Turkey's professional football club Galatasaray Spor Kulübü inked a deal with blockchain platform Socios.com to be the "Official Fan Token" partner of the club. As part of this, Socios.com will launch the Official Fan Token of Galatasaray.
Galatasaray will be the sixth football club to join the blockchain-powered fan engagement platform after Spain's La Liga soccer club Atlético de Madrid as well as European league clubs, France's Paris Saint-Germain, Italy's Juventus and AS Roma as well as UK's West Ham United.
The Galatasaray Fan Token will be available for sale to its fans in the first quarter of 2020. They can purchase Fan Tokens directly through their mobile phone via the Socios.com fan engagement app.
The Fan Token will help expand the club's global fan engagement strategy and their global audience by bringing fans closer to the club. Fans will be able to engage and have a say in club matters through mobile app voting and polling platforms using the fan token.
Token owners will also be granted club-specific once-in-a-lifetime experiences and exclusive rights. They will have access to exclusive fan rewards, merchandise, games and leaderboards.
Socios is expected to benefit from a wide range of marketing rights including in-stadium, TV and digital exposure.
Socios.com is powered by Malta-based esports voting platform ChiliZ, which allows both esports and sports entities to tokenize their voting rights to their fan bases to crowd-manage sports and esports organizations.
The Galatasaray Fan Token will be tradeable against the Socios.com platform's native token, ChiliZ ($CHZ), with the fans needed to purchase ChiliZ tokens to exchange into Fan Tokens through a process known as a Fan Token Offering or FTO.
Galatasaray is known as a European club as the Turkish professional football club is based on the European side of the city of Istanbul in Turkey. It is the only Turkish club to have won a major UEFA competition. They are the 2018-2019 Süper Lig Champions.
Last year, social trading platform eToro had signed an advertising deal with seven of UK's Premier League football clubs, for which payment will be made in Bitcoin.
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