What are Fan tokens?

Tokens are generally assets that can represent proof of ownership or even membership. As tokens are already being used for a wide range of purposes, many specialized blockchains have been developed with native intent to support tokens, the most common of which is currently Ethereum and their ERC standard tokens. Socios.com is an app primarily for football (soccer) fans, where users acquire voting rights to influence the clubs they support by acquiring club-specific Fan tokens.

How do Fan tokens work?

Chiliz ($CHZ) is an ERC20 utility token on the Ethereum blockchain that serves as the digital currency for the chiliZ and Socios.com platform. In launching their platform, alongside other sports blockchain ventures, a new category of token has emerged — the Fan Token. Once onboard the Socios.com platform, yet to-be-announced club partners host what has been called a Fan Token Offering (FTO). Fans must purchase $CHZ via a cryptocurrency exchange in order to acquire Fan Tokens. These tokens — which are specific to a team or club — are a finite, digital asset that provide access to an encrypted ledger of voting and membership rights ownership.

About OG

Formed in 2015, OG has been a force to be reckoned with in Dota 2. This is NOT a football club. The OG team is long & dominant at the game’s highest levels. They became the first and only organization to capture victory in The International twice in 2018 and 2019. Going back to back in the 2 largest Esports competitions across any game ever held got the world’s attention, and netted the team over $26.6 million in prize money. Now OG’s ambitions are to create rosters in games outside of Dota 2 and keep growing.