French esports organisation Team Vitality has announced plans to launch fan tokens on blockchain-based fan engagement and rewards application Socios.com.
The deal, in partnership with blockchain provider Chiliz, will see holders of the $VIT Fan Token obtain access to exclusive Team Vitality content, activations and shop vouchers.
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Moreover, token holders will gain the opportunity to attend some of the organisation’s events as special guests. Team Vitality will also host monthly polls where fans can influence decisions.
Nicolas Maurer, CEO of Team Vitality, commented: “At Team Vitality we’re lucky to have some of the most creative and engaged fans in esports, and we’re always looking for ways to collaborate more closely and offer them new experiences.
“Socios.com has a track record of providing an innovative Fan Token platform for some huge sports and esports brands, and we’re proud to partner with them. Our first poll is a very exciting one which we’ll be announcing in the coming days and I can’t wait to see how our fans vote.”
The $VIT Fan Token will launch on July 1st and will be priced at €2 (~£1.71) each during the initial sale. A total of 7m of Team Vitality’s digital collectables will be minted on the Chiliz blockchain.
Alexandre Dreyfus, CEO of Chiliz and Socios.com, stated: “Team Vitality is France’s number one esports organisation. They are already an absolute powerhouse of the esports world, but with the launch of the $VIT Fan Token they will be able to expand their reach exponentially, growing their unique, exciting brand on a global scale.
“Vitality have really grasped what Fan Tokens are all about and fans can look forward to some groundbreaking, unprecedented engagement opportunities on the Socios.com app — as well as some really cool rewards too from the moment the Fan Token launches in just a few weeks time on July 1st.”
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Team Vitality is not the only esports organisation to launch fan tokens on Socios.com. The likes of OG, NAVI, Team Heretics and Team Alliance, have also announced similar activations in the past.
“We now have five major esports organisations on our roster, which is definitely a milestone for us, but there is still immense potential for growth in this space, both in terms of activity with our existing partners and new partnerships,” added Dreyfus.
Esports Insider says: Given the successful launches of other orgs’ fan tokens on Socios.com, Team Vitality has identified the benefits of having a fan token system. Fan tokens like these are a compelling way for organisations to bolster fan engagement and bring in an additional revenue stream at the same time, whilst also being affordable practically for any fan.