Thirteen NFL Team Partners With Fan Token Platform Socios

Thirteen National Football League teams are set to announce the collaboration with Socios, a fan token platform after the entry of the New England Patriots in NFL crypto deals.

Los Angeles Rams, Miami Dolphins, Baltimore Ravens, Cleveland Browns, Atlanta Falcons, Los Angeles Chargers, Tampa Bay Buccaneers, New York Giants, Pittsburgh Steelers, Philadelphia Eagles, San Francisco 49ers, and Washington Commanders, are the thirteen teams.

The current social token model of Socios is popular in the European Football world. In February, the company and the sport’s governing organization, the Union of European Football Associations (UEFA) together, signed a deal. In addition, the soccer platform also has signed deals with the largest clubs in the sport such as Arsenal, Manchester United, Paris St. Germain, and Barcelona.

Mainly due to regulatory concerns, the launch of any actual tokens is not included in the U.S deals of Socios, unlike in Europe. The teams referred to the deals as “multi-platform marketing” agreements which include Socios-driven fan experiences such as players’ meet-and-greets and in-stadium advertising.

Socios’ CEO Alexandre Dreyfus in an interview called the regulation “an educational process” instead of a concern. Dreyfus further explains that unlike many other countries in the world, the U.S doesn’t have a clear regulatory framework. The CEO says that most organizations are exploring different ways to launch a product perfectly and with collaboration with the league’s teams that’s what they are trying to achieve.

The rules regarding cryptocurrencies in the NFL are quite perplexing since the league issued a temporary ban on all deals that include non-fungible tokens (NFT) and crypto, last September. However, later as a flexibility move, allowed sponsorship deals in March but denied promotion of certain digital assets.

However, that didn’t stop the league or its members from diving into the NFT space. In November, the league experimented with blockchain-based tickets meanwhile players such as Tom Brady have reported exploring their own NFT ventures.

Also, Socios has not limited itself to just soccer and football.

In October, the firm disclosed partnership deals with 24 National Basketball Association teams. It is speculated that the number has reached 28 now.

In context to teams that have yet to explore the crypto assets partnerships, Dreyfus says that he knows no one who is against the technology, “It’s a matter of process. Usually, nobody wants to be the first person, but nobody also wants to be the last.”

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing