Primera Division, Argentina’s top pro-soccer league, has rebranded to Torneo Socios.com for the 2021/2022 season after the partnership with the Argentina Football Association (AFA).
It has been reported that it secured a new sponsorship deal with Chiliz, the creators of fan tokens and the Socios.com blockchain rewards app.
Founded in 1891, Torneo Socios.com was the first professional league formed outside of the United Kingdom. The partnership is a significant move from both parties, as a crypto company has been chosen as the first commercial name used to rebrand the league.
Claudio Tapia, the President of the AFA, said:
“We are very happy to kick off this journey with Socios.com. It is a very important agreement, since it’s the first time the Argentinian league partners with a commercial brand to rename the tournament.”
However, the firm also highlighted that the announcement follows from a partnership with the AFA to officially launch licensed Argentinian National Football team tokens on June 11. The Socios app is a direct-to-consumer platform that leverages the Chiliz blockchain to tokenize sports franchises by offering officially licensed fan tokens. Fan token holders then earn various rewards and voting rights through the app.
The report said that the platform shares half of its proceeds from fan token sales with its partnered clubs, and the firm touts that fan tokens have already “generated over $150M in revenue” to be shared with its partners in 2021.
Thus, the platform has notched an extensive list of partnerships with top sporting giants such as the NBA’s Boston Celtics and Philadelphia 76ers, The Ultimate Fighting Championship (UFC), and the English Premier League’s Manchester City to name a few.
Source: Cointelegraph | Image: Britannica