Argentina’s major football league has reportedly entered a sponsorship agreement with blockchain entity Chilliz, which will lead to the rebranding of the league’s name.
Specifically, as revealed by Socios – a blockchain reward app established by Chilliz – the freshly formed sponsorship agreement with the Argentina Football Association (AFA) will change the league’s name, from the Primera Division currently to Torneo – which is Spanish for “Tournament” – Socios.com, starting the 2021/2022 season.
Torneo Socios.com was reportedly established in 1891 and was the first legitimate professional league available out of the territory of the UK.
The alliance is reportedly a major initiative from both entities, where a crypto company was selected to become the first commercial name for the rebranding of a league.
“We are very happy to kick off this journey with Socios.com. It is a very important agreement, since it’s the first time the Argentinian league partners with a commercial brand to rename the tournament,” President of the AFA, Claudio Tapia, reportedly remarked.
The company further emphasized that the development is reportedly included in the scope of a collaboration with the AFA, regarding the official roll-out of licensed Argentinian National Football team tokens, on June 11.
The Socios app reportedly functions as a direct-to-consumer platform, which utilizes the Chiliz blockchain to carry out the tokenization of sports franchises, via making officially licensed fan tokens available.
Fan token holders will reportedly then receive a wide range of rewards as well as voting rights via the app.