Chiliz Onboards Spanish eSports Franchise Team Heretics; Will Launch Their Own Fan Token
Chiliz has added another major esports team to its roster in the form of a famous Spanish esports team called Team Heretic. Chiliz’s Socios.com, a fan token platform, revealed the latest addition to its platform through its official twitter handle on August 18. The Spanish esports team, in association with the fan token platform, would create and distribute fan tokens $TH for €2 apiece during the initial offering period.
— Chiliz ($CHZ) (@Chiliz) August 18, 2020
Chiliz has an ambitious plan of adding 50+ brands to its socios.com platform, and the addition of Team Heretic comes months after back-to-back Dota 2 champions OG joined the platform back in March. The first sale of the fan token would begin on March 25.
The fan token, $TH, is built on top of Ethereum and allows the fans to participate in official polls on the Socios.com platform. The first event that the $TH holders can vote on would be to decide which Fortnite player would lead the team in a deathmatch.
And later, the team would also pick six $TH holders to join them in the match. Apart from these utilities, the token holders in the future would also get a say in the decision-making process. Pablo Canosa, Team Heretics Commercial Director, commented on their recent association with the Socios.com and said:
“It’s essential to us that our fans are involved as much as possible with the organization. Now—thanks to Socios.com—our fans can have a real voice and the opportunity to vote in important team matters. Not only this, but fans can also look forward to exclusive rewards and experiences too,”
$TH Token Distribution
The beginning phase of the token sale would see a distribution of 125,000 of the $TH Fan Tokens, where 90,000 of the 150,000 would be sold on Socios.com, and the remaining 35,000 would be sold on Chiliz.net where each individual could buy a maximum of 50 $TH tokens. The next sale and price of the token would be determined by the supply-demand and the mining of 5 million tokens.