Today (November 28th) we welcome the start of a new era for sports and entertainment fans. The first Fan Token Offering (FTO™) for our blockchain-based fan voting and rewards platform Socios.com is open and payments are live. Serie A champions Juventus are the first football team in the world to be tokenized.
This follows the announcement in late October that we had successfully minted 20,000,000 $JUV (Juventus) Fan Tokens on our permissioned PoA (Proof-of-Authority) chain in block #345511. The supply of Juventus Fan Tokens is limited to 20,000,000, and once they are all sold, no more will be produced. A significant number of the total 20,000,000 supply has already been made available for purchase in the FTO.The launch price of each individual $JUV is around €2, depending on the exchange rate for $CHZ at the time of purchase; the price of $JUV will fluctuate according to supply and demand once the marketplace feature is launched, and Fan Tokens can be traded by fans.
Users have been depositing $CHZ for several weeks now, but as of yesterday (November 28th), when the in-app payment function was first launched, we saw users from all over the world using fiat payment methods to purchase $CHZ in anticipation of the Juventus FTO. Although we have already achieved nearly 30,000 Android-only downloads in just a few weeks, these first transactions, where fans are buying $CHZ, represent our first real customers.
It’s taken a huge amount of hard work, but we are pleased to say that we are very much on track as we enter the most significant period of growth in our history. While we are still very much in a testing (and fixing bugs) phase, this is a key milestone in our mission to become the biggest and best consumer-facing blockchain app in the world and we are confident that we will surpass our Q1 target of 100,000 registered-users, making our 2020 year-end target of 1 million very realistic.
Hitting these targets will be the first completed goals of a much longer-term mission to fully realise the huge potential of Socios.com. We understand that we are embarking on a multi-year process that will require patience, a lot of education and even more hard work!
As previously communicated, we will start FTOs for Paris Saint-Germain and Atlético de Madrid in late January, before subsequent FTO’s for Galatasary and A.S. Roma take place in February. The FTO for our esports partner OG will take place in March.
As well as the seven initial partner clubs, Socios.com has a pipeline of dozens of clubs ready to join the platform; several leading football clubs and teams from other sporting verticals may be announced before the end of 2019.
The app is available to download for Android and iOS users can apply for a beta version of the app through Testflight.
We thank the Chiliz community for their continued support of our vision and product. If you have any questions, join our Telegram: https://t.me/chiliz_io
Thanks for reading!
– Chiliz Team