Fan tokens have slowly been something that I have grown more and more fond of. Initially they seemed kinda weird and it did not help that the first fan tokens were of European Soccer teams and some professional gaming teams neither of which I really follow. As the platform has grown though to encompass more sports and different regions it has gained a larger and larger audience.
Eight days ago Socios.com announced that they would be reliving 7 teams in 7 days that they had partnered with. That night they began announcing their newest partnerships. All of these teams are from the NBA so this continues their North American push and grabs one of the top 3 sports in North America at the same time. The following teams were announced over the next week: the Sacramento Kings, Orlando Magic, Detroit Pistons, Houston Rockets, Los Angeles Clippers, Chicago Bulls, and finally the Minnesota Timberwolves.
What made these partnerships different though compared to the other ones that Socios.com has announced is that they do not involve Fan Tokens. At least not yet and instead the app will be used for fan engagement and fan rewards purposes. While it has not been said it is easy to assume that this is due to US regulators kinda sorta trying to figure out how to regulate things like this. Fan Tokens are not a big thing in the US and even when the UFC released their tokens it was released to everyone outside of the US due to regulation concerns.
Since I am from Houston I would love to support the Rockets and purchase some of their fan tokens. I am hopeful that with the Infrastructure Bill working its way through Congress now and hopefully put to a vote by the House as soon as they return from Recess. The Bill was far from perfect but it did provide some key clarity for the cryptoworld and how the SEC was going to be able to regulate it. Someone has to say it so it might as well be me but with more and more Billionaires now getting involved with this world it is giving the space legitimacy in the eyes of politicians.
Last thing someone up for reelection wants to do is piss off a huge financial backer because they could turn on you and with some of these people just pour millions of dollar into a race just to spite you. At that point with the resources that either party would have to spend defending their candidate it would be a huge sunken cost and really highlight how bad of a self inflicted wound it was. Personally I was hoping to see some Baseball teams enter the mix but that has not been the case yet. Baseball has though led the way in allowing people to pay for seats in Bitcoin and Doge beating out even the NBA! It will be interesting to see if some of the teams announce something about fan tokens as they have been in sports news due to Messi's contract so younger fans are much more aware of them now!
