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Italian Soccer Club AC Milan Joins Socios.com To Launch Fan Token

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Italian professional football club Associazione Calcio Milan or AC Milan has inked a deal with blockchain platform Socios.com to be the "Official Fan Token" partner of the club. As part of this, Socios.com will launch the Official Fan Token of AC Milan ($ACM).

The $ACM Fan Token will be launched and go on sale in the coming weeks in a Fan Token Offering (FTO) on fan engagement and rewards app Socios.com and Chiliz.net, the world's first tokenized sports exchange. The fans can purchase the token directly through their mobile phone via the Socios.com fan engagement app.

About 450 million global fans of AC Milan can use $ACM Fan Tokens to access a wide range of benefits including voting rights in club polls, VIP rewards, 'super-fan' recognition, club & sponsor promotions, games and chat forums on Socios.com.

Some of the other teams on the blockchain-powered fan engagement 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.

Recent additions to the platform include three football clubs from Turkey - Galatasaray, Trabzonspor and Istanbul Basaksehir. As they are working with more Turkish clubs to join the platform, Socios.com is planning to open an Istanbul-based office with an initial staff of 20.

Fan Tokens for Paris Saint-Germain, Juventus, AS Roma and Galatasaray have already been listed on world-leading crypto exchanges, including Binance. Fan Tokens have generated $30 million for clubs and partners in 12 months and look set to become a powerful new revenue stream for the sports industry.

The Fan Token will help expand the club's global fan engagement strategy and their global audience by bringing fans closer to the club. 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 AC MIilan Fan Token ($ACM) will be tradeable against the Socios.com platform's native token, ChiliZ ($CHZ), with the fans needed to purchase ChiliZ tokens to exchange into Fan Tokens through a process known as a FTO.

In April, Socios.com announced plans to launch blockchain-powered COVID-19 immunity passes for global football fans to enable them to attend live games at stadiums in the aftermath of the COVID-19 pandemic.

The Socios Pass, an ID and immunity verification tool, will allow fans holding "Proof of Immunity" to return to the stadium and watch live games more safely and securely. The pass will include immunity certificates issued by health authorities. It will use blockchain technology and QR codes.

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