Chiliz, a Web3 project focused on sports, and owned by socios.com, has achieved trademark success in the United States by officially registering the term, “Fan Token.” This means that Chiliz and Socios have obtained exclusive rights to the term, allowing them to use it in the context of sports team-specific tokens or cryptocurrencies.
The concept of fan tokens involves creating digital assets dedicated to specific sports teams, enabling fans to engage in and participate in various activities related to their favorite teams.
Chiliz as an entity is made up of the Chiliz chain, the Chiliz token (CHZ), and Chiliz X. The Chiliz chain is designed to be the underlying infrastructure for Chiliz cryptocurrency as well as a platform where other blockchain projects focused on sports and entertainment can be built.
Also, there is socios.com, a platform powered by Chiliz (CHZ) tokens which allow fans to use CHZ tokens to access various features and participate in activities related to their favorite sports organizations.
These features include voting in club-related decisions, VIP experiences, exclusive merchandise, and more. By holding CHZ tokens, fans can gain influence and engagement opportunities within the sports organizations they support.
The Socios.com platform has partnered with numerous prominent sports organizations worldwide, including football clubs such as Paris Saint-Germain (PSG), FC Barcelona, Juventus, and many others. These partnerships enable fans to connect with their favorite teams and have a more interactive and immersive experience through the Chiliz ecosystem.
While the registration of the term “Fan Token” is positive news for Chiliz and Socios, it was clarified that the announcement does not indicate the release of NBA-focused fan tokens. Alexandre Dreyfus, CEO of Chiliz, explained that users should not be expecting the release of any NBA-related token soon.