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İstanbul Başakşehir is the latest soccer club to launch a fan token

İstanbul Başakşehir is the latest soccer club to launch a fan token

İstanbul Başakşehir, final season’s winner of the Turkish Süper Lig, has joined the Socios platform and can launch its personal fan token ($IBFK) by the tip of 2020.

$IBFK, like different fan tokens within the Socios ecosystem, confers voting rights and rewards upon holders and is designed to spice up fan engagement, and to monetize numerous fan experiences, each on and offline.

Token holders can vote in polls on membership selections and earn factors that, as soon as amassed, will be cashed in in change for VIP recreation tickets or alternatives to fulfill membership gamers. 

İstanbul Başakşehir is the third Turkish membership to signal on to the blockchain-based platform, and joins different worldwide, high-profile golf equipment that embody FC Barcelona, Atlético de Madrid, Paris Saint-Germain, Juventus and others.

Simply yesterday, Cointelegraph reported on information that the German membership Bayern Munich had joined the blockchain-based fantasy soccer platform Sorare, which lots of the golf equipment signed on to Socios have additionally joined.

Sorare makes use of non-fungible tokens as the premise of its digital participant playing cards, as distinct from the fungible tokens used within the Socios ecosystem. Membership-branded Socios fan tokens, that are issued in finite provide, will be exchanged for Socios’ native blockchain token, Chiliz ($CHZ), on the platform’s market.

The sports activities and crypto communities appear to be captivated with fan tokens. In June 2020,  Chiliz and Socios offered $1.three million value of FC Barcelona-branded tokens in below two hours.

Socios has additionally lately launched a Visa debit card — an evolution from its earlier model as a  pay as you go crypto-fiat card — that can be utilized to buy items and companies throughout the European Financial Space.

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