Italian Football Federation Joins Socios.com To Launch Fan Token

The Italian Football Federation or FIGC, has become the third national football federation in the world, after the Argentina and Portugal, to join the blockchain platform Socios.com to be their “Official Fan Token” partner. As part of this, Socios.com will launch the Official Fan Token of Italian Football Federation ($ITA) to engage with their global fanbase.

The reigning European Champion has inked a deal to this effect with blockchain platform Socios.com and Malta-based esports voting platform ChiliZ.

The Italian Football Federation will reinvest revenues from the sale of $ITA Fan Tokens into the federation to promote the long term development and continued success of the national team. The funds to be allocated primarily at the youth level to improve training facilities, coaching and player resources.

The details on when the $ITA Fan Token will launch, as well as the price and supply will be revealed later.

This partnership will allow FIFC to expand their relationship with their global fans, providing new engagement opportunities and the chance for fans to be rewarded.

Furthermore, Socios.com will be the title sponsor of the Women’s Italian Cup for the next two years, confirming the growing interest in women’s competitions organized by the Football Federation.

Socios.com has helped over 1.3 million users from 167 countries to engage with and be rewarded by the teams they love through Fan Tokens, which are digital assets, minted on the Chiliz blockchain, that provide owners with access to voting rights in polls, VIP rewards, exclusive promotions, AR-enabled features, games and competitions.

These fans will also be able to put their skills to the test against other fans from around the world in games, competitions and quizzes, competing in global leaderboards and earning real-life and digital club-related rewards, benefits and experiences along the way.

Italy is the third national football federation, following in the footsteps of AFA (Argentina) and FPF (Portugal), to join Socios.com’s elite global network.

Some of the other over 100 teams on the platform 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 and AS Roma as well as UK’s West Ham United and Argentina’s Club Atlético Independiente.

Socios.com also recently added to its offering for Fan Token holders, launching the first ever live ‘in game’ NFTs in collaboration with AC Milan, Valencia and S.C. Corinthians.

The 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 FTO.

The Fan Token will help expand the teams’ global fan engagement strategy and their global audience by bringing fans closer to the team. Meanwhile, Socios is expected to benefit from a wide range of marketing rights including in-stadium, TV and digital exposure.