New England Patriots Partner With Fan Token Site Socios

The NFL team is dabbling with something that had been a European football phenomenon until now.

AccessTimeIconNov 12, 2021 at 4:53 p.m. UTC
Updated May 11, 2023 at 5:47 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The New England Patriots are partnering with Socios in a deal that could lead to the National Football League’s first fan token.

The U.S. football team announced Friday it made the first NFL deal with Socios, a platform with an established presence in the European soccer world. Big-name clubs including Juventus, Paris Saint-Germain and FC Barcelona all have their own tokens on the site.

  • FC Barcelona to Create Its Own Cryptocurrency and Metaverse
    04:30
    FC Barcelona to Create Its Own Cryptocurrency and Metaverse
  • Meta’s $10B Loss in Metaverse Business Sending Ripple Effect Across Sectors
    05:13
    Meta’s $10B Loss in Metaverse Business Sending Ripple Effect Across Sectors
  • Meta’s $10B Loss in Metaverse Business Sending Ripple Effect Across Sectors
    05:13
    Meta’s $10B Loss in Metaverse Business Sending Ripple Effect Across Sectors
  • Philadelphia 76ers President on Crypto Ad Patch Deal With Crypto.com
    09:28
    Philadelphia 76ers President on Crypto Ad Patch Deal With Crypto.com
  • Socios made its foray into the American sports market in October when it announced partnerships with 24 National Basketball Association (NBA) teams. However, U.S. securities laws are seen to be a potential hurdle for tokens promising rewards for sports superfans, along with league-wide partnership implications. No such tokens have yet to launch in any of the major U.S. sports leagues.

    “‘Patriots Fan Predictions, presented by Socios.com,’ will reward New England fans with prizes for correctly answering five matchup-related questions during each week of the [football] season on Patriots.com and the Patriots mobile app,” was as much as a Friday press release would specify.

    The deal with Kraft Sports + Entertainment also includes Socios’ first partnership with Major League Soccer (MLS). Robert Kraft is the owner of both the New England Patriots and New England Revolution soccer team.

    Chiliz (CHZ), the crypto token that powers the Socios platform, jumped sharply on the news, according to data from CoinGecko.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Eli Tan

    Eli was a news reporter for CoinDesk. He holds ETH, SOL and AVAX.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.