The Cleveland Cavaliers basketball team has joined the fan token platform. Socios

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“This is the beginning of an exciting partnership that we believe will eventually lead to greatly enhanced fan engagement for Cavaliers fans all over the world,” Socios and Chiliz CEO Alexandre Dreyfus said.

Socios, the blockchain-based platform that has tokenized many sports franchises around the world, has partnered with the Cleveland Cavaliers of the National Basketball Association.

In a Monday announcement from blockchain-based sports platform Chiliz, Socios said its logo will be prominently featured on Cavaliers’ team jerseys for the upcoming season, scheduled to begin later this year. The platform also said it was currently in the review and development phase for “fan engagement elements” for the team, purportedly referring to tokens or digital collectibles.

“This is the start of an exciting partnership that we believe can eventually lead to greatly enhanced fan engagement for fans of the Cavaliers around the world,” said Socios and Chiliz CEO Alexandre Dreyfus. “Chiliz.com is fast developing into a global fan engagement powerhouse, where passive fans are being transitioned into real players in the day-to-day activities of their favourite teams.”

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The announcement by Socios comes as basketball teams in Canada and the United States appear to be attempting to bring sports deeper into the crypto space. The Portland Trail Blazers will reportedly have the logo of cryptocurrency rewards company StormX on their team jerseys for the next five years, beginning with the current season. The Canadian Elite Basketball League also announced last month that beginning next week, players from its seven teams will be able to accept a portion of their salaries in Bitcoin (BTC).

The announcement by Socios comes as basketball teams in Canada and the United States appear to be attempting to bring sports deeper into the crypto space. The Portland Trail Blazers will reportedly have the logo of cryptocurrency rewards company StormX on their team jerseys for the next five years, beginning with the current season. The Canadian Elite Basketball League also announced last month that beginning next week, players from its seven teams will be able to accept a portion of their salaries in Bitcoin (BTC).

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