The crypto platform Socios hosts dozens of tokens for European soccer clubs and other sports- and esports-related organizations, and its presence has spread to the United States through pro team marketing deals without tokens attached. Adding to its growing collection of National Football League teams is the firm’s latest acquisition.
The company announced multi-year marketing agreements with 13 teams: the Atlanta Falcons, Baltimore Ravens, Chicago Bears, Cleveland Browns, Los Angeles Chargers, Los Angeles Rams, Miami Dolphins, New York Giants, Philadelphia Eagles, Pittsburgh Steelers, San Francisco 49ers, Tampa Bay Buccaneers, and Washington Commanders.
The only NFL team that Socios previously signed was the New England Patriots.
New England Revolution shares an ownership group with Kraft Sports + Entertainment, which included Major League Soccer’s New England Revolution.
Rabinovitch revealed that Socios and Chiliz’s parent company have inked 13 new NFL team deals after talking to the league for more than a year.
“What these deals essentially indicate is that the league is comfortable and interested in us, and was in a position following our discussions where they allowed us to sign with as many teams as we did,” he said.
These 13 new NFL team marketing deals do not include fan tokens, as did the Patriots and Revolution deals, and likewise with Socios’ partnerships with NBA and NHL teams.
Sports fan token firm Socios is known as a leader in the crypto space. They have tokens for soccer giants Paris Saint-Germain, Juventus, and Manchester City F.C.
As a token forked from Ethereum, it is currently minted on a blockchain platform and can be traded on the market. It also comes with perks like voting on team decisions and exclusive giveaways.
Rabinovitch was open about the firm’s general approach to working with American leagues, describing its strategy in general as “very slow and conservative” to begin with. According to him, the NFL and other leagues are still getting used to the idea of crypto tokens tied to teams, and they wish to establish relationships and educate fans and teams in the meantime.