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Chiliz and Socios Launching Visa Card to Buy Fan Tokens

UTC by Teuta Franjkovic · 4 min read
Chiliz and Socios Launching Visa Card to Buy Fan Tokens
Photo: Shutterstock

Chiliz.web and Socios.com, a serious trade tandem specializing in blockchain-based fan tokens, are rolling out their Visa debit card. The Socios.com Visa debit card permits world followers to “be greater than a fan”.

The alleged world’s leading blockchain fintech provider Chiliz and Socios, a major industry tandem specializing in blockchain-based fan tokens decided to roll out their own unique Visa debit card.

According to the official announcement the card, powered by Railsbank’s pioneering open banking platform, “will be available to all users on Socios.com.”

The company stated:

“Socios.com empowers users to ‘Be More Than A Fan’, allowing them to vote in club polls and earn rewards through digital assets known as Fan Tokens. Partners include FC Barcelona – who recently launched their $BAR Fan Token, generating $1.3M in sales revenue in less than 2 hours.– Juventus, Paris Saint-Germain, Atlético de Madrid, AS Roma, Galatasaray, CA Independiente, UFC and esports team OG. As many as 50 more major sporting organisations are primed to join the platform in 2020, with four more clubs to launch Fan Tokens on August 25th. Details on which clubs will be joining the Socios.com roster will be revealed on August 18th.”

The company also stressed that its Visa debit card will allow users to make deposits into their euros or British pounds wallet on Socios.com, topping up their balance and making payments for goods and services as with any traditional payments card. The card includes an IBAN and will initially be available in 26 countries in the European Economic Area, before expanding over time to additional markets.

Alexandre Dreyfus, CEO at Chiliz and Socios stated that the company’s new debit card is now being tested by a limited pool of users. He added that the Socios.com Visa debit card will roll out for mainstream users in early Q3 2020.

Card from Chiliz and Socios

However, let’s try to explain. Together with the message ‘I AM MORE THAN A FAN’ on its “veneer”, the Socios.com Visa debit card will enable its clients to optimize and increase their fan status, while at the same time they can get the access to a whole lotta other benefits. In addition to the non-branded version of the card, exclusive limited-edition club-branded cards for the leading Fan Token holders, conferring extra client advantages, will be made as well.

For each acquisition made the cardholder will be able to access financial rewards, club-related benefits and to increase their influence and status as a fan on Socios.com. The Socios.com Visa Debit Card will also enable the clubs to give more worth to their sponsors, as it will develop extra stimulus for fans to buy things.

For example, if a fan uses the card to buy the goods of an official club sponsor, he or she will get a cashback in the form of a Chiliz $CHZ deposit into their Socios.com account. Fans can also use $CHZ, the leading digital currency for sports, to buy additional Fan Tokens on Socios.com, allowing them to increase their voting weight in polls, boosting their fan status and chances of getting rewards and experiences. The fan will also get a kind of a pass for that day’s $CHZ airdrop (with a winning value of over €100 equivalent) and leaderboard points that will further increase their chances of accessing club rewards. Clients can also get similar rewards and stimulus for making transactions within the stadium, or in sports bars or shops within 5km of the stadium on match days.

Examples of rewards include Juventus ($JUV) and AS Roma ($ASR) Fan Token holders appearing, through the video, on the LED panels surrounding the pitch for recent home games. Galatasaray ($GAL) Fan Token holders also had their life-sized photos on display at the Türk Telekom Stadium for the final three home games of the 2019/20 Süper Lig season.

Dreyfus also stressed that fans will need to access fan tokens to order the card. The minimum amount of tokens for order has not been disclosed yet.

The introduction of the Socios.com Visa debit card came just after Socios secured a major regulatory license that allowed the company to issue a loyalty and payments card in July 2020.

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Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

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