Two Formula 1 Teams Join Socios.com’s Blockchain Platform

Aston Martin Cognizant Formula One Team and Alfa Romeo Racing ORLEN have become the first two Formula 1 Teams in the world to launch Fan Tokens on blockchain-powered fan engagement Socios.com. The launch of the tokens is expected to raise the profile of their brands globally across a worldwide audience of around two billion.

Two million $AM and $SAUBER Fan Tokens will be distributed to fans who pre-brought through Chiliz’ fan engagement & rewards platform Socios.com. Both Fan Tokens will be available for general purchase on the platform in the near future.

Fan Tokens are collectible digital assets that are minted on the Chiliz blockchain and provide owners with access to voting rights in polls, VIP rewards, exclusive promotions, AR-enabled features, chat forums, games and competitions.

Aston Martin Cognizant Formula One Team and Alfa Romeo Racing ORLEN join a list of 34 major sporting international organizations or properties who have partnered with Socios.com. These include Spain’s La Liga soccer clubs Atlético de Madrid and FC Barcelona as well as European league clubs, France’s Paris Saint-Germain, Italy’s Juventus, AC Milan and AS Roma as well as UK’s West Ham United and Argentina’s Club Atlético Independiente.

Last week, Socios.com also announced partnerships with NASCAR’s Roush Fenway Racing, Argentina’s national soccer team, and India’s Indian Premier league teams – Royal Challengers Bangalore, Punjab Kings and Kolkata Knight Riders.

Fan Tokens have generated more than $150 million in revenue for clubs and partners in 2021 alone and look set to become a powerful new revenue stream for the sports industry.

The Fan Tokens will help expand the Formula One Teams’ global fan engagement strategy by bringing their global audience closer to the teams. Meanwhile, 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 two Fan Tokens, $AM and $SAUBER, will be tradeable against the Socios.com platform’s native token, ChiliZ ($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.

Socios.com has major global expansion plans and will increase their existing presence in Europe, while targeting many more Fan Token launches in the USA, UK, Asia and South America with the world’s leading sporting properties.

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