The Torneo Socios.com agreement will see the country’s premier soccer league, previously known as the “Primera Division,” renamed the “Torneo Socios.com” for the 2021/2022 season.
Argentina’s top professional soccer league is rebranding following a new sponsorship agreement with Chiliz, the founders of fan tokens and the blockchain rewards app Socios.com.
According to a July 15 release by Socios, the cooperation with the Argentina Football Association (AFA) would result in the Primera Division being renamed the Torneo Socios.com for the 2021/2022 season. Torneo is Spanish for “tournament.”
A league of our own.
We are incredibly proud to announce that for the 2021/22 season, Argentina’s Primera División will be renamed Torneo https://t.co/[email protected] ⚡️ $CHZ pic.twitter.com/oLutukdtI3
— Socios.com (@socios) July 15, 2021
It was the first professional league outside of the United Kingdom when Torneo Socios.com was organised in 1891, making it the oldest active league in the world.
In addition to the cooperation, a cryptocurrency company has been selected as the first commercial name that will be used to rebrand the league, which is a huge step forward for all sides.
“We are thrilled to be embarking on this journey with Socios.com. The partnership is significant since it is the first time that the Argentinian league has collaborated with a commercial brand to rename a tournament, according to Claudio Tapia, the AFA’s president, who made the statement as part of the announcement.
The company also stated that the announcement comes as a result of a relationship with the Argentine Football Association (AFA), which will formally distribute licenced Argentinian National Football team tokens on June 11.
The Socios app is a direct-to-consumer platform that makes use of the Chiliz blockchain to tokenize sports franchises by distributing officially sanctioned fan tokens to fans of the respective teams. Those who have purchased fan tokens can then use the app to acquire various perks and voting rights.
According to reports, the platform distributes half of the earnings from fan token sales to its affiliated clubs, and the company claims that fan tokens have already “generated over $150 million in revenue,” which will be distributed to its partners in 2021.
A long range of high-profile agreements has been established between the platform and notable sporting organisations, including the NBA’s Boston Celtics and Philadelphia 76ers, the Ultimate Fighting Championship, and the English Premier League’s Manchester City, to mention a few examples.
