In 2019 I joined the Socios.com app which at the time had just been released and was super super buggy. When the initial launch happened and up until recently it was almost exclusively just European soccer teams or football teams as they are called over there. I did not really do a lot at first until they really kicked off a ton of development and engagement events that really caught my attention.
The Socios.com app runs on the Chiliz Blockchain that uses the Chiliz cryptocurrency to power it. Chiliz is the exclusive currency used on the Socios.com app and has been super interesting to watch develop. Chiliz has a maximum supply of 8,888,888,888 $CHZ or 8.8 billion CHZ that has already been created and has been issued to a variety of things from the userbase reserve to the seed investors etc. The blockchain is a private Ethereum blockchain as it is a POA chain (Proof of Authenticity) so it does not require nodes nor are Ether gas fees an issue. Chiliz and fan tokens are ERC-20 tokens and can be transferred via the Ether mainnet but it would cost you money you do not need to spend.
Being involved with the project from such an early stage I have been able to watch this project grow and be extremely successful. It seems that every month announcements come out about new teams or leagues joining the blockchain. Since it launch it has now branched out into EU basketball teams, competitive gaming teams, Brazilian soccer teams and now The Professional Fighters League or PFL! The Socios.com team is even in negotiations with a Formula 1 of F1 team to join in and launch a fan token.
One way I have gotten extremely luck is that I have never spent a single cent on getting any CHZ. Since the mainnet was launched and with it Socios.com own fan token, SSU, a Daily Hunt feature was launch. This allowed you to walk around to different areas to get a reward and for the longest time it was either CHZ or SSU. It roughly worked out to where you could get between 1-20 CHZ a day when you checked out these different points. Now that has changed to where it is a lot harder but based off of this I was able to receive roughly 500 CHZ. When they launched the Lockers which would allow you to spend 200 CHZ to secure a unknown token I did a couple of them. There were hint on the team for instance the one I bought ended up being AC Milan but was called the Milan Devils. When the team signed on to Socios you got back 10% of the CHZ you had spent.
Chiliz during this time was worth roughly 1.5-2 cents and fan tokens were typically worth around $10 if not more! Well over the couple of months CHZ went from 1.5-2 cents to 50 cents a coin! This has caused the team to dramatically change the Daily Hunts as the value increased and they actually added fan tokens to be able to be received! From spending 0$ on Socios.com's app I have earned/received:
- 1 ATM
- 1 GAL
- 2 ACM
- 2 LOCK-1
- 1405 SSU
- 241 CHZ
All together is is roughly $365 in value! The ATM and GAL are each worth around $9 the 2 ACM tokens are worth roughly $21 the 2 LOCK-1 or Lockers for the Formula 1 team are worth a combined $200 and the 241 CHZ is worth $120. Now the app is still done in Euros so I had to try and work out the cost in USD so if the prices are wrong I am dealing with a crypto that isnt pegged to my native currency!
The team behind all of this has further hinted at more US based teams joining this app. For a while it seemed that a New York based basketball team would be joining but those talks have gone pretty quiet. I have also heard about some MLS teams joining in to but that has also quieted down. The Professional Fighters League has been the first US based token launched and it sold out completely in only a couple of hours! The platform and blockchain has shown it will be here long term as just last week Ronaldo became the first player to be rewarded by his club with digital assets when it gifted him 770 $JUV Fan Tokens (Juventus). The company has announced that 2021 will be a huge global expansion year for them and even has put $50 million aside for expansion into the 5 major US sports leagues! I cannot wait to see how that will work out and further enhance the value of the tokens I have not bad for spending $0 on a project!
