Fan token platform Socios extends its partnership with the Argentine Football Association (AFA)

Socios.com has renewed its partnership with the Argentine Football Association through 2026 to help drive Web 3 fan engagement.

Chiliz Blockchain CEO Alexandre Dreyfus made the announcement on Twitter. Socios will also help the Argentine Football Association grow its $ARG fan token and create a token-centric global engagement and rewards community.

The AFA is the latest addition to Socios.com’s ever-growing catalog of world-renowned sporting talent, along with Argentina and Paris Saint-Germain striker Lionel Messi.

Good for the AFA brand, says AFA President

The $ARG token, which was originally released in May 2021, currently runs on the Chiliz blockchain. Fans holding tokens can vote in polls and participate in games and competitions. They will be rewarded for their loyalty with non-fungible VIP experiences, merchandise and free tokens.
Dreyfus said Chiliz is excited about all the opportunities ahead, including the FIFA World Cup in Qatar this year. The AFA President highlighted the importance of the new partnership in generating digital revenue for the future of Argentine football and strengthening the association‘s brand presence.

The AFA ruffled its feathers earlier this year when it signed a five-year sponsorship deal with Binance, which Chiliz claimed was in breach of a three-year contract between the football association and itself. same. Under the original agreement, Chiliz would develop the $ARG token and the league’s name would be changed to Torneo Socios.com during the 2021 football season.

At the time, Chiliz said he was “outraged” by the AFA’s deal with Binance and filed a lawsuit against the AFA to “protect” the rights of fans who already own $ARG tokens. On January 31, 2022, an Argentinian court ruled that the AFA and Torneos y Comptencias must take all necessary steps to ensure that contracts regarding the $ARG fan token, national team sponsorship and naming rights are honored.

Socios.com expands to major football leagues

Socios.com is on a mission to conquer the world of football, making inroads into top leagues in the United States, Italy, Spain, France, England and Turkey. Some of his early conquests were Turkish club Galatasaray Sports Club, French club Paris Saint-Germain, Italian clubs Juventus and AS Roma, English club West Ham United and Spanish side Atletico Madrid. Earlier this year, his deals signed with 26 teams taking part in the US Major League Soccer tournament. According to CoinMarketCap, at press time, the 24-hour trading volume on Chiliz was around $13.5 million, with fan tokens from Paris Saint-Germain and English club Manchester City Football Club having the volumes highest 24-hour trades of $1,332,537 and $967,786. Both clubs won the titles in their respective domestic leagues last season. Socios.com has also dipped its toes into the National Basketball Association and the National Football Leagues in the United States. Fan tokens have drawn criticism that they can be open to market manipulation and that fan voting should not be monetized.

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