The Boston Celtics have announced the signing of an official partnership with Socios, a company known for tokenizing sports franchises.
Socios has become a big name at the intersection of cryptocurrency and sports over the last year. The platform allows for the tokenizing of popular sports teams, allowing fans the option to invest in their favorite teams so to speak.
Today, Socios announced the newest member of their team, the Boston Celtics of the National Basketball Association (NBA). The press release by the Celtics stated that Socios will be heavily featured on Boston’s website. Additionally, Socios will become the presenting partner of the Celtic’s website, which puts them at the center of all the news and updates the team shares.
Socios will also be allowed to use the Celtics logos in connection with international marketing activities. So far, no word specifically on whether the Celtics will be tokenizing players for digital collectibles, something the Socios platform is known for. The statement did hint at the eventual tokenizing by saying that the deal could lead to “enhanced fan engagement for fans of the Celtics.”
Socios tokens allow for fans to essentially buy their way into being a “part of the team”. What that means is that those who invest in these tokens will get rewards such as VIP access, tickets, promotions, and even voting privileges on minor team decisions.
Socios making a push toward the US market
Socios now has around 40 different teams and starts across the worlds of soccer, Formula 1, MMA, eSports, and cricket. The partnership with Boston is part of Socios push into the United States, as the teams they have signed before are primarily European-based squads. As Alexandre Dreyfus, CEO of Socios, puts it, “The Boston Celtics are an iconic, world-renowned brand, and I’m delighted they have become the latest major US-based sporting organization to join our rapidly expanding network.”
The New Jersey Devils of the National Hockey League (NHL) became the first professional sports franchise in the United States to team up with Socios followed by the Philadelphia 76ers. The platform also has a deal with the US-Based MMA promotion Ultimate Fighting Championship (UFC). The company has plans to open a new office in North America in the near future.
Notable foreign teams who have deals with Socios include FC Barca, AC Milan, Paris Saint-Germain, and Juventus. Additionally, national teams such as Argentina have also partnered with the fan-centered platform.
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