SOCIOS.COM TAPS CHECKOUT.COM TO MAKE BUYING FAN TOKENS EASIER

Blockchain-powered fan engagement and rewards app Socios.com has partnered with Checkout.com to manage, process, and support its payment needs globally. 

Socios.com currently has over 1.2 million users and has partnerships with more than 90 major sporting organisations, including major European and South American football clubs, NBA franchises, MMA organisations, Formula 1 teams, cricket teams, and esports organisations. 

The platform offers fan tokens, collectible digital assets, in the form of NFTs minted on the Chiliz blockchain, giving holders special access to perks, rewards, merchandise, and experiences. Fan Tokens are purchased using the Chiliz ($CHZ) digital currency, which can be purchased on the Socios.com app or several cryptocurrency exchanges, including Coinbase and Binance. 

Checkout.com will now be providing a solution for Socios.com’s complex and rapidly growing global infrastructure.  

Béatrice Collet, head of operational business development and global payments at Socios.com, explained: “Fan tokens are an exciting way for sports teams to transform the way they interact with their fans. This has become increasingly important over the past 18 months with people unable to attend sports events and needing new ways to stay connected to their teams. Tokens are viewed as a source of new revenue for clubs — we generated almost $200 million for our partner clubs in 2021 alone.”

Max Rothman, head of digital assets & currencies at Checkout.com, added: “We have a complete suite of payment methods that lower the barrier to entry for millions of sports fans looking to acquire fan tokens. Checkout.com’s substantial domain expertise in cryptocurrency and blockchain technology, supports the payments needs for companies operating in this space. We can ensure Socios.com maximises acceptance rates, enabling fans to join the Chiliz ecosystem and feel closer to the teams they love.”