Missed Alex’s First Keynote of 2020? Here’s All You Need To Know

Our first live keynote of 2020 was intense. In case you missed it, we’ve pulled together all the key information for you, including the launch of our world-first crypto exchange for sports & entertainment, a new club partnership, updates on Token economics, non fungible tokens, Socios United, strategic expansion and much more.

We’ll be two years old in a few weeks

On February 7th, it will be exactly 2 years since  we published our first white paper, and announced our mission to create a fan engagement and rewards platform. 

We’ve grown rapidly in that time, and as our initial proposition has evolved, so has our team. We are now 60+ people, spanning 24 nationalities, working from a bustling head office in Malta with additional locations around the world in places such as Korea, Singapore, China, Buenos Aires, London and France.

In a relatively short period of time we’ve built a strong, well-structured company with an experienced team of professionals from diverse industries such as gaming, media, sports betting and the sports industry. 

One person who has been instrumental in that growth is Emma Diskin, who’s just been promoted to COO. As will become clear as you read on, we’re far from done, which means there are a number of career opportunities available that can be checked out on chiliz.com/careers

Travels in Asia & strategic growth

In the last keynote, Alex revealed that he would be travelling throughout Asia in order to explore new opportunities for the company. Over a 2-month long period, Alex met with key investors and potential partners throughout the continent, spending time in countries such as Korea, China, Singapore, Japan and Indonesia.

Asia is responsible for 50% of all trading volume on crypto exchanges. It’s without doubt the continent where there is the most significant appetite for what we do. Alex’s trip was profitable, not in terms of finance in the immediate sense, but in terms of laying down the foundations of a strategy for 2020 and finding a huge number of partners who are excited by our project and want to be involved. 

It also led to the hiring of  Brian Hyunmin, formerly part of the team within Klatyn of Ground X, as Managing Director for Chiliz in South Korea with direct responsibility for business development within the country.  We’ve also got an office in Singapore, which will be responsible for trading and hiring Chinese native speakers. More on this next…

 

Chiliz.net – The world’s first crypto exchange for sports & entertainment

One thing that has become abundantly clear to us is that there is a huge appetite for $CHZ and Fan Tokens in the trading space, so we decided to create our own trading platform for $CHZ related assets and our branded digital assets.

Chiliz.net is a first-of-its-kind crypto exchange for sports & entertainment products. Available now on desktop, iOS and Android, a full launch will follow next month when the Fan Token Offerings  (FTO™)  for all the Socios.com partner teams begin.

Fan Tokens for Juventus ($JUV), Paris Saint-Germain ($PSG), Atlético de Madrid ($ATM), A.S. Roma ($ASR), Galatasaray ($GAL) and West Ham United ($WHU) will be available on Chiliz.net to buy and/or sell from the end of February, as well as available to purchase on Socios.com. Fan Tokens for esports giants OG ($OG) will be available from March. All Fan Token trading is paired against $CHZ. The exchange features traditional crypto pairs such as BTC/USDT and more, with more to come to bring liquidity. 

Chiliz.net will be fully integrated with Socios.com, meaning that Fan Tokens currently held in a Socios wallet can be transferred out. Any Fan Tokens bought on Chiliz.net can also be transferred in. 

A key thing to mention about Chiliz.net is that there will be a built in API that will allow fans to follow the rise and fall in Fan Token prices, in the same way that regular crypto traders do now on platforms such as Binance. In this way, we’re creating a brand new narrative, where a club or a team’s activities on the pitch for example can have a bearing on the price of a certain Fan Token. Let’s say, for example, Kylian Mbappe were to sign a new 5-year contract with Paris Saint-Germain, this could have a knock-on effect that could see the price of $PSG Fan Tokens rise or fall based on market & fan sentiment.

It’s also important to mention here that the trading app is now live on iOS. While there may have been a  few questions about why we’ve not yet launched Socios.com with Apple, the fact is the issue was around education and a misunderstanding on Apple’s part that our platform was solely collectibles based.  The launch of Chiliz.net proves that Fan Tokens are real tradable assets. We now expect to launch Socios.com on iOS by the end of Q1, with additional features.

Chiliz.net also opens up a whole new world of opportunities for us in terms of affiliation. Our goal is to have thousands of crypto related media, bloggers, video bloggers all promoting Chiliz.net through the new media driven narratives Fan Tokens will create. 

 

$CHZ Token Economics 2.0

So, this is a big piece of news. We promised that we would look into improved Token Velocity for $CHZ and now that we have launched Chiliz.net we can reveal that we are making plans for the following:

  • 20% of $CHZ net trading fees collected will be burnt by Chiliz.net exchange
  • 10% of $CHZ net collected by Chiliz.net during FTO’s to be burnt + locked for 3 months. 
  • 20% of $CHZ ($) collectibles to be burnt.

NB: this will be reviewed on July 1st 2020. 

From one reveal to another. You noticed collectibles above, right? Find out more about our plans for Non Fungible Tokens below.

Non Fungible Token & Collectible Strategy

Improving and expanding the utility of $CHZ forms a key part of our strategy for 2020 and beyond. One of the most important ways in which we will start doing this is through collectibles and we have a three pronged approach.

First…we’re partnering with SoRare.com – a fantasy sports game that’s already got 30 clubs on board (target is 100 clubs) that will enable users to play games with $CHZ. Increasing access to these gamified ventures through $CHZ is something we’ll be able to reveal more on at the end of Q1 & in early Q2. 

Second… we’re going to create licensed collectibles pegged with $CHZ. For instance, using Juventus as the example club again, we could create a Champions League Winners Token if they were to triumph in Europe or a Ronaldo token. We’ll be able to sell these limited availability Tokens against $CHZ and, as mentioned above, 20% of $CHZ fees collected will be burnt.

Third… we are exploring the tokenization of rewards & unique experiences, with purchases again pegged in $CHZ.  We want fans to be able to purchase such tokens and make them fully tradeable in an open marketplace and we’ve got exciting ideas on how to leverage this for both crypto and sports communities.

We’ve partnered with some big NFT collectible  platforms in the marketplace to support this vision and there’ll be more on all of the above soon.

Socios.com feedback & features

Juventus first poll

The best place to start in terms of looking at recent feedback is with the launch of the Juventus FTO and the first poll on the Socios.com platform to determine a new goal celebration song for the Serie A giants.

The Juventus poll generated 3,000 votes, a significant number for the first ever poll to take place, with the results revealed live at the Allianz Stadium before Juve’s first home game of 2020 at the Allianz Stadium.

Fans opted for Blur’s Song 2 as their choice and were able to hear the song played out 4 times as Ronaldo scored a hat-trick in a 4-0 victory over Cagliari.

This was our first full cycle from launch right the way through to delivery of the results of the first poll and we took away some key learnings, which will put us in a better position for future polls with Juventus and for similar cycles with other partner clubs.

For Juventus, the successful delivery of this first poll is a compelling proof of concept that’s made them hungrier than ever to deliver even more in the future.

Bugs & surveys

The earliest version of the Socios.com app went live in November and since then we’ve had  71,000 downloads and an average of 2,000 – 4,000 daily active users engaging with the app.

During that time the app has evolved significantly as we’ve refined, fixed and optimised the platform. It’s much better now than it was in November for sure, but this is an ongoing process and the app will continue to improve as the months pass.

Early adopters have actually played a big part in helping us optimise during these early days and their feedback has been crucial so a big thanks goes out to them!

We also held a survey of 1,500 users which provided us with some really useful data that will allow us to better understand the kind of features users crave and what is most relevant and important to them.

New features Q1/Q2/Q3 – Chat, Transfers & Trading

By the end of Q1 we should launch 3 exciting new features. We’re aiming to launch a beta version of our in-app ‘chat’ in a couple of weeks and we’re really excited about it. While social media forums, message boards and the like will continue to be subjected to trolling and other unwanted intrusions, our chat function in Socios.com will be the exclusive preserve of Fan Token holders. That means token holders will be able to chat with one another in secure forums, confident they are engaging with real fans.  

Other features set to land in Q1 will be Marketplace, which we have referenced before. Marketplace will allow fans to sell & buy Fan Tokens with other users directly in the app. We’ll also have the addition of transfers, allowing the movement of $CHZ and Fan Tokens between Socios.com and Chiliz.net.

In Q2, we’ll continue to build community features with the addition of in-app games and challenges, as well as adding collectibles too (referenced earlier).

We will also launch a web version of Socios.com, where fans will be able to buy, sell, trade and vote just like on the app.

Initial plans for Q3 that we can talk about now include adding more payment options for $CHZ, increasing access to merchandise with clubs, direct mobile integration and a non-custodial wallet (decentralised wallet & services).

Second phase of FTO’s – Definitive dates

And here they are… the definitive dates for the second round of FTO’s to begin starting next week can be seen below.

New club announcement!! Club Atlético Independiente join Socios.com

We can reveal that our new partners and the first South American club to join the Socios.com platform are Club Atlético Independiente

A very warm welcome to El Rojo! The Argentinean club has an incredibly proud history and is the 3rd most decorated team in international club football history.

Independiente have announced the partnership via their channels today and we’re already seeing a very encouraging response from fans.  Indeed, there would seem to be early parallels with the responses we’ve seen from fans in Turkey where the fans are incredibly passionate.

We’re speaking to clubs throughout South America, targeting those passionate fanbases in countries like Brazil and Mexico and will look to increase our presence significantly there.

Our Brand Partnerships team are working hard across the world to find great new club partners for Socios.com and we want to have 50 IP’s on the Socios.com platform by the end of 2020.

In the next 10 days to 2 weeks we will announce another major partner in the sports industry and that is definitely one to be very excited about.

We’ll also be adding a new esports partner in the very near future that are as big as OG with more to follow after that.

New sports, new verticals & new markets – 2020 will be the year Socios.com goes truly global

While we can’t reveal everything about our plans, we can say that we’re very close to adding a massive cricket team to our roster. As well as cricket, we’re speaking to baseball teams and clubs from other big sports too.

We’re also having very active conversations in the entertainment industry, with K-pop in Korea and major music artists in the US & Europe.

In terms of new markets, the green light to go ahead in Germany has been given and we’re also very close to getting the thumbs up to go ahead in the US. We’re also looking to consolidate some of the excellent relationships we have in the Middle East, especially in soccer.

Socios United – $SSU

What is Socios United? 

Socios United is a tokenized partner on the Socios.com platform, which functions via branded Fan Tokens which are made available to users, who in turn use their ownership to participate in polls conducted by this partner. 

The only difference is that, instead of representing a partner such as a football team (Juventus, Paris Saint-Germain, etc.) or an Esports team (OG, etc.) – Socios United represents us A.K.A. the Socios.com app itself, using our own branded Fan Tokens – SSU Fan Tokens.

How will obtaining SSU Fan Tokens work? 

We understand that in creating a ‘partner’ presence for ourselves on the Socios.com app, we will need to amend the normal rule sets for how our Fan Tokens work – specifically how they are attained – in order to avoid any possible conflicts of interest. As such we will be enstating the following parameters for Socios United as a partner, and SSU Fan Tokens as the underlying digital utility which will be made available to users in order to participate: 

  • RATIO: SSU Fan Tokens will be made available to users at a 1:1 ratio with Chiliz ($CHZ) meaning that you will be granted 1 SS Fan Token in exchange for 1 $CHZ. 
  • OWNERSHIP CAP: SSU Fan Token ownership will be set at exactly 1 SSU Fan Token – meaning you can either have 1 SSU and thus have access to our partner polls, or zero SSU Fan Tokens, meaning you’re opting out of participation.
  • VAULT: Exchanging 1 $CHZ in order to obtain 1 SSU Fan Token DOES NOT CONSTITUTE A SALE. What does this mean? It means that, in essence, we are simply holding the 1 $CHZ you’ve exchanged in order to receive your SSU. If (after a TBD length lock period) you’d like to return your SSU Fan Token and receive your 1 $CHZ back – you will be able to do so directly from the Socios.com platform. 

Why use SSU Fan Tokens and not Chiliz ($CHZ) directly? 

CHiliz tokens exist on the Ethereum chain, they are a currency. Meanwhile, the voting mechanisms we’ve developed in order to give the Fan Tokens generated in Socios.com – and indeed the Fan Tokens themselves – exist on Chiliz private Proof of Authority chain. 

In addition to this core division between $CHZ and Fan Token utilities, the use of SSU Fan Tokens can also be used as an effective educational tool to show how $CHZ can be exchanged for a digital asset in Socios.com (Fan Tokens) in order to obtain the power to vote, and to interact with a partner on this platform. 

What is the future of Socios United? 

As an opening utility, we will use Socios United as a partner to actively and freely engage with our user base on the Socios.com app. We will ask questions relating to improvements, feedback, bug fixes, etc., questions relating to our existing (and potential new) partners which we would otherwise not be able to ask directly on their behalf/ using their own Fan Token polling, and also to directly engage with users via trivia and other ‘just for fun’ activities. 

As we develop this partner further – the future of Socios United will hopefully also entail the creation and eventual fully fan-led management of a Socios.com owned organization – whether its an esports team, the creation of a Socios.com Awards Ceremony or etc. remains to be seen – as we would like YOUR HELP in order to decide where we go. Fundamentally the Socios United Partner is an added value proposition for Socios.com app account holders and a reason for our users to engage with the app, NOT an additional revenue stream for us. 

Socios United (SSU) is our feature to allow $CHZ holders to have a direct say in Socios.com, and it will also include a ‘SSU Fan Token Holders Only’ (aka $CHZ token holders) private chat feature as well. 

Qatar Airways Co-branded Collaboration & Sponsor Partnerships

The biggest sports teams in the world attract sponsorship from huge business entities, but the fact is that often, other than traditional offline and online advertising, these companies are at a bit of a loss as to how to better leverage these club partnerships with consumers.

As our entire reason for being is to increase engagement betweens fans and their clubs, we’re becoming a very attractive option for major club sponsors looking to reach fans.

We’ve just been given the green light to go ahead with A.S. Roma shirt sponsor Qatar Airways, on a co-branded collaboration to engage Roma fans and we’ll be working on that over the next couple of months.

Our ability to drop Fan Tokens anywhere through Token Hunt creates interesting opportunities for future brand partners of Socios.com. For instance, let’s say Nike want to do a major promotion at a Paris Saint-Germain game… we could drop $PSG/ $CHZ outside their city store, or a promotional zone near the stadium.

In the not too distant future many of the world’s biggest companies could be working directly with Socios.com, creating more brand exposure for them and, of course, for us, too.