Boston Celtics basketball team joins fan token platform Socios

Boston Celtics basketball team joins fan token platform Socios

Socios, the blockchain-based platform responsible for tokenizing many popular sports franchises, has said the Boston Celtics basketball team will be joining its roster.

In a Wednesday announcement from the National Basketball Association, Socios said it will have a significant presence on the Celtics’ website. Though the platform did not specifically mention it would be tokenizing players for digital collectibles, it will be using Celtics’ logos for international marketing.

Our top trading bots

Alexandre Dreyfus, CEO of Socios and blockchain-based sports platform Chiliz, said this partnership with an NBA team could lead to “enhanced fan engagement for fans of the Celtics,” perhaps hinting basketball fans might see tokens for the team as the platform develops. The Celtics have been a major force in the NBA, having won 17 world championships, the most recent one in 2008.

Tokenizing professional sports players and franchises seems to be a competitive game among blockchain firms as companies continue to announce similar partnerships. 

NBA’s Philadelphia 76ers and the National Hockey League’s New Jersey Devils have already joined Socios. The platform has said it will launch fan tokens for the Ultimate Fighting Championship and Formula 1 racing teams Aston Martin Cognizant and Alfa Romeo Racing on the Chiliz blockchain. However, Dapper Labs’ NBA Top Shot has the backing of prominent basketball players including Michael Jordan, Alex Caruso, and Kevin Durant.

Related: Socios partners with Turkish soccer club union to explore digital revenue models

Last week, the NBA’s Portland Trail Blazers announced a sponsorship program with blockchain company StormX, which would reportedly have players wear the firm’s logo on their jerseys for the next five years.

Keep reading relating to Cointelegraph
1inch Foundation plans to distribute 10M tokens to compensate for gas costs
The non-profit arm of decentralized exchange aggregator 1inch plans to give away more than $23 million to users starting September 1.In an announcement...
Texas alleges that BlockFi is offering unregistered securities
The Texas State Securities Board has filed for a cease and desist order against crypto lending firm BlockFi for not offering a security licensed at the...
Sunday's GBTC unlock held more shares than the remaining events combined
Bitcoin (BTC) is rebounding despite the ongoing Grayscale Bitcoin Trust (GBTC) unlocking events — and most shares are already released.According to data...
China’s Bitcoin hash power fell before the crackdown: Cambridge data
China’s crackdown on Bitcoin (BTC) mining due to energy consumption concerns is widely regarded as the trigger for the miners’ exodus from Asia to Western...
Bitcoin dips below $33K as shorts spike, trader warns of 'violent' BTC price squeeze
Bitcoin (BTC) fell back below $33,000 support on July 12 as a familiar cocktail of low volumes and mounting shorts pressured price action. BTC/USD 1-hour...
SEC appoints New Jersey Attorney General as director of enforcement
The United States Securities and Exchange Commission has appointed New Jersey Attorney General Gurbir S. Grewal as Director of the Division of Enforcement....
Data fails to conclude that Bitfinex shorts are depressing Bitcoin price
One of the most common errors traders make when analyzing cryptocurrency markets is taking an exchanges' bid and ask data and traded volumes at face value....
Nexo in Miami: Crypto interest account giant talks DeFi, institutional adoption
While decentralized finance has stolen the show with big-number headlines over the past year — the closely-watched Total Value Locked (TVL) figure notably...
Community members integrate play-to-earn features into Dark Forest game
Players of the decentralized real-time strategy game Dark Forest have introduced new and innovative ways of earning cryptocurrency within the virtual ecosystem.The...
Bitcoin mining in China set for 'stricter supervision' due to carbon concerns
China’s crypto mining operations may be set for stricter supervision in the future, with the Government reportedly concerned about the energy consumption...
Ethereum Improvement Proposal 1559: Is the squeeze worth the juice?
Ethereum Improvement Proposal 1559, set to be bundled together with the “London” upgrade in July, has caused as much excitement as fear and panic. On the...
Crypto Platform To Launch an App, Which Deals With a Debit Card For Simpler Trading
Fidelium, a company, registered in the US which provides services of a cryptocurrency bourse, will soon allow its clients to carry out payments effortlessly...
34 Thousand Vulnerabilities Are In Ethereum Smart Contracts
Currently, in the Ethereum blockchain, there are hundreds of thousands of smart contracts that manage wallets, tokens, applications or used to store funds....
Risks of Cashing Out Cryptos Into Fiat
In 2017 bitcoin has grown by around 1,700%, when litecoin managed to surge up by about 7,000% and despite the correction which occurred to the whole...
Segwit 2x: Christmas Gift for Crypto Community to be Presented
Bitcoin Segwit2X team, which calls its project “the revival of Bitcoin”, was supposed to present the hard fork of the most prominent cryptocurrency back...