İstanbul Başakşehir Joins Socios To Launch Its Own Fan Token By The End Of 2020
İstanbul Başakşehir Joins Socios To Launch Its Own Fan Token By The End Of 2020
November 12, 2020
İstanbul Başakşehir Joins Socios To Launch Its Own Fan Token By The End Of 2020
İstanbul Başakşehir Joins Socios To Launch Its Own Fan Token By The End Of 2020
November 12, 2020

İstanbul Başakşehir, the Turkish professional football club, has joined the Socios platform and will launch its own fan token ($IBFK) by the end of 2020.

It has been reported that like other fan tokens in the Socios ecosystem, $IBFK confers voting rights and rewards upon holders, and is designed to boost fan engagement and monetize various fan experiences, both online and offline.

However, token holders can vote in polls on club decisions and earn points that, once accumulated, can be cashed in exchange for VIP game tickets or opportunities to meet club players. 

As per the report, İstanbul Başakşehir is the third Turkish club to sign on to the blockchain-based platform and joins other international, high-profile clubs that include FC BarcelonaAtlético de Madrid, Paris Saint-Germain, Juventus, and others.

Two days ago, the German club Bayern Munich had joined the blockchain-based fantasy soccer platform Sorare, which many of the clubs signed onto Socios have also joined.

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Sorare uses non-fungible tokens as the basis of its digital player cards, distinct from the fungible tokens used in the Socios ecosystem.

Thus, club-branded Socios fan tokens, which are issued infinite supply, can be exchanged for Socios’ native blockchain token, Chiliz ($CHZ), on the platform’s marketplace.

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.