PFL IS FIRST LEAGUE & US BODY TO LAUNCH FAN TOKEN ON SOCIOS.COM

Today, the Professional Fighters League (PFL) will become the first sports league to launch a Fan Token on Socios.com. 

In addition to being the first league to launch a Fan Token on the Chiliz-owned engagement platform, it will also be the first US-based organisation to go live on the platform. 

$PFL Fan Tokens are scheduled to launch on Socios.com at 17:00 CET (08:00 Pacific Time), with the initial 250,000 priced at $2 USD each. After that, tokens will be subject to market driven prices. 

Fan Tokens will give owners access to PFL-related promotions, games, competitions, augmented reality features, chat forums, and the opportunity to influence the PFL directly through polls. 

The first PFL poll is scheduled for 9 April, and will see Fan Token holders get to choose which fight will headline the main card at PFL 1 when the regular season resumes on 23 April. The event will take place at Ocean Casino Resort Atlantic City, and will be broadcast live on ESPN2/ESPN + in the United States, and shown in over 160+ countries.

Staying with Socios.com, earlier this month English Premier League football club, Manchester City, launched its own Fan Token on the platform. 

AYO.NEWS says:

This is a pretty big deal for Socios.com, representing the first sports league to launch a Fan Token, but also, probably more importantly, giving the platform its first real foothold in the United States. 

However, though Fan Tokens do seem best described as Utility Tokens, Chiliz has stressed to US users that Fan Tokens “are for entertainment purposes only and are not financial or investment instruments”, and a limit of $250 USD per 24 hours for purchases and withdrawals has been set, given how muddy the waters are when it comes to tokenisation stateside, we wouldn’t be surprised to see the SEC or individual state regulators chime in at some point.