Socios.com is reward base fans involving app that enables its users to vote on their favourite teams and also on their merchandise. It enables its users to purchase the items on given tokens also predict the results of the matches. It is a digital assets being setup by the Chiliz ($CHZ). The users can engage with their favourite teams as well as clubs through digital assets called as Fan Tokens. These Fan Tokens can be used to vote in club polls. Several chatting forums have also been developed where fans can connect with each other. VOP reward system is also present in the app.

Socios fan tokens of football,cricket, Fighting, gaming

In recent times, socios.com has partnered up with more than 45 clubs and teams including the likes of Paris-Saint-Germain, Juventus, and Manchester united, Inter Milan and Chelsea etc. Fans can purchase their club’s tokens and can easily vote through the digital asset.

Features of Socios.com

Socios.com uses geo-location technology to place Fan Tokens and $CHZ around the globe. They cover almost every part of sports industry including stadiums, hotels, merchandise etc. Socio.com has provided a wonderful User Experience which is very friendly and can be operated with ease.
Main clubs that joins the socios.com generates a Fan Token for their users. Users can easily purchase the Fan Tokens. These Fan Tokens can act as a membership card to get rewards and also free merchandise depending upon the clubs.
Thanks to socios.com, Fans are involved in the decision making polls of their chosen clubs. By doing this, they can easily catch up with the latest news and events that are taking place. Socios.com has covered major portion of sports industry including Basketball, football, Racing and Cricket etc.
As we know that socios.com is developed by Chiliz ($CHZ). Considering the fact, we can easily find that $CHZ is a Cryptocurrency token which is generally based on the Ethereum Blockchain. ERC-20 tokens are the base of these digital assets. Blockchain is playing a vital role in the sports industry which is being hold up by the socios.com platform.

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

Blockchain has strongly made its presence felt from the past few years. It was the need of the hour that everything should be settled in a proper time and concerned environment. There is already evidence that the sports industry is also been shifted towards the virtual currency. So, the question that arises is that what the effects of it are. There are certain points which are positive and will allow us to pursue our sports industry towards this new feature of the world.
Still some people did not understand what a Blockchain is and how it works. Blockchain provides direct peer-to-peer connection between the two parties. There is no involvement of any third party in the deals. If we only explore this feature of Blockchain, we can see that any two parties can do contract signings on a trusted and unbreakable platform without any concern. The costs are greatly reduced by it. In this way, trust is built between the stakeholders to invest more in that specific club or team. Virtual transparency gives the security that the given information will remain confidential no matter what is happening in the surroundings.
A sustainable relationship is developed between the clubs and their members which are based on the Blockchain. Several clubs are keen to explore and increase their activities so that their membership can be enhanced. Blockchain can meet the requirements of the clubs with firm and secure environment.
We can also consider the example of the Paris 2024 Olympics. The managers are viewing the fact that the Blockchain can provide them a solid platform to work on. They are developing a digital ticketing system in every stadium that will allow the fans to purchase and deal in with different features with ease.
A decentralized app that will be connected with the club will allow it users to buy the merchandise with tokens. They can also vote on the clubs decisions such as strategic and financial decisions. Blockchain will also allow organizing events with in the clubs. Based on the Cryptocurrency, it allows the club to fund the projects based on the memberships and also raise money for its members by crowd funding.
The activities done by the players and the new signing can also affect the digital value of the respective club and the sponsors. For Example, the gesture of removing coca cola bottles by Ronaldo greatly affects the stock prices of the beverage company. In the same way, Messi’s move to PSG has increased in the sales and revenue of the club. All these kinds of activities largely affect the sport industry related to the virtual asset based on the Blockchain.

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

As the world is moving towards the digital currency, it was necessary that the same could be done for the sports industry as well. Since its arrival, Socios.com has impacted the digital market greatly. It had reached its greatest price in current year which shows that this virtual platform is growing thick and fast. If we look as an investor in socios.com, we have to consider the fact that it’s a long-run investment platform and we have to observe and manage the things with patience.
I believe that the socios.com is quite brilliant in its approach. We can look into the transfer of Christiano Ronaldo from Juventus to Manchester United. Due to this transfer, there was a sudden decrease seen in the $JUV token price. This gave the users a proof and future predictions of what the future looks like.
We can also consider the fact that the players bio-data is also essential to be kept secure from the hackers. As seen in the past, the data has been hacked and manipulated by the hackers which then affect the players. Due to the involvement of the blockchain, it will be impossible to hunt down the data of the players. The results can be checked only once and cannot be manipulated.
The betting industry is also largely involved in the sports industry and everybody is aware of that. Basic requirement of the betting is a Broker. That person is transparent or not is still a question for everybody. Thanks to the Blockchain, fans can now easily bet on their respective matches without the concern of the cheat and frauds done by the Brokers.
Major evidence can be seen in form of the fantasy sports. Its revenue is already in Billions of dollar. Due to the frauds in this industry, many players have to leave the clubs because they did not believe in the platform anymore. This is where the Blockchain plays its part. Blockchain will allow transparency which will make sure that the assets are secured and the funds transfer can be done smoothly.

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

As my phone is android, I have explored the play store to download and install the socios app. Firstly; I searched the app in the play store. Then, I click on the install button to start the downloading process as follows:

• After the installation is completed, I opened the app and it started to load:

After that, the installation process is likely to start but it gives an error. Due to this, I wasn’t able to pursue the registration process and to start using the app. The operation happened is shown in the figure given below. I tried many options but as it is only present in the app version, so I was not able to register by using my laptop as well.
So then I saw an alternative site from where I can explore the things.
https://www.socios.com/
There is brief description regarding to the installation of app is given on the website as well. Let us look at the various steps involved in installing and then using the app.

As it is shown after installing the app we can create our own user account and then get $CHZ. After that, Fan Tokens can be obtained from an Exchange. It allows the Fans to take part in various decisions and also unlock several rewards. Below is the step by step illustration given on how we can get used to with the app easily.

Now as the app could not be installed, I used the website to give a description of the app. As we open the website, a menu will be appeared that will allow you to discover different viewpoints.
So here down is the brief description

After clicking on the app, we can explore other major impact factors like trading, token hunt, badges and level ups etc.
In the figure given below, Poll is being chosen to explore this specific right given to the Fans.

Here in the Poll section, different decision choices have been given to the Fans depending upon their tokens. Fans can either vote on choosing a song or the Merchandise and other cool features as well.

Then I explore the rewards option. As Fans are allowed to pick their own membership card, they are then able to take part in building polls, merchandise giveaway, VIP meet and greet and many more.

After that, Fan Token is being explores by me. Fan Tokens enable us to position ourselves in the club as a strong Fan.

As shown in the figure above, by using Fan Tokens we can influence team decisions, follow the team and earn from the rewards as well.

Different Fan Tokens can be seen in the following images.

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

As I told you and give the proof that socios app is not available in our region and that is why I was not able to register and progress through with the app, but I am giving the information by an alternative exchange called chiliz exchange.

I have chosen PSG token due to my keen interest in it. PSG token is the abbreviation of Paris-saint Germain Token. It is type of utility token. These token are given to fan of PSG club. It is a tokenize share that directly effect on club decision. When you buy this token, you are eligible to compete with other members which have this token. You can compete with them for rewards. It serves as membership key. This fan token is actually a Cryptocurrency token that are created by different sports teams. When we buy this token we can vote for the decision of club and our vote will have regular influence their decision.
PSG token belongs to France that was created almost a year ago and its trade is done on Chiliz Cryptocurrency Exchange. In socios.com its all about earning the reward points to purchase the Fan Tokens. As we know, it is Blochchain secures so we don’t have to worry. This virtual currency will enable its users to vote on club’s decisions, user experience is enhanced and they also buy merchandise and other stuff.
Binding Polls are being run with in the app whose rules have to be followed. Fans are allowed to take part in these kinds of Polls. These Binding Polls will enable the Fans to give their opinion on a respective point. There are Binding Polls as well as Non-Binding Polls. Apart from voting rights, Fan Tokens also enable the Fans to take part in the membership plan by getting a membership card. This card can be used to purchase merchandise, earn points and get rewards etc.

• The current price for the PSG fan token is given as

• Here is the trading view of PSG fan token on chiliz exchange.

• Here is the total time,price and volume of PSG fan token given in chiliz exchange

• The order that are book are shown here that can be viewed in chiliz exchange.

So the question is how we buy a PSG Fan Token. For that we have to purchase the Ethereum because socios.com is built on Ethereum. Bitcoin can also be used for this purpose. Then, we have to register to an Exchange platform that trades the PSG Fan Tokens. Some Exchanges are Binance, Chiliz and Upbit etc. Then, we have to log in to our account after completing the registration process.
Ethereum or Bitcoins can then be transferred in the account that is set up on the Exchange platform. We can purchase the Fan Token at our desired price by placing a Limit order on the Exchange. The Wallet is set up so that it is compatible with the PSG Fan Token. PSG Fan Token can be taken out from the Exchange into the wallet and the key should be kept in a secret place where no one can access to that.

Conclusion

Socios.com is a relatively new digital platform which enables its users to vote in their respective clubs and teams. There are still debates on choosing this forum but clubs are moving rapidly into this new world of Blockchain. It allows its users to be involved in the decisions of the clubs and also to purchase the merchandise with ease. Socios.com is based on the Ethereum Blockchain which makes it impossible to hack. $CHZ currency is the basis of the socios.com. Sports Industry is largely influenced by the Blockchain in the recent past. So, in my opinion it is good gesture that world in understanding the impact of virtual currency in every field of life. It should be continued in near future as well.

Cc

professor @wahyunahrul