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Team Heretics Partners with Chiliz and Socios to Launch $TH Fan Token

UTC by Benjamin Godfrey · 3 min read
Team Heretics Partners with Chiliz and Socios to Launch $TH Fan Token
Photo: Team Heretics / Instagram

Team Heretics has partnered with Socios and Chiliz to create a $TH token for its fans. With the token, fans will be able to make decisions related to the team’s activities.

Spanish based esports organization Team Heretics has partnered with Socios.com and Chiliz.net to create a $TH token for its fans worldwide. The onboarding of Team Heretics has helped boosted the portfolio of Socios.com who aims to create tokens for about 50+ brands before the end of 2020.

With a total of about 5,000,000 Team Heretics $TH tokens in print, just 125,000 will be up for sale from the 25th to the 27th of August. According to the announcement from Socios, 125,000 $TH Fan Tokens will be sold in the Fan Token Offering (FTO) which will start on Tuesday, August 25th, and lasts until Thursday, August 27th.

Of the 125,000 tokens up for sale, 90,000 $TH Fan Tokens will be available on Socios.com, while the remaining 35,000 will be sold on Chiliz.net, a Socios.com subsidiary. Each $TH will cost €2 and they will be sold on a first-come, first-served basis.

Fans will be able to purchase up to a maximum of 50 $TH Fan Tokens on either of the exchanges. Subsequently, the Team Heretics $TH fan token will be available based on the forces of demand and supply.

Benefits of Holding Team Heretics $TH Fan Token

Just like the other fan tokens promoted by Socios.com, holders of the Team Heretics $TH fan tokens will be involved in the governance of the team.

Pablo Canosa, Commercial Director of Team Heretics, said in the announcement:

“It’s essential to us that our fans are involved as much as possible with the organization. Now – thanks to Socios.com -our fans can have a real voice and the opportunity to vote in important team matters. Not only this, but fans can also look forward to exclusive rewards and experiences too. Stay tuned to Heretics & Socios.com via social media in the coming weeks. It’s time to decide the future of Team Heretics -together!”

With the $TH tokens, holders will be involved in official polls at Socios.com. Coming with the launch of the token itself is the poll to decide which Fortnite players should captain a team deathmatch battle in the game, and the team will ultimately pick-six $TH owners to join in on the matches.

“Heretics fans can now enjoy a much stronger relationship with the team. The first poll — which will give 6 Fan Token holders the chance to play Fortnite alongside Heretics players and win some amazing prizes from Logitech — is a great way to start!” Socios.com CEO, Alexandre Dreyfus confirmed.

Socios.com Is Bringing Crypto into Sports

As the world’s leading tokenization platform for sports and entertainment, Socios.com is impressively bringing sports into clubs with its fan token provisions. The company, founded by Alexandre Dreyfus has successfully onboarded big names including Juventus, Barcelona, and Paris Saint-German.

In a world with a massive proliferation of cryptocurrencies and tokens, Socios and its partner Chiliz are leveraging the huge fan base sports organization around the world has to create an entirely new ecosystem with a unique offering.

The created fan tokens in all of these sports teams have a similar framework and it helps fans keep their relevance with their chosen team with more direct involvement. A notable example is the locker room design choice which can be influenced by fans holding the BAR token

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Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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