Thirteen new teams are collaborating on the fan token platform Social.com, as NFL continues to release sponsorship restrictions associated with crypto and blockchain companies. But the company won’t sell controversial digital fan tokens, at least.
Socios has launched new deals with the Washington Commanders, Pittsburgh Steelers, Los Angeles Chargers, Miami Dolphins, Baltimore Ravens, Atlanta Falcons, Philadelphia Eagles, Cleveland Browns, New York Giants, Tampa Bay Buccaneers, San Francisco 49ers, Chicago Bears and Los Angeles Rams.
13 teams followed the New England Patriots, who first entered marketing deal with Socios in November. Socios, owned by Chiliz, in particular has done other partnerships that include the sale of fan tokens, but the NFL deal will be based on marketing activities and fan engagement efforts as the league remains vigilant with brand risks and regulatory issues.
The NFL broke up changes are approved for blockchain rules at league business venture committee meetings. Some of these changes include allowing teams to sign up for block sponsorships and receive NFT ads (without the use of signs and logos). However, the NFL still does not allow cryptocurrency promotion teams or blockchain fan tokens.
“We don’t mind that a long road to fan tokens,” said Socios strategy officer Max Rabinovitch. “We’re ready. The important thing for us is to let people know who we are and what we do.
Rabinovitch said there was interest from other NFL franchises, but ultimately decided that the 13 new teams were best suited to form one, while opening the door to add more clubs.
The deal allows Socios to integrate more deeply into the U.S. sports market. For the team, the deal provides an opportunity to earn measurable profits and build relationships with platforms that are determined to be long -term players in a way that sports teams keep fans engaged.
Socios ’approach to fan engagement has received much criticism in the industry. A report last month alleges Socios CEO Alexandre Dreyfus failed to pay advisers and staff members agreed-upon parts of Chiliz. Dreyfus has denied the claim. Fans also bashed their affiliated sports teams and organizations. The list includes the Champions League committee UEFAwho received backlash for monetizing supporter engagement through partnerships with companies.
Last year, UK advertising regulators also banned two Socios ads that promoted Arsenal FC tokens. The Advertising Standards Authority says the Premier League Club (EPL) misleads fans and the ads do not reflect the potential investment risk of earning tokens, which are purchased on the Socios app and give fans exclusive access to prizes and promotions.
Kroenke Sports and Entertainment, the parent company that owns the Rams and Arsenal, maintains a relationship with Socios. The 49ers -owned group (49ers Enterprises), which owns the EPL club Leeds Unitedthey did the same despite fan criticism.
Socios, which has done similar marketing deals with several NHL and NBA teams, looks good if the NFL is finally allowing teams to sell fan tokens. In the meantime, this offer will be left primarily to digital and social engagement, providing superfans the possibility to claim a variety of prizes.
