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SARACENS’ PARTNERSHIP WITH SOCIOS.COM
YOUR QUESTIONS ANSWERED
Please note: $SARRIES Fan Tokens are a form of cryptoasset. To acquire fan tokens, you must download the Socios.com app, purchase the cryptocurrency, Chiliz ($CHZ), and exchange this cryptocurrency for $SARRIES fan tokens.
Although we only promote $SARRIES Fan Tokens as a tool to engage with the club, we recognise that a secondary market for trading does exist. As such, we remind you that:
(a) the value of cryptoassets is variable and can go down as well as up;
(b) cryptoassets are unregulated in the UK;
(c) capital gains tax may be payable on any profits made on the sale of cryptoassets.
The decision to open a cryptoasset exchange account on the Socios.com app and purchase $CHZ and/or $SARRIES fan tokens requires careful thought and consideration. We advise you to spend only what you can afford to lose, and always seek independent financial advice if you are in doubt. You should not purchase any cryptoassets if you do not fully understand the nature of your purchase and the risks involved. We recommend that you refer to the Socios app Terms and Conditions and Help Pages for more information.
ON 18 JULY, SARACENS ANNOUNCED A PARTNERSHIP WITH SOCIOS.COM, A GLOBAL LEADER IN DIGITAL FAN ENGAGEMENT AND REWARDS.
Through its platform, Socios provides Saracens supporters around the world with access to an array of rewards, new opportunities for engagement, even more access to the club and Saracens players, and a community where you can engage with other fans.
Below we have provided answers to a number of common questions raised by our supporters to help address any concerns.
Saracens have announced a multi-year commercial partnership with Socios.com, a leading global digital fan engagement and rewards platform. It will see the launch of a new digital-based fan reward programme, designed to allow Saracens supporters around the world to interact with the club through a series of competitions, fan experiences on matchdays and non-matchdays, and votes in competitions and polls.
Supporters are able to take part in the programme by buying a Saracens Fan Token. Seasonal Members will be provided with a free Fan Token, which they can agree to accept or not. No supporter is obliged to have any involvement should they not wish.
Socios.com is a leading global fan engagement platform with 1.5m users in more than 150 countries. It has over 170 partners in 25 countries across 10 sport verticals, comprising American football, basketball, cricket, football, gaming, ice hockey, MMA, motor sports, tennis and, of course, rugby union. With the likes of Barcelona, Arsenal, Paris St-Germain and the Aston Martin F1 Team as partners, there has been a huge amount of global interaction with the platform already. Socios.com launched its first partnerships with fellow Premiership rugby union clubs, Leicester Tigers and Harlequins, on the same day as Saracens.
Saracens has a benefits and rewards programme for Saracens supporters, Saracens Rewards, that has been in operation for several years. The programme recognises and rewards supporters’ activities and interaction with the club, e.g. earning reward points for attending matches at StoneX Stadium and purchasing merchandise. Supporters are then able to use their reward points to contribute to additional ticket and merchandise purchases.
Our Socios.com rewards programme is for all of our supporters around the world. The Socios.com platform also provides token holders with access to a global community of fans of other sports, and the opportunity to engage with other clubs of different sports.
Our team will be working hard with Socios’ team to provide great prizes and rewards through Socios.com, all of which will be additional to what is available through the Saracens Rewards programme.
Each Saracens Seasonal Member will be provided 1x free Saracens Fan Token as part of the Socios.com partnership. They do not have to use this if they choose not to.
This is primarily a proven digital fan engagement tool that will help the Club interact with fans around the world, but notably, Socios data shows that more than 50% of Socios.com’s users are aged between 24-34 years old, a key audience for the Club to engage as we seek to grow in the future.
Socios.com provides an intuitive platform that allows Saracens to deliver more opportunities for supporter engagement, via polls on supporter community decisions, games and community features. The more supporters engage with their clubs and each other, the more they can claim rewards such as signed merchandise, VIP tickets or access to experiences. This enables supporters to form communities with fellow Club followers, and given the size and scale of the platform, and the number of global users, it will help us grow our supporter base and make us stronger as a club.
This is also an important commercial partnership and a key pillar of growth as the Club rebuilds from COVID-19 and continues on a journey to be financially stable.
Supporters wishing to take part can purchase a Saracens Fan Token, with all 2022/23 Seasonal Members receiving a token for free.
Fan Tokens are digital assets which give holders access to rewards, access opportunities and the right to vote on official team polls. A single Fan Token is all you need to participate in polls related to the club, however certain rewards and experiences will be “token-gated” and therefore require you to own more than one token in order to be eligible to win. The exact number of tokens one will need to own for these select rewards and experiences will be determined on a case-by-case basis. The number of tokens that can be used for some fan related polls will be capped at one to ensure that decisions are shaped by all supporters within the community.
The new Fan Tokens will be accessible via Socios.com’s fan engagement and rewards platform, providing Fan Token holders with an array of rewards, new opportunities for engagement through polls, greater access to their club and its players, and a community where they can build networks with other supporters.
Fan Tokens will be made available through a fixed initial Fan Token Offering (FTO) price of £2. There is a set number of Fan Tokens available.
Saracens don’t encourage our supporters to use Fan Tokens to try and make money, and Socios.com makes clear that they should not be used for financial investment.
Fan tokens are not an investment product, they are a utility asset. Their value is in how fans can use them to engage further with the club and access the unique polls and experiences. Fan tokens were not created for the purpose of generating profit for its holders. They are entertainment products rather than items of speculation.
Socios.com data shows that the average user holds 2.5 Fan Tokens and 80% of Socios.com users own less than five Fan Tokens.
Our focus is on making Saracens Fan Tokens provide supporters with great experiences and rewards. The value comes from this utility.
Yes, fans can buy more than one Fan Token.
One Fan Token is enough to participate in every Socios.com-related poll linked to Saracens. Owning more Fan Tokens essentially qualifies you for greater rewards and, in the case of some polls, greater influence.
All polls have token caps, which essentially limit the relative influence a token holder can have and for some fan related polls the tokens will be capped at one.
Saracens has chosen to partner with Socios.com as they are the market leader in the fan token space and focus on digital fan engagement. Of course, if a fan doesn’t want to buy one, they don’t have to. Fans who do choose to buy their Fan Tokens do so to become more involved with their club.
Importantly, Fan Tokens are purchased for a one-time fee and do not need to be renewed. The true value of the token – which comes in the opportunities and rewards offered to fans through the Socios.com platform – is not affected by the wider crypto market, as it is about the rewards and experiences on offer to token holders.
Yes, the market remains unregulated and therefore the price of fan tokens goes up and down based purely on supply and demand. It is important to stress that Fan Tokens are not investment tools – it is a fan engagement and rewards product that will unlock experiences for $SARRIES token holders, such as the opportunity to vote on the name of the new West Stand at StoneX Stadium, vote on the colour way of the 24/25 kit, and chances to win tickets, hospitality and merchandise. Do not purchase fan tokens for investment purposes and only purchase the amount of fan tokens that you feel comfortable with financially.
Socios.com Fan Tokens are created on the Chiliz blockchain, which is moving to a ‘proof of stake’ model that is estimated to be 99% more energy efficient than the more widely used ‘proof of work’ model that has traditionally been used.
FURTHER INFORMATION: KEY FACTS ABOUT SOCIOS.COM
- Socios.com has over 1.5 million users in 167 different countrie
- More than 50 percent of the Socios.com users are aged between 24-34 years old.
- Average user holds Fan Tokens of 2.5 partners.
- Around 80 percent of Socios.com users hold under 5 Fan Tokens in total
- Around 50 percent of Fan Token holders vote regularly on Fan Polls
- 300 polls were launched in 2021
- 5,000 fans were rewarded with tickets, merch, experiences, etc.
- In 2022, over 500 fan polls have already been launched and Socios.com plan on giving away 17,000 rewards, from official products and match-worn jerseys to free tickets and VIP experiences.
- Socios.com has over 170 partners in 25 countries across 10 sport verticals: American Football, Basketball, Cricket, Football, Gaming, Ice Hockey, MMA, Motor Sports, Rugby and Tennis.