Italian Football Federation to Launch $ITA Fan Token on Socios.com

The Italian Football Federation (FIGC), in partnership with Chiliz, the leading blockchain providers for the sports and entertainment industry, have officially announced that the reigning European Champions will launch an $ITA Fan Token on the fan engagement and rewards app Socios.

Fan Tokens are digital assets, created on the Chiliz blockchain, which provide holders with voting rights in binding decisions, VIP rewards, exclusive promotions, augmented reality features, games and competitions.

In addition, fans are able to put their skills to the test against other fans from around the world in games, competitions and quizzes, competing in global leaderboards and earning real-life and digital club-related rewards, benefits and experiences along the way. Fans can also look forward to accessing exclusive content and experiencing Socios’s geo-location, augmented reality feature “Token Hunt”.

Socios also recently added to its offering for Fan Token holders, launching the first ever live “in game” NFTs in collaboration with AC Milan, Valencia and S.C. Corinthians.

The resources generated by the partnership will be used by the FIGC to develop the entire movement, focusing in particular on basic sports facilities, with the aim of improving training facilities throughout the country. Through the partnership, which involves all the Italian national teams, the FIGC aims to support the overall growth of the Italian football system. Furthermore, Socios will be the title sponsor of the Women’s Italian Cup for the next 2 years, confirming the growing interest in women’s competitions organized by the Football Federation.

Revenues from the sale of $ITA Fan Tokens will be reinvested into the Italian Football Federation, especially at youth level, with funds to be allocated to improve training facilities, coaching and player resources in order to promote the long term development and continued success of the national team.

Gabriele Gravina, President of FIGC, said: “This partnership will allow us to expand our relationship with our fans, providing new engagement opportunities and the chance for fans to be rewarded.

“It’s also another important step in continuing the development project of Italian football, because it will allow us to invest into new resources at a grassroots level. The partnership will allow us to support the development of youth football and the entire movement, from the base to the top of the pyramid.”

Alexandre Dreyfus, CEO of Chiliz and Socios, said: “Italy is a footballing powerhouse, synonymous with passion, determination and sporting glory.

“We’re proud and excited to welcome the reigning European champions to our roster of partners and look forward to giving Azzurri across the world the chance to engage with and be rewarded by their team like never before.”

Details on when the $ITA Fan Token will launch, as well as the price and supply will be revealed shortly.