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Summary
- Fan tokens represent proof of ownership or membership, used for various purposes.
- Socios.com is an app where users acquire voting rights by buying club-specific Fan tokens.
- Chiliz ($CHZ) is an ERC20 utility token on Ethereum, serving as the digital currency for the chiliZ and Socios.com platform.
- Fan Tokens are finite, digital assets providing access to encrypted ledger of voting and membership rights ownership.
- Galatasaray Sports Club was founded in 1905, with 22 Turkish Super League titles and UEFA Cup & Super Cup wins in 2000.
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Numbers and figures:
- 1905: Founding year of Galatasaray
Introducing the Galatasaray Fan Token: A Revolutionary Way to Empower Fan Engagement
Fan Tokens: A New Era of Fandom Engagement
Tokens, in essence, embody assets that signify proof of ownership or membership. As their utility has expanded to encompass a broad spectrum of purposes, numerous specialized blockchains have emerged, primarily designed to support tokens. Notably, Ethereum, with its ERC standard tokens, has emerged as a prominent platform for token creation. A compelling illustration of this concept is Socios.com, an application tailored for football (soccer) enthusiasts, where users can acquire voting rights to influence the clubs they support by purchasing club-specific Fan tokens.
Unveiling the Mechanics of Fan Tokens: A Comprehensive Overview
Chiliz ($CHZ), an ERC20 utility token built on the Ethereum blockchain, serves as the digital currency for the chiliZ and Socios.com platform. With the launch of their platform, alongside other sports blockchain ventures, a novel category of token has emerged: the Fan Token. Upon joining the Socios.com platform, yet-to-be-announced club partners will host a Fan Token Offering (FTO). To acquire Fan Tokens, fans must first purchase $CHZ via a cryptocurrency exchange. These tokens, specific to a particular team or club, constitute a finite, digital asset that grants access to an encrypted ledger of voting and membership rights ownership.
About Galatasaray University’s Blockchain Research Center
Founded in 1905 by students of Galatasaray Lycee in Istanbul’s vibrant Beyoglu district, Galatasaray Sports Club has since become an iconic institution. With their bold yellow and red hues and a reputation for tenacity on the pitch, the club has aptly earned its moniker – the “Lions”. Boasting an impressive 22 Turkish Super League titles, including their most recent triumph in the 2018-2019 season, Galatasaray stands as the only Turkish club to have claimed the prestigious UEFA Cup and Super Cup, achieving unparalleled success in 2000.