Turkish Professional Football Club Set to Launch its Fan Token on Socios.com

The professional Turkish football club İstanbul Başakşehir is planning on introducing its own fan token by the end of the present year. Called IBFK, this fan token will be launched on a blockchain-based voting application called Socios.com.

As per an announcement, the football club has formed a partnership agreement with Chiliz, a leading blockchain fin-tech provider. İstanbul Başakşehir will launch its fan token in collaboration with Chiliz. The club plans to release its token by the end of December 2020 and it will be made available to users by this time on blockchain tech-enabled fan rewards and voting app Socios.com.

The token holders of Fan token will be able to enjoy various engagement opportunities such as club decisions, discounts related to the club, and voting in polls via the socios.com app. Moreover, there will also be an opportunity for IBFK token holders to earn points that they can use for winning VIP game tickets.

Alexandre Dreyfus, the Founder and Chief Executive Officer (CEO) of Chiliz and Socios.com said that İstanbul Başakşehir has become their 18th partner overall and the third Turkish club partner.

“As our roster of clubs grows, so does the overall network effect of these partnerships. That means the sharing of technological innovations and, ultimately, a stronger all-round product with better features for fans leading to increased revenues for all of our partner clubs,” he added.

Chief Executive Officer (CEO) of İstanbul Başakşehir said that they share a lot of common things with Socios.com as they are energetic, young, and successful. Adding more to it, he said that they intend to work further with socios.com to offer “innovative and fun ways for our new, fast-growing global fan base to get to know and engage with us better.”

It is the third Turkish football club that is planning the launch of its fan token. Trabzonspor and Galatasaray have already launched their fan tokens.

Chiliz has also recently made a partnership with another famous football club FC Barcelona. An amount of $1.3 million was raised in token sales by the club within the duration of just two hours. In addition to this, Juventus made a partnership agreement with Chiliz at the beginning of this year for launching its fan token.

Author: MubaShar Nawaz
MubaShar Nawaz is an experienced writer working for TheForexPro.info. Having passion for writing, he covers news articles from the finance and trading world.

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