Question 1

What are Fan tokens?

Accepted Answer

Fan Tokens allow fans across multiple sports verticals to exercise their share of influence within their favourite teams/leagues/clubs. Through Socios.com, fans empowered to participate in certain club decisions, for example, choosing a goal celebration song in a football stadium, choosing which fighters should go head to head in MMA and more. Thanks to Fan Tokens, holders receive access to once in a lifetime experiences such as player meet and greets, training day events & much much more.

The growing list of partnerships launching their Fan Tokens on the Socios.com platform include some of the biggest sporting organizations in the world such as FC Barcelona, Inter Milan, AC Milan, Manchester City, UFC, ROUSH Fenway Racing, Aston Martin, just to name a few.

Question 2

How do Fan tokens work?

Accepted Answer

[Chiliz ($CHZ)](https://coinmarketcap.com/currencies/chiliz/) 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](https://coinmarketcap.com/alexandria/glossary/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.

Question 3

What is Chiliz Chain?

Accepted Answer

Fan Tokens are minted on an EVM compatiable permissioned sidechain called Chiliz Chain. Chiliz Chain does not currently require any transaction fee, making the sending and receiving of Fan Tokens fast and inexpensive.

Chiliz have future plans to upgrade the Chiliz Chain to position themselves as a leader in sports blockchain space, potentially making way for the minting of NFTs, staking & much more.

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