It has been reported that the partnership will integrate branding from the fan token site across the physical and digital space. Socios will appear on screens in the team’s home venue, the Wells Fargo Center in Philadelphia, as well as on its website and social media.
Alexandre Dreyfus, the CEO of Socios and Chiliz, said that this was the first time the platform had partnered with a National Basketball Association franchise. He hinted basketball fans might see fan tokens for the Sixers as part of the firm’s goal of “transitioning passive fans into active fans.”
However, in addition to the NBA team, the NHL's New Jersey Devils announced a similar marketing partnership with Socios in April. The platform has said it will launch fan tokens for the Ultimate Fighting Championship and Formula 1 racing teams Aston Martin Cognizant and Alfa Romeo Racing on the Chiliz blockchain.
The report said that Dapper Labs’ NBA Top Shot has the backing of prominent basketball players including Michael Jordan, Alex Caruso, and Kevin Durant while Chiliz through Socios has formed partnerships with major names in sports to release fan tokens.
Thus, as of March, the digital collectible platform had reportedly grossed $483 million in sales with more than 802,000 users.