Brooklyn Nets and Socios have signed a collaboration agreement which provides a clearly recognizable space in all the initiatives of the NBA franchise for the company based in Malta. Practically Members it will have a presence on the club's social networks, which will expose its brand in its initiatives. Consequently, allowing it to expand to a wider audience of sports enthusiasts. It will also be present in the home games of the Nets and will manage a hub dedicated to fans called SociosSuite inside the Barclays Center, the sports hall that hosts them.
It would therefore be a real sponsorship and not an agreement on the use of fan taken, as has happened in other agreements recently signed by Sorare, such as those with Barcelona, Manchester City e Paris-Saint Germain (PSG).
Why not token fans?
In the case of the Brooklyn Nets, there is no issue of tokens reserved for team supporters. The reason for this decision is to be found that they are real cryptocurrencies, unlike what happens with NFT (Non Fungible Token).
The Securities and Exchange However, the US Commission (SEC) tends to view most cryptocurrencies as stocks. Given that Socios is looking to expand within the US market, the company has probably opted for keeping a low profile. In particular, trying to pay maximum attention to regulatory compliance.
A problem that does not arise, however, in most of Europe, where cryptocurrencies must respond, at least for now, only to anti-money laundering regulations. Considerations that have prompted Socios and partner clubs to proceed with great caution.
What is Socios.com?
Founded in 2018, Socios.com is a direct-to-consumer (D2C) platform founded on the use of technology blockchain in order to provide sports clubs around the world with the tools that can involve their fan base more.
The company is stationed in Malta from where it started one expansion policy which is taking on ever greater speed. After having allocated 50 million dollars in order to conquer the US market, it has in fact entered into agreements with the Argentine football league to secure the naming rights on the local league, one of the most famous globally. In recent days it has also entered into collaboration agreements with two famous South American football clubs, namely the Racing Club (Argentina) and the St. Paul (Brazil).
As part of this policy, regional offices have been opened in Madrid, Istanbul, Sao Paulo and Buenos Aires. Who is entrusted with the task of winning over an increasing number of followers.
A fearsome competitor: Bitci
The world of sport is a territory that however allows great opportunities to anyone who intends to do so. The companies, in fact, are at the search for new sources of financing capable of limiting the damage caused by the Covid pandemic. Which has in practice forced to close stadiums and arenas for a long time, causing real cracks in the budgets.
Among those who are moving to offer an alternative to Socios, the presence of Bitter, a Turkish group that already boasts a collaboration with the federation of football Brazilian and has recently added to its audience theInternational Basketball Association. And that will certainly want to expand its presence in an area that promises to be extremely receptive. As confirmed by the long theory of agreements between sports clubs and crypto companies in recent months.