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Socios has joined hands with the National Basketball Association’s Cleveland Cavaliers team. As part of the partnership, the team will be wearing the practice jersey with the logo of Socios starting this season.
Socios has partnered with the National Basketball Association’s Cleveland Cavaliers. Socios is a blockchain-based platform that has tokenized many sports franchises in the world. Socios is a direct-to-consumer platform that uses blockchain technology to provide unique engagement experiences to the sports fans. This is done through fan tokens. The tools provided by Socios will help engage better with fans to the sports franchises. This will also monetize their fan base.
As per the announcement made by Chiliz, one of the blockchain-based sports platforms, Socios informed that the basketball team’s practice jerseys will feature its logo this upcoming season. It is likely to start in the later half of the year.
The platform also informed that it was currently in the review and development phase on fan engagement elements for the team. The platform is referring to tokens or digital collectables by the fans of the team.
Alexander Dreyfus, CEO, Socios and Chiliz said that this partnership is very important and exciting which will eventually lead to fans engagement of the Cavaliers around the world. Socio is developing into a global gang engagement powerhouse, where passive fans are being transitioned into real players in the day-to-day activities of their favourite teams.
Partnerships galore
Socios has signed many partnership deals with basketball franchises. Earlier this month, the firm signed a similar deal with the Boston Celtics for its branding and digital presence. Philadelphia 76ers joined the fan token platform in June.
As part of its expansion plan in North America, Socio has partnered with many United States-based sports teams. The firm is all set to open its regional office shortly. The company has announced its partnerships with the sports teams at a time when the basketball teams in the U.S. and Canada have moved to bring sports deeper into the crypto space.
The Portland Trail Blazers will have the logo of the crypto rewards company StormX on the team jerseys for the next five years. This will be seen in the upcoming season. Canada based Elite basketball league also informed that it has allowed the players from its seven teams to accept a portion of the amount from their salaries in Bitcoin (BTC) commencing this season.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
