Original author: Biteye core contributor Lucky
Original editor: Biteye core contributor Crush
Original source: Biteye
On October 4, the British football club Tottenham Hotspur announced that it will launch fan token $SPURS through cooperation with Chiliz. Tottenham Hotspur members and season ticket holders can receive fan tokens for free.Tottenham Hotspur are the first Premier League team to enter Web3 in two years.
As a club with an average value of 8.81 million euros per player, this cooperation can be said to be a significant addition to the Chiliz ecology. This article brings you the forefront of the fan economy. Detailed analysis of Chiliz.
01 Chiliz Introduction
Chiliz was founded in 2018 by Alexandre Dreyfus, who has many years of experience in the Internet industry. It started by establishing in-depth cooperation with many football clubs and is the first scalable sports token reward platform and sports encrypted asset trading platform.
According to Rootdata data, Chiliz raised funds in 2018, with a total raised of US$65 million. Investors include Binance, OKEX, FBG Capital and many other Crypto funds.
Chiliz mainly serves the sports and entertainment industry, customizing fan communication design plans and economical solutions for companies in the sports industry. It has currently cooperated with world-famous teams including Barcelona, Juventus, Paris Saint-Germain, etc. Jointly launch fan tokens.
Through the FTO (Fan Token Issuance) model, users can purchase tokens of related teams on Socios.com developed by Chiliz, and clubs can control token holder permissions through smart contracts, from jersey pattern design to team Daily governance votes are all-encompassing.
In addition to football team partners, F1 teams, e-sports clubs, Ultimate Fighting Championship (UFC), etc. have all joined Chiliz. Currently, there are 82 fan tokens in the Chiliz ecosystem, and the number of cooperative sports partners has reached 150+.
02 Fan Token Introduction
Among all industries, the sports industry has the strongest cohesion and the largest fan base. In the sports world, football, as the worlds number one football, not only attracts more than 3 billion people around the world, but also fans expenditures. Very high.
According to data from Football Benchmark, in the 2019/20 season, fans of the Premier League alone spent 1.3 billion pounds on watching games and supporting the team. It can be seen that the fan economy industry is already a multi-billion mature industry.
The concept of fan tokens originated from SocialFi, which is a type of social token that is issued with the support of individuals, teams, brands or communities. The holders will receive corresponding rights and interests, such as exclusive activities, interactions, voting, etc. As community consensus increases, the price will increase and the community holding the token will receive real rewards.
By securitizing individuals, consumers are allowed to directly participate in the individuals future performance and earnings, making the distribution of benefits more equitable.
Therefore, under the Web3 model, the participants of the fan economy are more fans, celebrities and platforms:
- Fans are both consumers and investors. They purchase tokens to interact with them and reap the benefits of token price fluctuations;
- Celebrities serve as the main support behind the token, and the price fluctuates with their own achievements;
- The platform is the issuer, helping celebrities operate fan groups and activities, and earn handling fees and token dividends.
In the Chiliz ecosystem, Fan Tokens are a cryptocurrency designed to provide fans of teams, bands, and other groups with membership benefits such as access to exclusive content, prizes, viewing experiences, and voting rights on club decisions.
By launching fan tokens, football clubs can fix fans, that is, maintain the interaction between stars and fans, strengthen fans loyalty to the club, and bring fans closer to stars. These activities and rewards are difficult to implement without fan tokens. At the same time, this type of fan tokens are also explored in various ways of empowerment, such as using fan tokens to vote, allowing fans to choose the slogan on the team captain’s armband, and obtain unique experiences such as watching games in the VIP area and entering the backstage of the football team’s stadium. , as well as special discounts on owning club items and more.
For example, Inter Milan Fan Token holders voted for the first new goal celebration song in eight years, participated in the selection of the official team bus and voted on the jersey design.
03 Tools to Fan Club: Socios.com
What is Socios
In 2019, Chiliz launched Socios.com, a mainstream consumer-facing app. Powered by the Chiliz Chain, Socios is a fan engagement and rewards app that allows fans to connect with their favorite teams through digital assets called Fan Tokens. Interact with the club.
Fans can exchange $CHZ for Fan Tokens of their favorite teams, obtain Fan Tokens and participate in a series of team-related votes, purchase merchandise at a discount, and through Socios.com and Fan Tokens, fans can participate in the football clubs they support. Make decisions on daily affairs and express your opinions by voting.
The features of Socios are as follows:
1) Issuing fan tokens and determining fan token holding benefits:There is a Fan Token Offering (FTO) launchpad in Socios that enables clubs to easily issue and distribute Fan Tokens. Additionally, Fan Tokens have a burning feature that increases the scarcity of the tokens for sports teams, thereby increasing their value. Benefits for Fan Token holders vary by team, and each team can decide which benefits token holders can receive.
2) Transaction:Fans can purchase $CHZ directly using a credit card, as well as purchase and trade the team’s fan tokens in Socios via $CHZ;
3) Vote:Fan Token holders have the ability to influence the decisions of the teams and clubs they support, and fans can directly participate in the decision-making process of their favorite teams through Socios. For example, Arsenal Football Club fans can use Arsenal Fan Tokens (AFC) to vote on the design of team merchandise, in-game banners, the naming of the playground or the song for goal celebrations, while receiving rewards and unique experiences. The platform ensures that clubs fairly respect fan voting results through smart contracts.
Some examples of choices that Fan Token holders can influence include the exterior design of a team bus or the graphic selection of a new team gear design. For each vote, each Fan Token holder will receive one vote. The strength of your vote depends on the number of Fan Tokens you have. If you own a fan token, your voting weight is 1. However, if you hold 50 Fan Tokens, your vote will have 50 times the impact.
4) Earn loyalty points:Token holders can also earn points by participating in team voting, games, quizzes, and more. As you use the app and accumulate tokens, you will earn SSU, our in-app loyalty token. Loyalty Tokens can be redeemed for team merchandise tickets, memorabilia, game day and VIP experiences, meet and greet events and more in our Fan Rewards feature.
5）Token Hunt：This is an augmented reality game that allows players to find free tokens hidden in the community.
The Socios.com platform bridges the gap between fans and teams, allowing both parties to connect in a more diverse and richer way. Fan Tokens allow fans to enjoy the same benefits as membership, but when holding Fan Tokens There are no annual or monthly subscription fees, keep them forever without paying more for the privilege.
Popular football clubs with millions of fans currently have partnered with Chiliz to issue fan tokens, including Arsenal FC’s AFC, Atletico Madrid’s ATM, FC Barcelona’s BAR, Manchester City’s CITY, Paris Saint-Germain’s PSG, and more etc., and operates under its Socios APP.
Tottenham Hotspur
tottenham hotspur football clubTottenham Hotspur Football Club, referred to as Spurs, is a football club located in Tottenham, London, England, currently competing in the English Premier League.
Tottenham are the first team in the 20th century to become double champions of the league and the English FA Cup. They are one of three teams that can win two consecutive English FA Cups and are the only team to achieve this feat twice. team.
Winning the European Cup Winners Cup in 1963, they were the first British team to win a European championship.His Twitter currently has 8.8 million followers and is firmly in the top fifteen in the Deloitte Football Club Wealth Ranking and Forbes Football Club Wealth Ranking.
Tottenhams decision to utilize blockchain technology was driven by a desire to enhance fan engagement and provide rewards through the Web3 Fan Token.
This innovative move is driven by Socios.com and this development brings Tottenham Hotspur with other famous names such as Manchester City, Arsenal, Barcelona, Paris Saint-Germain, Juventus, Inter Milan, AC Milan, Atletico Madrid and Roma. Football clubs are aligned, all of which have adopted blockchain technology to revolutionize fan engagement.
In addition to the fan tokens, Spurs will also partner with MatchWornShit, a platform that facilitates the auction of jerseys worn by players during matches. Certification of these auctions on the Chiliz blockchain ensures transparency and trust in the process.
Tottenham Hotspur plans to integrate Fan Tokens into its existing loyalty program and mobile app, aiming to provide fans with an enhanced and seamless digital experience while cultivating a stronger sense of community among supporters .
Spurs Fan Tokens are now available as an additional benefit within the club’s membership scheme, with all One Hotspur+ members and season ticket holders (over 18 years old) receiving 5 free Fan Tokens and 1 Hotspur/1 Hotspur Connect Members will receive 1 fan token.
Club member fans will receive a coupon code via email which can then be redeemed on Socios.com.
Points can be earned through these tokens to unlock rewards and experiences, such as tailored rewards for Tottenham fans such as big screen messages, VIP tickets, Tottenham store vouchers and virtual meet-and-greets, with which the club has taken the time to The Fans Advisory Committee was approached to discuss how Tottenham Fan Token holders would benefit and participate in the rewards available on Socios.com.
Ryan Norys, Director of Commercial Sales at Tottenham Hotspur, said: “We are delighted to be able to offer fans around the world a range of new club-related rewards and experiences. Our Fan Tokens will build on the many benefits of our existing membership programmes. On top of that. We will be offering free Fan Tokens to all members and season ticket holders at launch, as well as partnering with Socios.com to offer a range of attractive rewards for domestic and international fans. This partnership is how the club is working towards Another example of creating an additional recurring revenue stream to reinvest in our football activities.
Emma Diskin, chief operating officer at Socios.com, said: Fans around the world can enjoy a unique experience on Socios.com simply by showing their support for the club through Fan Tokens. With this launch, Tottenham fans will be able to participate Club-related polls, predictions and competitions through which points can be earned to unlock new rewards and experiences.”
04 Chiliz Future Outlook
Chiliz Chain Mainnet
In May 2023, Chiliz officially launched the Chiliz Chain public mainnet (all previously issued fan tokens have been migrated to the mainnet). On August 30, Binance announced that it will support the Chiliz Chain mainnet. On October 20, Binance announced the official completion of Chiliz Chain mainnet integration.
Chiliz Chain is a Layer 1, EVM-compatible, interoperable ecosystem that will introduce a system of 11 active Proof-of-Stake (PoSA) node validators, responsible for validating transactions and creating a highly secure environment. Approved developers can build projects from it that will form the backbone of Web3 in sports. Currently announced validators include Ankr, Paribu, Meria, Luganodes, etc.
All fees on the Chiliz Chain will be paid using the Chiliz native token $CHZ, which operates the same way ETH operates on Ethereum,That is, CHZ can be used for:
1. Pay gas to deploy or call smart contracts;
2. Perform cross-chain operations, such as transferring assets across Chiliz Chain and Ethereum;
3. Secure the network through staking or delegation and get rewarded for staking your $CHZ on-chain.
Chiliz Chain Features:
1. Blocks are generated by a limited group of validators;
2. Validators take turns generating blocks in a PoSA manner, similar to Ethereum’s Clique consensus engine;
3. The verifier set is entered and exited based on the pledge governance election on the Chiliz chain;
4. The Parlia consensus engine interacts with a set of system contracts to implement activity reduction, revenue distribution, and validator set update functions.
Chiliz Chain is currently the blockchain technology behind Socios.com and the Fan Token digital sports ecosystem, enabling teams and clubs to build direct relationships with audiences around the world. According to data from October, the ecosystem currently has over 2 million wallets with over $4.5M in total transactions.
Chiliz Chain aims to become the leading blockchain for enterprise-grade sports and entertainment brands, giving any developer interested in exploring the potential of Chiliz Fan Tokens the opportunity to leverage the existing vast network of over 150 leading sports IPs. As an EVM-compatible chain, Chiliz Chain will remain compatible with Ethereum tools, making it simple and easy to build in the Chiliz Chain environment to create a unique Web3 sports ecosystem.
Chiliz Ecology
On March 1, 2023, Chiliz announced the launch of a $50 million accelerator program and a series of hackathons around the world to promote innovation in Chiliz Chain.
The accelerator program will be powered by Chiliz Labs, a $50M accelerator and incubator for early-stage sports blockchain projects looking to build on Chiliz Chain.
A series of Web3 sports projects incubated by Chiliz Labs will be announced in the coming months. Projects will include Metaverse-based sports, football and football manager games, rewards and engagement-driven community platforms, social gaming platforms, AI-based content platforms, 3D digital sports collectibles and NFT ticketing initiatives.
Currently, in the Chiliz Chain ecosystem, the projects that have been cooperated with are mainly as follows:
1) ONTO wallet:With more than 1 million users, supporting more than 1,000 dApps and covering more than 60 blockchains, ONTO Wallet is a well-known decentralized multi-chain platform that facilitates user identity and asset management.
2）Blockasset：An ecosystem of athlete-verified NFTs and tokens that enables fans and athletes to connect like never before through the power of Web3.
3）LiveLike：An audience engagement platform that turns online customers into loyal fans through customized interactive experiences.
4）FanFest：An SDK for membership/token-gated virtual experiences to commercialize decentralized fan communities.
5）Tickie：A complete ticketing and fan engagement solution that leverages Web3 to unlock the full potential of every ticket.
6）Legend：Designs and creates unique digital trophies and medals, bringing a modern twist to traditional sports awards through its innovative NFT platform.
7）Abrakadabra Game Technologies：Revolutionizing the gaming industry with patented technology that creates games based on real-life videos.
8）TopGoal：Footballcraft, the decentralized football game owned by TopGoal, will be launched on Chiliz.
9）Football AlphaVerse：An artificial intelligence-driven 3D interactive entertainment platform dedicated to football, clubs and fans.
05 Summary
As a blockchain focusing on the sports entertainment fan economy, Chiliz has cooperated with many world-renowned football clubs, such as Barcelona, Juventus, Paris Saint-Germain, Tottenham Hotspur, etc., with a total of more than 82 fan tokens. and more than 150 partners. Through the issuance and trading of fan tokens, Chiliz is creating new prospects for the fan economy and exploring the potential of fans in the sports market in a new way.
An important tool for Chiliz is Socios.com, a fan engagement and rewards app. Fans can use $CHZ on Socios.com to purchase Fan Tokens for their favorite teams and participate in voting and enjoy unique benefits. Through this platform, fans can more directly influence their favorite teams, vote on the teams design, activities and decisions, and maintain closer interaction with the team.
The emergence of new fan economic models such as Chiliz and Socios.com has established a closer connection between teams, stars and fans, bringing more possibilities and innovations to the sports industry and the future fan economy. At the same time, with the cooperation with Tottenham Club and the launch of the main network, how the Chiliz ecosystem will continue to develop deserves long-term attention.
