Socios Launches Official Fan Token “Socios United Fan Token ($SSU)”

Socios.com, a blockchain platform tokenizing fan engagement sports clubs around the world, has announced the launch of its official fan token called Socios United Fan Token ($SSU).

According to a press release shared with Coinfomania on Friday, the new token will be sent to the wallets of every Socios.com user, both existing and new, starting from today, which they will use to participate in various team-related games and quizzes.

Fans can also use the Socios United Fan Tokens to vote in the various Socios United polls that seek to create a “dream team” from players in the roaster of partner clubs, thereby exercising their ability to choose any player they wish to see in a particular position.

Fighting Covid-19 with #homewithsocios

Users will also be able to acquire more tokens by engaging in the app’s Token Hunt, which is a part of the #homewithsocios initiative aimed at encouraging fans around the world to stay at home and help in the fight against the spread of COVID-19.

The Token Hunt, which started over two weeks ago, is designed in a way that allows users to collect tokens available within their immediate territory. There are currently more than 1 million fans who have participated in this initiative.

The Socios $SSU token will go a long way to encourage active participation among fans and also help in shaping the future of the Socios.com platform, per the release. 

According to the CEO and founder of Chiliz and Socios.com, Alexandre Dreyfus, the launch of the Socios United Fan Token might lead to future remarkable fan-led initiatives.

“This is just the opening utility of Socios United. We’ve got exciting plans for $SSU, which we believe can be the driving force behind some unprecedented fan-led initiatives in the future,” he said.

The more $SSU tokens a fan has, the higher the “fan power” and this, in turn, yields higher rewards and boosts voting power in the various Socios.com polls. It is important to note, though, that the tokens can neither be bought nor sold and cannot be used for trading purposes either.

Meanwhile, Socios recently launched a blockchain-based ID verification system alongside a debit card for its native currency $CHZ. The identification protocol gives users and fans a unique ID which offers them many advantages including reward loyalty and other benefits based on the amount of CHZ owned by a user.

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