Steemit Crypto Academy Season 4 Week 1 | Socios.com - Blockchain Based Platform For Sports Industry
Hello Guys,
This time I would like to give some answers of the homework given by Professor @wahyunahrul.
Happy reading...
1. Explain in detail what is the Socios.com Platform?
Socios.com platform is a blockchain-based fan engagement and it’s one kind of board of fans based on a mobile application that makes fans closer to their beloved club of sport or games, besides fans can interact, influence and at the same time vote for the integrity purposes. However, through blockchain technology, socios.com will assist to get more digital transformation especially for football club or games company. Socios.com generates some fans token to entertain more fans in participate to vote in some club decisions made. The more fans vote and interact with the tokens given, the more rewards they get. Recently, Paris Saint-Germain provides $PSG Fan Token, through this token fans have the opportunity to have personal video call, making a motivational message to their idol team.
2. What are the effects when blockchain has entered the realm of the sports industry??
Every business need customer to earn more income, especially sport industry as it is one of enormous business to managed. Through the blockchain technology, the sport industry could manage and boost their income greatly. The blockchain technology will ensure the engagement of fans will be more accommodated and resulting more income as fans are expected to spend much money to buy souvenirs or products of their favorite clubs.
However, the blockchain is not only helps the growth of sport industry but also it could facilitate the benefit of two parties between sport industry and their fans.
Furthermore, by using the token, the sport industry will be able to manage the non-financial stuff and increase the management capability.
3. Is Socios.com a good prospect as an investment vehicle? Explain your personal opinion along with strong evidence.
In my point of view, socios.com indeed a good prospect as an investment vehicle as it is highly promising investment and there is no competitor yet, especially in sport industry as it is accessible to all people worldwide especially the fans of football club, there is no barrier to access. Meanwhile, digital token will be used as it decreased the transaction cost, perform good quality of services, and prioritise the fans engagement as the profit. According to Socios.com management team, the app has had almost 1.2 million downloads since its launch in 2019. Of those, almost 70% took place in 2021 and generate over $200 million in revenue in the first half of 2021 alone.
Source of Evidance
While during the covid-19 pandemic, many football clubs lacked the income that is usually obtained from spectators who bought tickets during football matches, with the existence of fan tokens, it can be traded for rewards such as merchandise, participate in vote, access exclusive content, or attending home games.
4. Explain the steps to install the Socios application in full and explore the various features in the application. (Screenshot Required).
STEPS TO INSTALL SOCIOS APPLICATION:
- STEP 1
All you have to do is to find “socios.com” app in App store if you use IOS, and Play Store if you use Android. Then start to install by click the GET button or INSTALL button. - STEP 2
After the installation, you will be shown the WELCOME page to Get Started and click the button. - STEP 3
Then you will see the page of Login or Register. Simply fill in your phone number, and click Send Verification Code button. - STEP 4
Next, you will be in the page of Registration. You will be asked to fill in Username and email, then tick Terms and Condition and click the Registration Now button. - STEP 5
Then, you will be asked to fill phone number and verified the code. - STEP 6
Verify your account, they will send an email and simply check your email and click Verify Now button. Then.. you did it..!! Now you can use the Socios.com App.
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EXPLORING SOCIOS FEATURES:
Source
- You will see Home, you will see some categories for football, gaming, motor sport etc. if you click for example Football section, you will see some football team such as AC Milan (ACM) with the price of token the you can start buy or sell whenever you like.
- Next session in Fan Token, you will see token for INTER (Inter Milan), ACM (AC Milan) etc. Fan Token will give you the opportunity to access your favourite football team, get rewards, win tickets and other benefits. The more you get the fan token, the more benefit you will get to access your favourite football team.
- Add $CHZ to your account to get Fan Token by simply click $CHZ, fill the number how much you want to add with USD
- Now let’s see the how to get Fan Token, click $CHZ to your account, ensure how much you’re going to purchase, simply click the number you want to add. Then, it will be appeared in your wallet then. Once you succeed to buy $CHZ you can exchange it to Fan Token. Make sure your payment card available. Then you will go to the Market to get Fan Token and ready to get vote or other activities.
5. Choose a Fan Token in the Socios application and do a detailed fundamental analysis (Screenshot Required)
Fundamental analysis for fan Token of Socios App: BAR
Market cap for BAR: $57.587.718 with 24 hours trading volume $7.727.948 and has circulating supply $3.350.981 BAR coin. Trading volume under $10 million indicates a decrease in the number of coins in circulation. It also known that the BAR token has been downgraded to #502 and fan token down 11% in 24 hours.
If we take a look at the situation recently in Barcelona Club that Barcelona has a problem in the finance, lead to give up on Messi and trying to revenue financial debt. The debt now above 1 billion euros, and the management is trying to fix the condition of the club.
6. Conclusion.
The socios.com platform is a new breakthrough for sport lovers as it is engaged between fans and sport club especially football. The technology innovation brings income improvements to the clubs and accountable management strategy. Socios.com platform also provides many interesting features for fans to interact directly and influence the decisions making at the club that they idolize.
CC: @wahyunahrul
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