Brazilian football club Palmeiras to launch fan token on Socios

Fan token platform Socios has partnered with ten-time Serie A Brazilian Champions Sociedade Esportiva Palmeiras, to launch its fan token ‘$VERDAO’.

The deal was completed in partnership with Chiliz – the developer of Socios – which possesses a roster including the likes of Atletico Madrid, Barcelona, Paris Saint-Germain, and more.

The signing of Palmeiras is a huge coup for Socios with the club being backed by more than 16 million supporters and stand alone as the most successful club in domestic competitions in Brazil.

Palmeiras fans will be able to use the $VERDAO fan token to voice their opinions on topics such as kit designs, squad numbers for new signings, and celebration songs through online polls.

$VERDAO holders will also have the opportunity to earn official merchandise as well as NFTs.

The 2021 Copa Libertadores winners are the fifth Brazilian side to team up with Socios, which has targeted the South American region.

Maurício Galiotte, President of Palmeiras, said the partnership will allow Palmeiras to grow their brand in Brazil, but around the globe.

“This is a potentially wide and powerful partnership, which is able to promote an active behaviour and help us to increase our fan engagement in Brazil and around the world,” he said.

Socios has made major moves not only with football club fan tokens but with American sports leagues like the NBA, having signed deals with six NBA teams, including reigning champions, the Milwaukee Bucks.