Sports industry can now link the real-world with blockchain through voting tokens

A proxy solution tokenizing crowd management in sports and beyond.
You are reading about: "Sports industry can now link the real-world with blockchain through voting tokens"

By Diana (Editor)

Published July 5, 2018

The rise of blockchain technology business might have started with fully digital platforms and dApps but non-digital companies are finally catching up.

Last week we already highlighted the reasoning behind NagriCoin deal with the crypto venture fund Pecun.IO shared by the CEO himself.

It was precisely this type of link: A real-world, non-digital startup, in that case agricultural, that still leverages the idea of tokenization.

In the past weeks news flashed through the crypto outlets about this type of real-world tokenizaton arriving to the football industry at last. There is no revolutionary tech, no groundbreaking dApp invention - just a well tested procedure that can be made easier and more democratic thanks to blockchain.

Mediarex: Binance-backed fintech based in Malta

If you are accustomed to the grand, yet totally unfounded promises we often see in blockchain technology, tackling an industry as big as the football business probably sounds a little overextended.

The fintech company behind this blockchain project, Mediarex, is backed by Binance and OKEx though.

According to the official news release both these exchange giants will help to provide the liquidity that is necessary to run a global fan exchange market.

In short, it is not a joke.

The Fan Exchange Model of Socios.com

The project is called Socios.

It tokenizes fan engagement and crowd management of football teams.

  • Tokenized application.
  • Fans buy, trade and execute ‘crowd-manager’ rights for their favourite football teams.
  • Emphasis on scalable throughput and user-friendly app.

Socios is powered by chiliZ platform and $CHZ token. Chiliz is perhaps most known in the gaming community and therefore seems related to esports, but first and foremost it is a voting platform on the blockchain. It is tokenizing democratic decision making, in sports team or elsewhere.

The Socios venture has 20 MM USD from chiliZ to take tokenized football fan engagement into the mainstream.

It has been done before

As novel as it sounds, fan-controlled management frameworks are not new to the football industry. The best known examples may be FC Bayern Munich, Real Madrid and FC Barcelona that are managed by their fan bases in the democratic crowd management manner.

Each of the teams mentioned has from tens to houndreds of thousands affiliated fans participating on the mutual management.

This level of engagement should come as no surprise given how strongly invested most fans feel when it comes their favorite football teams.

Mediarex is no newcomer

Mediarex Sports & Entertainment, the company behind Socios.com and parent company of chiliZ, launched in 2012 and acquired the Global Poker Index still in the same year. That was followed by another acquisition in 2013 - this time the largest live poker database in the world with more than 200,000 events in 95 countries. This made the company a leading digital hub for the poker industry.

Mediarex announced it will present the Socios.com platform at the World Football Summit in September, with a view to announcing their first strategic partnerships in due course.

It is great to see tokenization and blockchain reaching tried and true real world applications that finally have the potential of reaching millions of people rather than just a handful of enthusiasts on Reddit and Telegram chats.


Full Data File: ChiliZ Company Crypto Intelligence in Crypto Intelligence

Presales and promos success, social media presence, location...
We are also on medium.com/cryptolounge - follow us!

Filed under: Intelligence

Blockchain industry brand names mentioned in this article:

*CHILIZ SOCIOS


Data File Of ChiliZ Company Crypto Intelligence

Crypto Intelligence

Presales and promos success, social media presence, locations, related companies...

See The Data File

The Day in Crypto

#CryptoMastery

Data is beautiful

Brand development in forex and crypto: Most expensive domain names [Infographic]

Crypto infographics - Most expensive domain names in forex and crypto. Targeted brand development in forex and crypto with domain names.

Published October 12, 2018 by LK / forexnewsnow
Editor's note: Infographic | Crypto and forex brokers opt for a really crisp domain name.
Tagged as Infographics

Top 8 Women in Blockchain Technology [Infographic]

When it comes to women in crypto, the pre-2016 OG heads will probably come up with names like Alena Vranova and Blythe Masters. Alena Vranova is the former CEO of Satoshi Labs, the company that...

Published November 14, 2018 by Guest
Editor's note: Two OG crypto women that you don't hear much of anymore plus a crypto infographic about 8 women who work in blockchain tech.
Tagged as Infographics

Blockchain Consortium in Trade Finance: 6 Notable Networks [Infographic]

The success of trade finance blockchain implementations depends on how widely they are adopted. That's why we have seen businesses form consortia based on similar interests.

Published October 21, 2018 by Guest

Tagged as Infographics

Comparing Forex Market with Cryptocurrency Markets [Infographic]

One of the few metrics that cryptocurrency markets have in common with the forex markets in 2018 is the high percentage of total trades being located on few most popular markets.

Published June 10, 2018 by Guest
Editor's note: Still a long way to go for crypto markets.
Tagged as Infographics

Blockchain Technology 101: Blockchains, Blocks and the Role of Price [Infographic]

Blockchain technology 101: What is blockchain, what types of blockchains exist and what role does the cryptocurrency price play.

Published July 31, 2018 by Guest
Editor's note: What is blockchain, what types of blockchains exist and what role plays the price of cryptocurrencies.
Tagged as Infographics

Real-world companies that accept crypto payments [Infographic]

Infographic - Graphic map of businesses that let customers pay in bitcoin.

Published May 31, 2018 by Guest
Editor's note: Graphic map of businesses that let customers pay in bitcoin.
Tagged as Infographics

Infographic: Blockchain Hacks & Crypto Trading Platform heists 2018 vs 2017

Blockchain infographic comparing the biggest crypto heists of 2018 and 2017. In 2017 the focus lied more on ICOs, smart contracts and wallet.

Published July 10, 2018 by JMT
Editor's note: In 2017 the focus lied more on ICOs, smart contracts and wallet.
Tagged as Infographics

15 crypto kings that are making history with their engagement in the field of cryptocurrencies

Coining The Bucks With Cryptocurrencies Have you ever wondered how much masters of the cryptocurrencies are worth? Like the guy who founded Ethereum, or the one who started Ripple, for example. The answer, in short,...

Published May 30, 2018 by Guest
Editor's note: Infographic: 15 ultra-rich blockchain entrepreneurs and how they get into crypto
Tagged as Infographics

The Good And The Bad Of ICOs

Infographic: The good and bad of ICOs - Which token sales raised the most money in 2018?

Published May 30, 2018 by Hristina
Editor's note: Despite the DAO failure, ICOs grew into an established form of startup funding.
Tagged as Infographics

How Blockchain Disrupts Business [Infographic]

Published May 31, 2018 by Guest

Tagged as Infographics

How to spot cryptocurrency scams

Published May 30, 2018 by Guest
Editor's note: Infographic by the NOAHcoin team
Tagged as Infographics

All Infographics

Industry News Releases


Comments

comments powered by Disqus
About the Author
By Diana (Editor)

BIO: I'm a nobody and nobody cares. I like researching business models so that later I can fail miserably anyway. Editor at @BOC__Official. ·

Also by Diana (Editor)

Powered by Contentful

AltcoinTrading.NET