Entire Question

1. Explain in detail what is the Socios.com Platform?

2. What are the effects when blockchain has entered the realm of the sports industry?

3. Is Socios.com a good prospect as an investment vehicle? Explain your personal opinion along with strong evidence.

4. Explain the steps to install the Socios application in full and explore the various features in the application. (Screenshot Required)

5. Choose a Fan Token in the Socios application and do a detailed fundamental analysis. (Screenshot Required)

6. Conclusion.

Simply, Socios.com is an engagement and rewarding app which is using by SUPER FANS to engage either with their favorite sport team or club. It is a must to have the digital assets called FAN TOKENS.

Source

Now I will elaborate on this unique app.

Even though every fan likes to engage with their favorite team players, we all know that it is a very hard task to achieve. To overcome some sort of this matter, this APP introduced. This app is built on blockchain technology and uses a digital currency called $CHZ.

Simply becoming a FAN TOKEN holder, this amazing concept will get closer you to your team. As a major benefit, you will receive the right to vote on your favorite club-specific decisions. Apart from the vote right, you will be entitled to receive unique rewards, match-winner predictions, games and quizzes, and many more benefits.

Actually, there are two types of polls in this app.

1) Binding Polls – The leadership of the team must be brought into action what they received as the result in these types of polls.

2) Non-binding polls – These types of polls will be organized to get an idea about the fan’s opinions. So that it is not a must to brought the final result into action.

Most of the time, we will have non-binding polls here. Usually, there will be below subjects as the polls.

• Match Kit Design
• Man of the match
• Match locations
• Club crest

Furthermore, you can vote in a poll if you have only one FAN TOKEN in your wallet. Since your number of FAN TOKEN is not decreasing when you vote, you can participate in any number of polls your team published. However, you can earn more rewards if you interact more. If you can invest more in this awesome app, you can climb the higher levels of the memberships and you will be receiving more opportunities as well.

First of all, I will explain the main characteristics of a blockchain.

• Decentralized.
• Open general ledger
• Anyone can track the transaction history at any time.
• Since the blockchain is peer to peer, no need of middle persons.

By looking at the above characteristics, anyone can get an idea about the potential of this technology.

To explain this, I will get a very recent event which is UEFA EURO 2020. The management of the UEFA EURO 2020 was able to distribute approximately 1 million mobile tickets through their new mobile app. This newest APP enabled blockchain technology. Actually, this concept mitigated the risk of counterfeit tickets in these kinds of major events.

This blockchain concept also gave a solution to complicated broadcasting rights and licensing. We all know that most sports fans are watching sports by using their mobile phones and tablets. Most of the time, they are trying to watch live streams. With the help of a unique feature of the blockchain technology called “Smart contract automates transaction”, it can determine the targeted audience and also the amount of the fee has to pay before starting the live stream.

If a club or a team uses this blockchain technology, they can maintain the logs of all transactions and they can also handle their sponsorships securely with minimum effort. Also, they can store and share the confidential details of their players with trainers via this decentralized blockchain network.

Yes. Socios.com is a good prospect as an investment vehicle. I will brief my opinion as below.

• Majority of the world are sports lovers. Since this app is into sports, the target audience is very high.
• Since this unique concept is new to the world, competitors are very low.
• As discussed earlier, this app is built on the Ethereum blockchain.

Since the website is still in the BETA version, here I download the APP from Appstore. Just type socios.com in the search bar and click get as below.

Once the download completed, we can proceed with app installation. Just click “GET STARTED” to initiate the process.

As the next step, we have to register our email address and also, we can enter an username in this stage. Then click “REGISTER NOW”.

As the next step, we have to register our mobile phone number. After entering the mobile number, just click “Send Verification Code”. Usually, the code will arrive very fast. Once the code arrive you can paste the code and enter.

Meantime you will receive an email to verify your account. Simply, you can check your email inbox and go to that email and click “Verify Now” button. Now you have completed your account verification.

Next, you will receive a pop-up window as below. Just click "Maybe Later" and proceed.

After that, you will receive a window regarding 4 simple steps of using this APP. You can find those simple steps below.

After reading these steps you can click the "FINISH" button as below.

Here is the main screen of the APP.

We can check our verification level and the wallet details as below.

We can add CHZ to this wallet as below.

Here is the trading tab in this APP.

We can also vote in the currently active polls if needed.

To answer this question, I will choose FAN TOKEN of very famous football team; Juventus Fan Token.

First of all, let’s check the current status of this FAN TOKEN. Usually I am using (https://coinmarketcap.com/)[https://coinmarketcap.com/] to check the status of any cryptocurrency token.

• Rank – 804
• Token Price - $13.43
• Lowest Price(24hr) - $12.12
• Highest Price(24hr) - $15.65
• Market Cap - $17, 679, 354
• Total Supply – 20,000,000 JUV

Now let’s discuss some features.

FAN TOKENS was able to give some sort of a solution to sports fans in a genius way to engage with their favorite sports teams by becoming an influencer of some team decisions. To achieve this hard task, the Socios.com platform gave tremendous support. Since the concept of this unique app, My opinion is investing in this concept will be an absolutely good decision.

This is the end of my homework task and finally, I would like to give my gratitude to professor @Wahyunahrul for giving us this valuable lecture. Frankly, I was able to gather perfect knowledge on this regard.

GOOD LUCK AND HAVE A NICE DAY!!

• My achievement 01 post: here.
• My achievement 02 post: here.
• My achievement 03 post: here.
• My achievement 04 post: here.

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