Inter's Financial Situation

[brehme1989]

Whatever it is, it feels dodgy.

 

[.h.]

yeah, i dont disagree. Thats why I keep insisting they better be paying in credit. Dont want these fucks ending up in our 'unpaid sponsorship revenue' column too.

 

[brehme1989]

https://www.chiliz.com/en/

This is them by the way, Socios is just a brand.

And color me surprised, Juventus was the first to deal with these guys. So our Chinese dudes had to copy that as well...

 

[.h.]

Blockchain sports firm Chiliz to invest $50 million in U.S expansion

Blockchain sports venture Chiliz, which is heavily involved in European soccer, will invest $50 million in an expansion to the United States, chief executive Alexandre Dreyfus has told Reuters.

www.reuters.com

 

[CafeCordoba]

Yeah they have been investing a lot to the marketing. Maybe they have some long-term target and they haven indeed financing for all this shit. I still don't get it how they make the money apart from commissions in crypto trade and the initial token sale when they create new tokens for new clubs. Specially since those tokens can be traded other marketplaces too, not just in Chiliz.

 

[Ethor]

This "Socio deal" smells like the docks at low tide. I imagine some kind of tie in with CCP in this one, since China mines alot of cryto currency despite their recent goverment crackdown i.e. more control.

 

[CafeCordoba]

This has nothing to do with CCP.

 

[brehme1989]

The irony is that China wants to destroy crypto shit.

 

[I4E]

So how much is an $inter fan token worth ?

Will be interesting to keep track of its value.

 

[ADRossi]

How does Socios have 20m cash and how do they guarantee that they can keep this up every year for the duration of the deal?

I fear this will end up in court.

Yeah, this is my primary concern. This feels like a short-term solution. The product is poor and unlikely to generate the kind of revenues needed to have this large of a commitment.

 

[.h.]

I dont even want to know anymore about the inter fan tokens shit. It screams of Football Index to me - went bust and people lost over £100m.

 

[DARi0]

Fishy indeed, company is registered in Malta like online betting / casinos.

“Inter have announced a major new partnership with Chiliz $CHZ, the leading blockchain providers for the global sports and entertainment industry. Through this partnership, the club will promote their soon-to-be-launched $INTER Fan Token from the front of their shirt,” Inter’s official announcement reads.

“Socios.com, the Nerazzurri’s new Global Main Jersey Partner, will become a digital meeting place for Inter’s worldwide fanbase, with the partnership reflecting the Club’s drive to create an ever-better fan experience for their global following.

“$INTER Fan Tokens will create new experiences for Inter Milan supporters across the world, allowing them to become part of a vibrant digital community on Socios.com. There will be countless engagement opportunities on Socios.com for $INTER Fan Token holders, including the chance to influence the club in a range of important, interactive and fun, polls every season.

“Fans will also be able to access exclusive club-related content, put their skills to the test and go up against other fans from around the world in club-related games, competitions and quizzes, competing in global leaderboards to earn once-in-a-lifetime real-life and digital VIP rewards and experiences. The $INTER Fan Token will launch in the near future.
Socios.com is a direct-to-consumer (D2C) platform that leverages blockchain technology to provide the world’s leading sporting organisations with the tools to engage with their global fanbases.

“More than 40 major sporting organisations have partnered with Socios.com to launch Fan Tokens, including some of the biggest European football clubs and the Argentina and Portugal national football teams, as well as a number of leading teams from F1, eSports and cricket.

“Created by Chiliz $CHZ, the leading blockchain provider for the global sports and entertainment industry, Socios.com has major expansion plans for 2021 and is targeting many more Fan Token launches throughout the world. Nearly 1.2 million fans have already downloaded the Socios.com app and the company’s hypergrowth will continue as it targets many more Fan Token launches with partners globally.”

“Alessandro Antonello, Corporate CEO of Inter, said: “We are very proud to announce this partnership today, an agreement that links us with a leading brand in its industry. This deal confirms the growth and the appeal of the Inter brand, despite all the challenges the Club is facing during the pandemic period.

“This jersey is of particular importance to us, since it is the first one with the Scudetto on our chest after so many years of waiting: this is a new milestone in our journey, and we are happy to celebrate it together with Socios.com and all our fans.”

“Luca Danovaro, CMO of Inter, said: “Our partnership with Chiliz and Socios.com is solidly based on core values that we share: technology, innovation and staying close to our fans.

“The exciting activations that we are designing together will enable us to succeed in engaging with young generations all over the world, an objective that became even clearer for us during these months, when we felt the overwhelming support of all the Interisti even with closed stadiums.”

“Alexandre Dreyfus, CEO of Chiliz and Socios.com, said: “The Inter Milan front-of-shirt is the perfect space for us to promote the start of this new partnership and build mass awareness of the opportunities for innovation and engagement created by the $INTER Fan Token.

“This is a special event. It’s the first time in more than a quarter of a century that the name on the front of the club’s shirt has changed. We’re very proud to be taking that privileged space to promote the launch of the $INTER Fan Token.

“Today’s announcement is the start of a new era for millions of Inter fans around the world, who will be able to join a thriving digital community on Socios.com, enjoying countless opportunities to engage with the team, influence key decisions and be rewarded by the club they love through $INTER Fan Tokens.”

Seems like they are trying to take advantage of the "average Joe dumb-profile" football fan`s attachment to each of these clubs.

Wouldn`t advise anyone to buy these tokens as their value will probably decrease in time once people realize they are worthles.

$INTER looks like $HIT. what a SINter.

 

[IM21]

so, it will last only 1 season. Great, next season we can have search for sponsors ep2.

 

[brightbackground]

so, it will last only 1 season. Great, next season we can have search for sponsors ep2.

Really? Source? Thank fucking God if so. It's humiliating having to stoop to some fucking cryptoscam, hopefully next year the situation is improved and we can go for a real sponsor.

 

[Black Knight]

Fishy indeed, company is registered in Malta like online betting / casinos.

U wot m8? Fite me IRL

 

[Ethor]

This has nothing to do with CCP.

So that info is going to make me feel better......Not.

 

[DARi0]

U wot m8? Fite me IRL

Do you even lift?

 

[CafeCordoba]

One year deal sounds good. We make top4 and knockouts in CL and I think we can rake a better deal next year. We might already have a new ownership by then.

 

[Ethor]

One year deal sounds good. We make top4 and knockouts in CL and I think we can rake a better deal next year. We might already have a new ownership by then.

Agreed, as long as their check clears...

 

[CafeCordoba]

I read from Twitter (Franco Vanni from La Repubblica) that it's a four-year collaboration deal. One year main sponsorship and then option for 3 more years. So if next season goes well, I guess we try to upgrade if the market is better by then.