Fan engagement and rewards platform, Socios.com, which is part of Chiliz, a global provider of blockchain for the sports and entertainment industry, has filed a request with the Argentine commercial court, in response to the announcement of the new agreement between the Argentine Association Football (AFA) and Binance.
The court enacted a measure that obliges the AFA to comply with the agreement. In a statement, Socios.com shared the court’s resolution, which orders that “AFA and Torneos y Competencias SA respect the validity of the agreements signed with Socios.com, including the Fan Token, sponsorships of the national football team and the Liga Football Professional”.
On the other hand, it also warned that the parties cannot establish associations that interrupt the “rights that correspond exclusively to the Socios.com platform”. The company’s stance is due to the agreement announced by the AFA, in which Binance was introduced as the main global sponsor of the association for the next five years.
In addition to the sponsorship, Binance was appointed as the new Official Fan Token Partner and Sponsor of the Argentine Professional Football League, thus replacing Socios.com, which bestowed its name on the national football tournament last season.
“We celebrate this decision of an independent court, which recognizes that the contracts with AFA and Torneos y Competencias SA remain in force, and we express our willingness to continue actively collaborating with the Argentine justice system to defend the rights of the owners of Fan Tokens $ARG “, told Socios.com in a statement.
About the Socios.com platform
Socios.com is a direct-to-consumer (D2C) platform that leverages blockchain technology to provide sports organizations with the tools to interact with their global fanbases.
The platform’s partner list grows frequently, but it already includes Juventus, Atletico Madrid, PSG, Manchester City, Everton, Milan, Valencia, Arsenal, Corinthians, some selections and teams in cricket, Formula 1, basketball and electronic sports.
