It's another privilege to be a part of this lesson today. Season 4 will be awesome. Thanks you professor @wahyunahrul for this one.

In today's world the blockchain technology has entered almost all parts of our economic activities from the business, social, financial, industrial and even in the area of sports. In the world of sports, blockchain technology have penetrated through the walls of various sporting activities as explained in the lesson. The crux of this lesson centred around how the blockchain platform so shows.com has brought sports fans closer to their supported clubs.

What is socios.com?

Socios.com is a blockchain platform created by Chilliz which run on the Ethereum network and enable fans' engagement with their favourite teams via fan tokens. The platform enable football and other sports fans to purchase the fan token of their clubs in order to have access to various decision-making of their clubs. It is both a "fan-influence" and a reward platform. The reward comes in various aspects such as access to favourite athletes, Jerseys signed by their favourite athletes and other prices given out by the club from time to time. Social.com exist to bring sports fans closer to their club which is not really possible in a conventional sport system.

The platform have some unique features such as the creation of fan tokens to be purchased and owned by fans, the enablement of fans to participate in major decisions of their club, reward system for users, etc.

2) The Effects of Blockchain in the Sport Industry

One of the greatest advantage of the blockchain technology in any industry is that it is open-sourced which gives everyone equal rights whatever is happening in that industry. In the sports industry, the biggest effect of blockchain technology is that it brings fans closer to the team they support.

As stated earlier, blockchain in the sports industry will enable fans to have personal contact with their favourite athlete which is very uncommon in a conventional aspect. With blockchain technology, fans have a say in whatever decision is to be taken by the club.

Additionally, it allows sports lovers to hunt or purchase fan tokens of their favourite clubs. This is more like making them shareholders of the club. Combining blockchain technology of owning fan tokens (cryptocurrency) and enjoying the fun of sports is the best thing that can happen to crypto traders who also have passion for sports.

In all, there are more of positive effects as explained above, accompany the penetration of blockchain into the sports industry.

3. Socios.com as an Investment Vehicle; Good or Bad?

I would say that the main idea of blockchain centres around people being able to share valuable data in a way that is secured and cannot be tempered with. Buying fan tokens will not only allow users to own an asset. It will also enable them to take part in the affairs of their clubs.

Also, when they are no longer interested, they can sell their fan tokens to other users. This way, they have enjoyed all the benefits and rewards of holding their fan token and still have their Investments liquidated when they are no longer interested. Since it is a win-win for fans, socios.com to me is considered a good investment.

4. Steps to install the Socios application and features

To install the Socios application, there are certain steps required to be followed.

Unfortunately, I have tried severally and did everything I could for the verification code to enter, but it still did not. I will provide screenshot to the point of verification. That notwithstanding, I will go through the process involved in creating the account without screenshots.

Step 1: Install the application from Google play store or Apple store for Android and iPhone users respectively.

Step 2: Click on 'install' to install the application. Once this is done click on 'get started' as in the image below.

Step 3: In the next page, enter your mobile number and click on send verification to verify your account.

Step 4: Enter the verification code sent to your number in the space provided and wait for the verification to be completed.

Step 5: The next step will be email registration and verification. Here, you enter your email and click on verify.

Step 6: Open your email for the code. Once you open the message from Socios, you will see a button that says "verify now." Click on it to complete email verification for your account.

Step 7: Go back to the application and launch it. Here, you will be shown how to use the application.

After reading, click on "finish". Your account would be ready for use. If you want to do some additional verifications, then you can do that in your profile.

Features of Socios Application

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1. Home:

This is the original page of the application once launched. It displays the menu and other features.

2. Wallet:

This is where fan tokens are kept. Once fan tokens are hunted or purchased, they would be stored in the wallet

3. Hunt:

This feature enables users to hunt down $CHZ and fan tokens placed at different locations through geolocation technology.

4. Feed:

This is where users get updates on the happenings of the platform and clubs.

5. Polls:

This is a feature that allow users to vote and partake in the decision makings of the club inwhich they support. Once a user is a holder of any fan token, such user can explore the polling feature in order to participate in the voting processes.

6. Fan Token:

This is the feature that displays various tokens of various clubs available in the Socios platform. Some of the tokens include; $PSG, $JUV, $ACM, $UFC, $PFL, $INTER, etc. All these represent different clubs. The total fan tokens have amounted to 42 but only 37 have so far been launched.

7. Reward:

This feature exposes participants to several benefits such as personal contact with their favourite player, prizes on different occasions, Jerseys signed by their favourite player, etc.

It is quite unfortunate that I can't back this up with screenshots. This is because I couldn't get pass the verification stage of the Socios application.

Question Five: JUV Token

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JUV is an influence token of Juventus club. This token gives Juventus fans/supporters who hold the token a share in the club's decision making through Socios. JUV is the ticker for the official fan token of Juventus Sports club and it was officially launched on the 28th day of January, 2020. Juventus FC is a club established in 1897. The club have bagged 11 international titles as well as 50 domestic titles. In conjunction with Socios.com, Juventus had its fan token launched in 2020.

JUV has a current circulating supply of 1,315,932 JUV coins and a total supply of 20,000,000 JUV. The token reached its all time high of $38.11 but later dropped. It's current price as at the time of writing is $13.06. In addition, the 24 hour trading volume is$65,945,792.22.

Currently, the JUV token is ranked #815 and its market capitalization, $17,187,603 while the fully diluted market capitalization is $261,223,27.54. Apart from Chiliz, the JUV token can be traded in Binance paired with USDT, BTC and BUSD. It can also be traded on Paribu, BKEX and Pionex.

Conclusion

Bringing blockchain technology into the world of sports is white a nice idea. It is now a reality that fans can take part in the activities and some decisions of their supporter clubs. It is no longer news that blockchain technology is taking over the space. This introduction of fan tokens is not only making sport fun, it is also creating investment vehicles for sport lovers to increase their portfolio. Indeed it was a great lesson.

Thank you so much for reading!