Steemit Crypto Academy - Season 4 Week 1 - Homework post for @wahyunahrul
Hello everyone.
Hopefully, all of you will be good and happy with the time and I pray for your happiness and success. This post is actually the homework for dear sir @wahyunahrul in Season 4 of Steemit Crypto Academy. Today, our topic of discussion is Socios.com - Blockchain-Based Platform For Sports Industry.
The professor has explained the basics of this topic in his lecture post in a very great. So, let's start our task without any wastage of time.
There are some questions that are asked by the professor as the assignment for this week. So, I will describe all the questions in the given order.
(01)
Explain in detail what is the Socios.com Platform?
As we all know that the blockchain technology is developing very fast in the digital world. As well as the concept of decentralization is also affecting various fields of life. Almost, all the sectors of life are starting effecting by the development of blockchain technology. Blockchain technology has an equal effect on the sports field also. Yes, cryptocurrencies also have an effect on the sports field.
Socios.com is a platform that creates a link between sports and cryptocurrencies. Chiliz project was the founder of this amazing platform. Chiliz is well known and one of the most popular Ethereum projects that run on the Ethereum Blockchain and there are several ERC-20 tokens that are found there.
As we all know that there is a large gap between the fans of the sports and the clubs that manage these sports. So, Socios.com plays a very important role in bringing these two things (Fans and Clubs) closer to each other along with the involvement of the cryptocurrency.
Socios platform allows its users to remain in touch with their favorite teams and clubs and give their precious advice and recommendations to the clubs and teams. The main sport which is linked with the Socios platform is football. However, many other sports like Cricket, Fighting, Basketball, Cricket, etc. But the main concern is with football. There are many clubs that are sponsored by this platform. They are specific ERC-10 and ERC-20 tokens for different clubs and teams that are staked over by their fans. The fans of a particular club can get an opportunity to get involved in the club decision-making events. Socios is partners directly with the clubs so the fans can give their recommendations and linkings about their favorite clubs by utilizing these tokens. The main token of the Socios platform is the CHZ token. And every club has its own fan token which is bought by the fans of the respective clubs.
Features of Socios.com
Fan Token: The main and the most important feature of the socios.com platform is the Fan Token. Different clubs issue their Fan Tokens that are bought by their fans and are utilized by the fans to take part in the decisions of the clubs of their likings. These tokens have specific prices in different markets and can be traded also.
Polling Feature: Another important feature of the socios platform is the polling system. In the socios platform, the fans can take part in the voting and selection of the decisions of the particular fans. Only the fans that have the token of that club can take part in this polling. The jersey, kit, anthem, song, captain, sub-captain, etc of the clubs or teams are the things that are selected by this polling.
Rewards Features: The fans that are holding the fan tokens of a particular club can get rewards from that club in the form of supporting team shirts, player meetings, player calls, and many more. So, this is also another interesting feature.
(02)
What are the effects when blockchain has entered the realm of the sports industry?
The entry of blockchain technology in the sports world is really very amazing and leaves a very great positive effect on the sports field. By the Socios platform the clubs can directly involve their fans and they can notice the voices of their fans and by keeping in mind the demand of the fans, they can make better decisions for the popularity and progress of the club.
The involvement of the blockchain in the sports industry and also increase the knowledge of cryptocurrency in the public of football. The fand of different clubs can purchase the tokens issued by their favourite clubs and store, trade, and utilize their tokens at various places for a better experience.
Blockchain technology has also increased the security and privacy of the fan tokens. Corruption and other illegal habits can be restricted by the entry of blockchain in the sports industry. Blockchain technology also helps teams and clubs to enhance their digital skills by providing a safe and secure platform to the stakeholders of the crypto assets.
(03)
Is Socios.com a good prospect as an investment vehicle? Explain your personal opinion along with strong evidence.
Socios.com is the first-ever platform that links sports and blockchain technology together. In my opinion, the Socios.com platform is a wonderful opportunity for crypto lovers as well as sports lovers to invest their assets.
The population of the Socios platform is increasing day-by-day and this thing will also affect the prices of the fan tokens positively.
In the coming years, the Socios platform seems to be the best sports-blockchain collaborated platform that allows the fans to get directly involved in the decision-making processes of their favorite clubs.
Keeping in view the following facts and pieces of evidence, the Socios platform is a good prospect as an investment vehicle in the world of crypto-sports.
(04)
Explain the steps to install the Socios application in full and explore the various features in the application. (Screenshot Required)
As I have discussed the explanation of the Socios platform in the above sections. So, I will discribe the method to install the socios app and use it in this segment. So, follow these steps.
- First of all open the app store. I have android phone so I will open the Play Store.
- Now, Install the Socios application by clicking on the Install option.
- After the completion of installation process, click on the Open option to open the application.
- Now, a loading window will appear in the screen, as shown in the below screenshot.
- This application is not allowed in our country (Pakistan). So, I am unable to do the next procedure because I seen the following page.
I have tried many times but the error was same so I am not able to show you the next procedure. However, from the professor's post, I got that after the opening of application, there will comes the verification process. The user have to provide the phoen number and e-mail to get the verification code. After verifying the verification code, users can enjoy the amazing circumstance provided by this platform. One can buy the Fan Tokens of his favourite team or club and vote for his likings.
(05)
Choose a Fan Token in the Socios application and do a detailed fundamental analysis. (Screenshot Required)
As I have told you before that the Socios application service is not available in our region. So, I am not able to explore the fan token in the socios platform. However, I will try my best to explore the $PSG Token without entering the Socios application.
Intro:
$PSG stands for Paris Saint-Germain Fan Token is the fan token of one of the most famous and successful club of football known as Paris Saint-Germain Club. The main reason of the popularity of this club is the presence of the most famous player of football, Messi.
This fan token is available in the Socios platform and is sponsered by the club. The Socios platform acts as a linking material between the fans of this club and the management of the club. The fans can buy this token and utilize this token for the accomplishment of the decision-making process. They can utilize this token in the Socios to take part in the polling of the club. They can directly say their voices to the club management teams and vote for their likings and recommendations.
Market Overview:
$PSG is one of the most growing tokens of the Ethereum blockchain. The market position of this token according to CoinMarketCap is shown in the screenshot below.
This can also be represented in the form of tabular data as follow...
| Name | $PSG |
|---|---|
| Current Price | $30.77 |
| High (24h) | $32.97 |
| Low (24h) | $29.66 |
| Rank | 408 |
| Market Capitalization | $89,294,510 |
| Fully Diluted M.Cap | $614,481,456 |
| Current Volume | $42,236,856 |
| Circulating Supply | 2,906,337.00 PSG |
Available Exchanges:
The exchanges that allow the exchnage and trade of this token are shown in the screenshot below ...
So, these are some basic information about the $PSG token.
Final Words
Blockchain technology is start showing its impact in all the fields of the daily life and sports fiels is also in-touch with the blockchain technology. The entry of blockchain technology greatly effected the sports field financially as well as other reasons.
Socios platform is the first-ever platform that links the cryptocurrency with the sports world. The presence of the Fan Token in the platform and the utilization of the Fan Token to get involved in the polling of the clubs about different decisions is really superb achievement. This thing has made the fans and the clubs or teams, closer to each other and the fans can get opportunity to directly involved in the decision-making events by utlizing and storing the Fan Tokens.
So, that's all about the homework for this week. Hopefully, all of you will like this post.
Thanks to all of you for stopping by...
Writer: @steemdoctor1(Crypto Student)
