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Explain in detail what is the Socios.com Platform?

Socios is a platform which makes it possible for cryptocurrency tokens that are produced as fan tokens and sold out to the supporters of a team or generally crypto enthusiasts to possess the ability to have a say when it comes to decisions relating to the clubs or teams whose tokens they have purchased.

Interestingly, this blockchain platform has successfully landed some important partnerships. One of such heights attained was the announcement of a token for the Arsenal football club. Other clubs with which the platform is working include Manchester City, Barcelona, Paris Saint-Germain, atletico Madrid, AS Roma, AC Milan, Inter Milan and Juventus.

HISTORY OF SOCIOS

The origin of socios shows that its name may have been derived from a word in Spanish. The word stands for a symbolism which is used to describe clubs that are run by supporters. Such clubs include Real Madrid and Barcelona.

Usually, once a fan is able to buy a club token which may cost about £2, he can use such a token on the app. One of the important uses is to vote on such decisions which can include players to be bought, the songs that should be played when games are ongoing and the name that could be given to a training ground.

Since the app was launched way back in 2019 it has received over 1.2 million downloads. The company has equally released figures to indicate that the app boasts of over 900,000 very active users. Normally, when a token belonging to a club is sold the reward is shared in a 50/50 ratio.

This could amount to huge millions of pounds of rewards as more clubs are set to join the already over 45 existing partners. Some of the games and sports that have partnered with them include mixed martial arts (that has even received up to half of $150 million revenue), motor racing, cricket, NBA basketball and football.

Actually, this platform belongs to Chiliz. Its cryptocurrency, CHZ, can be exchanged on major exchanges to obtain fan tokens. The whole idea was conceptualized by Alexandre Dreyfus who is a French internet entrepreneur.

What are the effects when blockchain has entered the realm of the sports industry?

The introduction of blockchain into the sports industry is a win-win situation for the world of sports. In fact, it wouldn't be long before a widespread adoption could be witnessed due to the immeasurable advantages that come with blockchain technology. Some of the likely benefits include:

• Immutability:- Blockchain records are known to be unerasable and this could be of benefit to the world of sports. Once important records belonging to the club have been stored it cannot be unduly tampered with.
• Verifiability:- Again the storage of records of the club can always be made available to the public for the purposes of references when the need arises. The openness will also ensure that records cannot be manipulated as has often been seen in some club voting systems.
• High level of security:- The introduction of blockchain technology to the sporting world would ensure that records are highly secured and those that do not have to be made public can be encrypted and sent across.
• Earning transaction fees as rewards:- One other possible advantage of introducing blockchain technology to the world of sports is that when the volume of transactions over the blockchain increases tremendously - as sports enthusiasts globally are very avid - there is the possibility of generating income through transaction fees.
• Possibility of attracting venture capitals:- Introducing blockchain technology to the world of sports equally comes with the possible advantage of attracting serious-minded and business-like venture capitalists who would wish to explore profitable options with new forms of investing.
• Possible mergers:- The introduction of blockchain technology means that some obsolete technologies that are not serving properly could possibly go into mergers with newer corporations to produce better results.

However, we cannot afford to neglect the possible downsides chief of which could include high carbon emissions that usually come with over-dependence on blockchain technology especially when it consumes a lot of energy in token production or possible mining of coins. Nevertheless, I believe the benefits would by far outweigh the demerits.

Is Socios.com a good prospect as an investment vehicle? Explain your personal opinion along with strong evidence.

I do personally believe that Socios is a very good prospective investment opportunity. It is even more interesting to note that not just the owners of the platform but also the clubs as well as even the supporters and fans can all earn from this initiative. One of the examples I have already pointed out is in the sharing formula where the platform received 50% and the rest of the 50% of $150 million gain in revenue was shared between Socios.com and one of their mixed martial arts partners.

Furthermore, since this platform is bringing an entirely new solution to the sporting world I do believe that it may not be long before the interest of big venture capitalists are drawn to it for possible mergers or expansion. Equally, a greater level of adoption of their model of operation could be seen with other companies which would increase their reputation as the forerunners. Interestingly even fans can earn from this initiative by participating in the questionnaires that are usually displayed in the app.

Explain the steps to install the Socios application in full and explore the various features in the application.

(App not verifiable in my country Nigeria)

Choose a Fan Token in the Socios application and do a detailed fundamental analysis.

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AS ROMA FAN TOKEN

Parameter	AS Roma Fan Token Statistics
AS Roma Fan Token Price	$7.34
Price Change (24h)	$0.06913
24h Low / 24h High	$7.17 /
Trading Volume (24h)	$7,708,026.72
Volume / Market Cap	0.5163
Market Dominance	0.00%
Market Rank	#861
AS Roma Fan Token Market Cap	$14,930,523.43
Fully Diluted Market Cap	$73,431,885.47

Founders And Developers:-

Alexandre Dreyfus became the founder and CEO of Socios.com and went into partnership with AS Roma football club to produce the ASR fan token. Rewards are shared in a 50/50 ratio between the app owners and the club for every single purchase.

Launch Date:-

The ASR was launched on the 11th of February 2020 and was sold at a base price of £2. During its Fan Token Offering (FTO) it could only be purchased from the Socios.com app.

Objective Of The Token:-

AS Roma Fan Token simply exists as an asset which could serve as a proof of membership of the support group of AS Roma football club. As a fan to token it has different possible use cases. One of the most interesting of these use cases is the ability to use it for voting on important club related decisions. Equally, they can exist as a store of value.

Operation:-

This fan token operates with Chiliz which is an ERC-20 utility token. Chiliz is developed on the Ethereum blockchain and is the base currency for Socios.com where AS Roma fan token originates. Initially, when it was introduced as a fan you would have to buy CHZ from any suitable exchange and then exchange today AS Roma fan token. However, nowadays you can exchange almost any of the major assets like BTC and USDT for the AS Roma fan token.

Native Token:-

Originally the native token of the AS Roma fan token from where it could be obtained was the Chiliz (CHZ). This was because CHZ was the currency which powered Socios.com that hosts ASR. Nonetheless, it is possible to obtain the token without the native CHZ token.

Availability:-

AS Roma Fan Token is available for purchase from different exchanges which include Binance, Paribu, ZT, Pionex and BKEX.

CONCLUSION

The introduction of blockchain technology into the world of sports is a development I personally find very interesting. This is due to the fact that while it offers us the opportunity of benefiting from the inherent advantages that come with the modern blockchain technology which can include verifiability, immutability and high security, we stand the chance of even making our lives better by earnng some rewards in a way or two from the entire setup.

While this entire concept is at its very initial stages organizations like the Socios.com is already headlining a new form of use case with the introduction of fan tokens to unite the athlete and the supporter in an interesting way. Expectedly, it wouldn't be too long before a widespread adoption as well as other use cases begin to spring up.