It has been reported that like other fan tokens in the Socios ecosystem, $IBFK confers voting rights and rewards upon holders, and is designed to boost fan engagement and monetize various fan experiences, both online and offline.
However, token holders can vote in polls on club decisions and earn points that, once accumulated, can be cashed in exchange for VIP game tickets or opportunities to meet club players.
🦉🤝 @socios https://t.co/BVwM3gBARQ — İstanbul Başakşehir (@ibfk2014) November 11, 2020
As per the report, İstanbul Başakşehir is the third Turkish club to sign on to the blockchain-based platform and joins other international, high-profile clubs that include FC Barcelona, Atlético de Madrid, Paris Saint-Germain, Juventus, and others.
Two days ago, the German club Bayern Munich had joined the blockchain-based fantasy soccer platform Sorare, which many of the clubs signed onto Socios have also joined.
Sorare uses non-fungible tokens as the basis of its digital player cards, distinct from the fungible tokens used in the Socios ecosystem.
Thus, club-branded Socios fan tokens, which are issued infinite supply, can be exchanged for Socios’ native blockchain token, Chiliz ($CHZ), on the platform’s marketplace.