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NBA 76ers joins fan token platform Socios

NBA 76ers joins fan token platform Socios

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Source: Coin Telegraph

The platform has previously partnered with an NHL team as well as the UFC, but this is the first time an NBA franchise will integrate its branding.

Socios, the blockchain-based platform responsible for tokenizing many popular sports franchises, has said the Philadelphia 76ers basketball team will be joining its roster.

In a Thursday announcement from Socios, the platform said as part of the partnership the 76ers, or the Sixers, will integrate branding from the fan token site across the physical and digital space. Socios will appear on screens in the team’s home venue, the Wells Fargo Center in Philadelphia, as well as on its website and social media.

Alexandre Dreyfus, CEO of Socios and blockchain-based sports platform Chiliz, said this was the first time the platform had partnered with a National Basketball Association franchise. He hinted basketball fans might see fan tokens for the Sixers as part of the firm’s goal of “transitioning passive fans into active fans.”

In addition to the NBA team, the NHL’s New Jersey Devils announced a similar marketing partnership with Socios in April. The platform has said it will launch fan tokens for the Ultimate Fighting Championship and Formula 1 racing teams Aston Martin Cognizant and Alfa Romeo Racing on the Chiliz blockchain.

Related: Socios to launch fan token for major Ukrainian esports organization

While Chiliz through Socios has formed partnerships with major names in sports to release fan tokens, Dapper Labs’ NBA Top Shot has the backing of prominent basketball players including Michael Jordan, Alex Caruso, and Kevin Durant. As of March, the digital collectible platform had reportedly grossed $483 million in sales with more than 802,000 users.

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Author: Turner Wright