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What is Socios (Chiliz)?

Crypto Terms Glossary: What is Socios (Chiliz)?

Socios is a blockchain-enabled sports entertainment platform designed in the form of a mobile application. Socios works by allowing users to purchase CHZ — Chiliz' native token — which can then be exchanged for Fan Tokens that correspond to their favorite sports teams. By owning Fan Tokens, holders get access to exclusive rewards and the ability to vote in polls that influence team decisions like, for example, uniform designs. This model incentivizes users to buy CHZ, thus helping the Chiliz platform sustain long-term growth.

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