As per the latest reports, another basketball team has joined the much-adopted blockchain-based platform known as Socios. Socios has gained tremendous growth and adoption in the sports sector for creating and launching tokenized coins. These tokens are for the fans and enthusiasts of particular sports teams and their favorite stars.
Ever since the launch of the Socios platform, it has formed partnerships with several sports teams. It has been constantly increasing its portfolio for the number of sports teams it has been supporting. So far, Socios has added several sports franchises from all over the world under its flag.
Even the sports teams partnering with Socios are very glad that they were approached by the blockchain-based platform. They have all revealed that they had been aiming to explore the cryptocurrency and blockchain industry. Therefore, they find it to be very promising when a platform such as Socios approaches them for collaboration.
Just recently, reports have started emerging that Socios has successfully signed up Cleveland Cavaliers. Cleveland Cavaliers is one of the most prominent and highly praised basketball teams. The particular team is currently part of the National Basketball Association (NBA).
The announcement in regards to the collaboration between the Cleveland Cavaliers and Socios was made on Monday, July 26, 2021. The announcement in regards to the collaboration between the firms was made by Chiliz, which is the tokenization platform powered by Socios.
Following the collaboration announcement between the two entities, it has been revealed that the practicing jerseys of the basketball team would have Socios logo.
According to Socios, the fans of the Cleveland Cavaliers basketball team would be seeing the logos of the platform on their practice jerseys by the end of 2021.
Apart from the above, Socios is also making the necessary arrangements for the review of a new phase that involves fans. Once decided, the development phase for the particular phase would be initiated that would focus on fan engagement elements.
For now, the fan engagement elements are being referred to as the digital collectibles and tokens that the fans would have access to.
Alexandre Dreyfus, the CEO of Chiliz and Socios has also talked about the latest partnership the company has formed with the Cleveland Cavaliers. He stated that as always, they are really excited about the deal-making it through between the two firms.
They are glad that with this, they would be able to expand their services more in the sports sector. They are extremely excited about the new partnership and are confident that with this, they would be able to target more fans and teams.
With the latest move, Socios has formed yet another very critical partnership, which is going to go a long way in further expanding the platform’s services.
