A.S. Roma Partners With Socios to Conduct "Fan Token Offering"

Samuel Haig
  • 24 Jul 2019
  • /
  • In #ICO

Italian Professional football club, Associazione Sportiva Roma (A.S. Roma), has announced that it will launch an “official Fan Token” in partnership with Socios.

Socios is a platform that allows sporting clubs to distribute digital tokens that facilitate voting rights, rewards, and exclusive merchandise offers. Other soccer clubs currently offering Fan Tokens through Socios include Paris Saint-Germain, Juventus, and West Ham United.

A.S. Roma Becomes Latest Soccer Club to Issue “Fan Token”

From Autumn onwards, fans of the club will be able to influence decisions regarding the naming of a club facility, choose a player to feature in a live Q&A on Twitter, and select pre-match activities at the Stadio Olimpico. The club also indicated that additional matters will be made available for fans to vote on “in due course.”

Francesco Calvo, the chief revenue officer of A.S. Roma, applauded the partnership, stating:

Thanks to Socios.com’s blockchain platform we can guarantee new opportunities to our fan base around the world, giving them the possibility to interact in an innovative way with their favorite team.

Alexandre Dreyfus, the founder and chief executive officer of Socios welcomed the partnership with A.S. Roma, stating: “This partnership gives us the opportunity to educate a huge audience of mainstream consumers to the benefits of blockchain and cryptocurrencies, across Europe as well as Asia and Latin America. If you add up all the fan bases of our current partners, we're already looking at a potential audience of hundreds of millions of sports fans and users.”

A.S. Roma Tokens to be Distributed by “Fan Token Offering”

To purchase the Fan Tokens, A.S. Roma supporters will first be required to purchase Socios’ native cryptocurrency, Chiliz (CHZ), which is currently listed on BitMax, KuCoin, and Binance DEX. Supporters can purchase the Fan Tokens in exchange for CHZ through a “Fan Token Offering.” The A.S. Roma Fan Token will be priced at €2 (approximately $2.23 each).

Fan tokens can also be earned through frequent interaction with the club on the Socios platform, of freely hunted through the app’s augmented-reality geo-location feature, “Token Hunt.”

The chief strategy officer for Socios, Max Rabinovitch, stated: ”It's exciting to be partnering with a club like AS Roma, which is eager to leverage its rich history and has a genuine willingness to evolve with the demands of modern football fans to really grow its footprint globally."

SEC Accuses California Scammers of Using Fake Crypto Trading Bot to Defraud Investors

Michael LaVere
  • The SEC has accused the founders of Dropil, Inc. of defrauding investors with a fake crypto trading bot and falsified profitability reports.
  • The complaint alleges the Dropil founders diverted investor funds from the DROP ICO to their personal digital asset and bank accounts. 

The U.S. Securities & Exchange Commission (SEC) alleges three California scammers defrauded investors of millions using a fake crypto trading bot and falsified reports. 

According to the complaint filed by the SEC on April 23, the SEC has charged Dropil, Inc. and it’s three California-based founders with defrauding investors in a “fraudulent and unregistered” initial coin offering (ICO) which raised more than $1.8 million from thousands of investors. 

Dropil, Inc. founders Jeremy McAlpine, Zachary Matar and Patrick O’Hara were accused of selling DROP tokens from January to March 2018. The complaint states investors were told their funds would be pooled and used to trade various digital assets by a “trading bot” named Dex, using a proprietary algorithm designed by Dropil. Investors were promised a distribution of the profit in DROP tokens every 15 days. 

However, the complaint alleges investor money was diverted to other projects, as well as the founders’ “personal digital asset” and bank accounts. Dropil also allegedly created false profitability reports, giving the appearance that the program was profitable. 

The founders were accused of misrepresenting the volume and value of DROP sold during and after the ICO, claiming they had raised $54 million from 34,000 investors despite only receiving $1.9 million from less than 2,500 participants. 

Featured Image Credit: Photo via Pixabay.com