OG Fan Token

Tokens are basically assets that can signify either ownership or membership. They're already being utilized for a variety of uses, which has led to the creation of numerous specialized blockchains designed specifically to support tokens. Among these, Ethereum and its ERC standard tokens are the most prevalent. Socios.com is an application mainly targeted at football (soccer) enthusiasts, allowing users to obtain voting rights to have a say in the decisions of their favorite clubs through acquiring dedicated Fan tokens for each club.

Chiliz ($CHZ) operates as an ERC20 utility token on the Ethereum blockchain, acting as the digital currency for the chiliZ and Socios.com platforms. With the introduction of this platform, together with other sports blockchain initiatives, a new type of token has been introduced—the Fan Token. When clubs join the Socios.com platform, they conduct an event known as a Fan Token Offering (FTO), although the participating clubs might not yet be publicly announced. To get Fan Tokens, fans need to buy $CHZ through a cryptocurrency exchange. These tokens, which are tied to a specific team or club, are limited digital assets that grant access to a secured ledger containing details of voting and membership rights.