The South African Football Association (SAFA) and the Chiliz Group, the world’s leading blockchain provider for the sports and entertainment industry, have announced a landmark partnership that will see Bafana Bafana, South Africa’s senior men’s national team, launch their official Fan Token™ on the Socios.com fan engagement platform, joining a global network of sporting giants.
The agreement marks a significant milestone for African football and positions Bafana Bafana alongside other prestigious national teams with Fan Tokens™, including Argentina, Portugal, and Italy. This strategic collaboration aims to redefine how the national team connects with its global fanbase, leveraging digital innovation to foster a closer, more interactive community for supporters.
SAFA CEO Lydia Monyepao said: “This partnership represents a new chapter in SAFA’s journey into Web3, Blockchains and Fan Tokens™, to reward exclusive experiences to our passionate fans not only across South Africa but also as we grow our fan base globally that are already using NFTs.
“Bafana Bafana® has always been the people’s team on the African continent, and through this collaboration we are exploring innovative ways for fans to be part of the team’s global journey, starting with the FIFA World Cup opening match in Mexico City next month. Socios is a global player whose experience working with top football clubs and national teams to unlock unique assets for loyal and digitally engaged fans will surely benefit our brand’s growth within this demographic.”
Alexandre Dreyfus, CEO of Chiliz and Socios.com, added: “Welcoming Bafana Bafana to our ecosystem is a proud moment. The passion of South African football fans is undeniable, and we look forward to providing a platform where that passion can be recognised and rewarded. As we enter a World Cup year, we are committed to building a global community where fans have a voice and a unique connection to their national teams.”
$SAFA Fan Token™: How it works
Fan Tokens are digital assets minted on Chiliz Chain blockchain technology, issued to 70+ of the world’s leading sports teams and organizations. Via the Socios.com app—the home of Fan Token™ utility—$SAFA holders can:
● Vote on Binding Polls to influence team decisions and activities.
● Earn Reward Points by staking your $SAFA Fan Tokens™ or participating in other in-app features to redeem exclusive perks, unique experiences and team merchandise.
How to get your $SAFA Fan Tokens™?
- Download the Socios.com app. Available on the App Store or Google Play Store.
- Register and verify your account.
- Complete the onboarding steps.
- Top up with Chiliz ($CHZ).
- Purchase $SAFA Fan Tokens™.
- Stake your $SAFA Fan Tokens™ daily to earn in-app Reward Points.
Risks of Fan Token Staking™
Fan Tokens™ are digital assets designed for fan engagement and entertainment purposes only. They are not financial instruments or investments and should not be acquired with the expectation of financial return. The staking function within the Socios.com app does not generate any financial rewards for users. Instead, the rewards are ‘reward points’ that can only be redeemed within the app for experiences or rewards. These points cannot be converted into any other form, nor do they hold any monetary or financial value.
You will not be able to sell or send your staked assets until the unstaking process is complete; Fan Tokens™ may be subject to price fluctuations, and price volatility will still apply to Fan Tokens™ during this process and whilst staked.
Once you’ve unstaked, there will be a 7-day cooling off period during which your Fan Tokens™ will move to ‘pending claimable’. At the end of the seven days, you will be able to stake them again or use them in the market. To help, you’ll receive a push notification at the end of the cool off period, alerting you that your Fan Tokens™ are ready to be claimed.
Full details regarding the Bafana Bafana Fan Token™ launch will be announced in the coming weeks, including launch date, pricing, and exclusive benefits for early supporters.
SOURCED FROM SAFA WEBSITE.
