This year Chiliz and Socios.com have been busy. While both commonly run together they are essentially two different entities with Chiliz being a blockchain and base layer company with Socios.com built upon it. Since both overlap though they are often thought of as the same things. All of that being said the moves made by the two different entities have been remarkable, to say the least.
Chiliz $100 Million Investment
The current market environment is not exactly the best for most crypto/blockchain firms. The markets have been depressed and the macroenvironment is rough, to say the least. All of that being said it is extremely impressive to see Chiliz and Socios.com able to continue to deliver and build out. Since the beginning of the year, Chiliz has delivered Chiliz 2.0 while Socios.com has experienced explosive growth! Instead of doing what most projects/companies do in taking a down period both of these have continued to deliver at a pace that I would not have expected to see. It is rather incredible in the current environment to see that the two teams have been able to continue to deliver to users as these two teams have.
Recently Chiliz made headlines with the investment and further integration with FC Barcelona, one of the earliest partners with the crypto firm. Chiliz announced that they were investing $102 million in FC Barcelona digital studio, Barca Studios, for 25% of the production company. Given the current crypto bear market an investment like this is substantial and in a few years could be a huge bargain for the Chiliz team. This partnership is expected to result in the football (soccer) club being able to better build NFT and metaverse projects for Chiliz it will better help them be able to refine their approach with Fan Tokens and NFTs in general. While Chiliz might be having to pay for this it allowed both partners to be able to better connect with their fans and that is something that Fan Tokens is all about. It also needs to be considered with the incredible cost of owning or participating with these teams what the possible payout is if for some reason FC Barcelona is sold and the digital studio is sold with it the payout that will await Chiliz. Since FC Barcelona is a memorable and historic football club investing for this price is something that the Chiliz team can bank on being worth much more moving forward.
Not to be outdone yesterday Socios.com sent an email to me and I assume the other Socios.com users in the United States about their U.S. facing app. In January Socios.com updated its app and it added a geographical lock that prevented U.S. users from topping up their Chiliz tokens as well as buying more or new Fan Tokens. Since they applied this update/lock a ton of new Fan Tokens had dropped including some for U.S.-based sports/sports leagues. The email informed Socios.com U.S. users that the app is soon to launch and is expected to come out before the end of this summer! With summer getting close to the end it means finally that the app will be released!
That was not all though! Over the last year or so dozens of different NFL, NBA, NHL, and MLS teams have partnered with Socios.com for fan engagement activities. The email strongly hinted that once this U.S.-facing app is released Fan Tokens for these teams will quickly follow suit! As someone who is a big NHL fan and my two favorite teams have signed on with Socios.com I am ecstatic to see these tokens come out! I will be able to participate in fan votes for my favorite teams on the blockchain which is an amazing development. For both Socios.com and the Chiliz blockchain, this will be huge as there are a high number of crypto and blockchain investors in the U.S. who would be able to fully participate! Once this app goes live I would expect to see the transaction activity shoot up as well as the price of different Fan Tokens already released since U.S. users will be able to buy once again. I am super excited to see this finally happen and cannot wait to be able to fully experience the Chiliz/Socios.com app again!
Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to further support me below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
Robinhood is offering a great signup deal if you use my link here where we will both be awarded free stock. All that you have to do is sign up and connect your bank account for the award! With commission-free crypto trading and the ability to set limit orders, it is a great hybrid offering in my opinion! Not to forget the addition of wallets and the ability to send and receive crypto!
Offers daily wheel spins to win free sats daily! If you sign up for Fold with my link here you will get 5,000 sats for free!
Sign up using my link here and get a free $10 credit towards your first $40+ purchase!
Sign up for Coinbase and earn $10 of free Bitcoin when you buy or sell $100 in crypto with my referral here!
If you are like me and walk to work every day this app rewards your walking with Sats! So far I have earned over 6,000 sats in just a couple of months walking to work! Here is my link!