Chiliz Powers Formula 1 Team Fan Tokens via Socios App

Tech

Chiliz Powers Formula 1 Team Fan Tokens via Socios App

• Chiliz & Socios partner with major Formula 1 teams for fan token engagement
• F1 fans get voting, rewards & VIP perks via Chiliz ($CHZ) fan tokens on Socios
• Chiliz expands beyond football, bringing its fan token model to Formula 1

Chiliz has emerged as a key platform for blockchain-based fan engagement. It offers a unique mix of digital innovation and real-world team influence through its Socios platform. With over 70 official fan tokens launched and a community exceeding 2 million users, the project pioneers fan interaction across football, Formula One, UFC, and other sports.

Previously, accessing high-value sports collectibles often meant high prices, like rare Lionel Messi NFTs or digital cards of iconic moments. Chiliz aims to offer fans a different path. It allows them to gain influence or participate more directly with their favorite teams through fan tokens, distinct from purely collecting digital items.

How Do Chiliz Fan Tokens Work？

These fan tokens are created on the native Chiliz Chain using the CAP-20 token standard. They typically come with specific utilities like voting rights on certain team decisions (e.g., polls), access to exclusive merchandise or rewards, and other interactive participation rights. Chilizs core focus is enabling fan funding and deeper engagement between teams and supporters globally. Tokens provide fans a way to connect with teams or stars while also helping partners scale fan-related activities.

According to Coingeckos context, the Socios platform has partnered with major global football clubs including Manchester City, Arsenal, and Paris Saint-Germain (PSG). These partnerships enable fans holding the respective fan tokens to vote on matters like team kit designs, official goal celebration songs, and sometimes even jersey sponsors.

Beyond football, Chiliz has expanded its partnerships into Formula One racing, the UFC mixed martial arts league, and various esports organizations. In these collaborations, fans can typically stake their tokens to earn unique rewards or gain access to VIP experiences, significantly altering traditional fan engagement models within the sports world.

Whats Next for Chiliz & Socios？

With its Socios platform recently receiving regulatory approval in Malta, Chiliz is set for further international expansion opportunities. Additionally, the recent launch by Chiliz of a non-custodial Web3 wallet offers fans greater direct control and ownership over their fan tokens and other related digital assets.

Looking ahead to Q2 2025, Chiliz also plans to expand its model into the music and broader eSports entertainment sectors. The company reportedly projects potentially reaching $2 billion in Total Value Locked (TVL) across its ecosystem as it grows into these new verticals.