern era of Spanish football began taking shape in the early 20th century, and several clubs opted for this ownership system, which remains a significant way to involve fans and foster a loyal following.
Real Madrid’s Socios System: A Historical Overview
Let’s dive into a bit of history! Real Madrid’s ownership structure started with elections for the Board of Directors before the club’s official founding in 1902. It was a fan-driven model that gave club business and ownership control to its members. This model continued until 1992, when the Spanish government passed Ley 10/1990 del Deporte, which required professional clubs to re-register as private PLCs starting in the 1992/93 season.
However, a legal loophole allowed the system to persist. Clubs could still operate as fan-owned if they demonstrated profitability in the five years leading up to the 1985/86 season. As a result, Real Madrid, FC Barcelona, Athletic Club Bilbao, and Club Atlético Osasuna were exempt from this law.
Real Madrid’s model involves members paying €123 annually with memberships lasting over 50 years, and two active members must vouch for anyone wishing to join. Membership comes with voting rights and easier access to tickets, with penalties for not following club rules.
Chiliz Token’s Role in Sports and Entertainment
Chiliz (CHZ) has become the leading digital currency for sports and entertainment, operating on the blockchain-powered Socios platform. The platform offers fan tokens as digital access passes to various sports teams, allowing them to monetize their fan engagement through tokenized voting rights. This addresses the challenge of ‘real-life’ socios systems, where the larger clubs had more financial influence.
Fan-tokens connect sports teams with their supporters, opening new revenue streams. These fungible digital assets grant voting rights via smart contracts, with teams deciding the extent of fan influence. The tokens also provide exclusive fan-oriented benefits, specific to each team.
The $CHZ token is an ERC-20 utility token on the Ethereum network, with BEP2 tokens on the Binance Smart Chain. They exist on the Chiliz blockchain, offering a limited supply of fan tokens available during the initial Fan Token Offering (FTO), which are distributed on a first-come, first-served basis.
Deze fan tokens do not expire and can be traded on the Socios marketplace or any exchange supporting Chiliz blockchain fan tokens. Users can also earn tokens through the Token Hunt feature, powered by Augmented Reality.
New Fan Tokens for Rugby and Football Clubs
Socios is launching new fan tokens for three prominent sports teams. The official fan tokens for Rugby Union teams Leicester Tigers and Harlequins, as well as Italian football club Udinese, were launched starting Monday, October 24.
On October 24, the official fan token for Leicester Tigers, $TIGERS, was released, with a total supply of 20,000 tokens priced at £2 each. The next day, Harlequins’ official fan token, $QUINS, was launched, also with a supply of 20,000 tokens available for £2 each. The final token for Udinese, the $UDI token, was launched the following day with a supply of 25,000 tokens at £2 each.
Socios and Chiliz continue to make strides in expanding into new sports, including rugby, with a goal to create a global ecosystem connecting fans with their favorite teams across various sports.
