Saturday, March 2, 2024

Socios Fan Token Platform Signed 13 NFT Teams: Report

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The Socios Fan token platform signed 13 NFT teams but there are no new NFT team tokens because of league restrictions so let’s read more today in our latest cryptocurrency news today.

The Giants, The Rams, and the Buccaneers are among the new allies of the Socios fan token platform after it signed a multi-year marketing partnership with 13 new NFL teams. These deals don’t have a fan token included yet because the NFL has restrictions on such partnerships. Socios hosts dozen of fan tokens for the EU soccer clubs along with other sports and other organizations and expanded into the US via a series of pro team marketing partnerships without a token attached. The firm added a new stack of the new NFL teams to its growing pile.

Socios announced a new partnership today with 13 teams: Baltimore Ravens, Atlanta Falcons, Cleveland Browns, Chicago Bears, Los Angeles Chargers, Miami Dolphins, Los Angeles Rams, Philadelphia Eagles, New York Giants, San Francisco 49ers, Pittsburgh Steelers, Tampa Bay Buccaneers, and Washington Commanders. Socios signed one NFL team previously which was the New England Patriots in a deal announced last November and this agreement also included Major League Soccer’s New England Revolution that shared an ownership group in Entertainemntand Kraft sports.

Fan Tokens, market cap, socios, chilliz

The CSO Max Rabinovitch said that the 13 new NFL team deals represent the culmination of a year of conversations with the American football league itself:

“The best way to look at these deals, as anything, is as a signal that the league is comfortable and interested in us, and was in a good enough place after our discussions, where they essentially let us have the privilege of signing with as many teams as we did.”

As with the Revolution deals and Patriots along with Socios’ partnerships with plenty of NBA and NHL teams, the 13-team deals don’t include a fan token. Socios is known as the leading sports fan token in the crypto space with tokens for soccer giants like PSG, Manchester City FC, and Juventus. The tokens are now minted on blockchain platform form from ETH and can be traded on the market with a lot of benefits like voting on team decisions and more. CNBC also reported that the NFL told teams it is easing restrictions on sponsorship deals and it still prohibits promoting crypto and specific tokens. The NFL has its own NFT collectibles also. The NFL Consumer Product Joe Ruggerio said:

“We’re extremely bullish on blockchain technology. We think that it has a lot of potentials to really shape innovation, shape fan engagement over the course of the coming decade.”

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