Steemit Crypto Academy | Season 4 Week 1 Homework Post for @wahyunahrul | Socios.com
Hello everyone. Our world has been fighting a big epidemic for almost 2 years. I hope all of you are in good health. Stay healthy!
Today I will share with you the my homework given by the professor @wahyunahrul
1-)Explain in detail what is the Socios.com Platform?
Blockchain technology is developing day by day and its usage area is becoming more widespread. Recently, blockchain has also started to operate in the fields of arts and sports. In particular, the inclusion of the sports industry in the blockchain ecosystem has always produced advantageous results for both clubs and fans.
Fan Tokens were created by integrating blockchain technology into the sports field. We can say that the creator of these fan tokens is socios.com. These tokens are created with the CHZ systems. These tokens are launched through Socios.com. Of course, there is no obligation that every club will create fan tokens only on this platform.
Through Socios.com, fans can both support their club and have some privileges over the club they support through this platform. An example of these privileges is the fact that the fans can convey their ideas to some decisions to be taken by the club they support, by voting in the surveys on the platform. In addition, fans can buy the tokens of the club they support and use it as an investment and support their club. We can say that this platform, where you can even get some special discounts on the products of the club you support, is very advantageous for the fans.
Although it is still new, many famous clubs around the world are on the socios.com platform. Examples of these are clubs such as PSG, Barcelona, Atletico Madrid and Juventus. The club I support has also recently released fan tokens. The token was sold out in less than a day from the time it was released, and the club generated huge revenue. The club I'm talking about is Fenerbahçe. But it is not on the socios.com platform.
So how to buy tokens on the platform? Fan tokens are purchased using CHZ on the Socios.com platform. CHZ is an asset generated on the ethereum blockchain. CHZ can be stored in all ERC20 based wallets. You can also make purchases using your credit card on the platform. Glad to have this feature. Because chz works in the ethereum ecosystem, we may have to pay very high fees when transferring chz to the platform. Instead, we can make purchases with less commission by using a credit card.
2-)What are the effects when blockchain has entered the realm of the sports industry?
In today's world, one of the most changing and developing sectors is informatics. There may be situations where we use intermediaries to meet the needs we have and to do our work. We can already handle some tasks such as data processing and payment via blockchain without the need for any intermediaries. Blockchain technology can also be used efficiently in sports. I will write down the effects of Blockchain on the sports industry, or the possible effects.
Contracts: As you know, contracts are made between players, coaches and clubs. These contracts are made by obsolete traditional methods. Thanks to blockchain technology, these contracts can be made into smart contracts instead of traditional contracts. Thus, there is no need for any intermediary institution and the procedures can be carried out much faster.
Online Payment: With the Blockchain, the club's products and the tickets of the matches can be sold securely online. Controls can be provided at the stadium entrances via blockchain and the control of people who are prohibited from entering the stadium can be carried out without any problems.
IPO Transactions of Clubs: Sports clubs make public offerings of stocks just like companies, and the clubs provide financing. These transactions can also be carried out thanks to the secure data transfer over the blockchain. In addition, we can compare clubs selling fan tokens on the socios.com platform, which we mentioned in Question 1, to a club offering its stock to the public.
Prevention of Black Market Sellers: As you know, no matter where we are in the world, black market sellers are a big problem for both the club and the fans. These people buy the club's products or match tickets in large quantities and then sell them on the black market at very high prices. Thanks to blockchain payment systems, this can be prevented.
Data Storage Securely: Clubs can use blockchain to store their data. Blockchain can meet the security needs of clubs at the maximum level. For example, we frequently encounter the leak of club data during the transfer period.
3-)Is Socios.com a good prospect as an investment vehicle? Explain your personal opinion along with strong evidence.
Sports branches, especially football, are among the most popular hobbies all over the world. With the inclusion of blockchain and cryptocurrencies in the sports industry today, people have started to make significant investments in this sector. These investments can be realized thanks to fan tokens. These fan tokens are launched with the Socios.com platform. I think the Socios.com platform is definitely a good prospect as an investment vehicle. The reasons are:
Partnership Agreements
I think that the agreements made by the platform with clubs, countries or organizations are a sufficient reason for using it as an investment vehicle. Not all logos are found in the screenshot I shared above. There is much more available. Especially in the football sector, agreements have been made even with billion-dollar clubs. Agreements with clubs from all over the world have attracted hundreds of thousands of fans from all over the world and a global community has been created thanks to the platform.
Events & Rewards
If you have fan tokens on the socios.com platform, you are entitled to win some rewards. You can earn not only through the application, but also by following the social media accounts of the platform such as twitter and instagram. Of course, you must have a fan token and you must have a membership on the platform to receive the reward.
Rewards:
- CHZ or fan token
- Match tickets
- Meeting with the players
- Club-Stadium tour
- Signed Jersey
In addition, you have the right to express your opinion on some decisions about the club you support by voting in the polls. I will show this with screenshots in question 4.
4-)Explain the steps to install the Socios application in full and explore the various features in the application. (Screenshot Required)
I will show you the use of the features in the application with step-by-step screenshots. The application works on both iOS and Android operating systems. Since I am using Android, I will show the registration process through the play store.
Registration to Socios.com
Go to PlayStore and enter socios.com in the search.
Download the application to your device by clicking Install.
After opening the app, you will see the registration screen.
After entering the country code and your phone number, wait for the mobile confirmation code to arrive on your phone. After the confirmation code is received, enter it and proceed to the next step.
Enter your username and email here. Then tick the box and hit register. Make sure you entered the email correctly.
Your membership has been successfully created. Before entering the app, click on the confirmation link in your e-mail and do not forget to confirm the membership.
Predict
In this section, you can win xp by predicting the matches of the teams, and then you can win prizes with this xp. In order to make a prediction, you must have the fan token of the team you want to predict. Tokens are locked until the match is over.
On the homepage of the app, click on the predict tab at the top right.
From the screen that opens, select the country where the team you are going to predict is located. I choose Italy.
The teams on the socios.com platform in the country we selected will be listed. I choose Juventus.
Here, the matches of the team you selected will be listed.
Finally, the screen where you can guess will open. You must have a fan token in your wallet to be able to predict. The fan token is locked until the match is over.
Vote
While making some decisions, the team consults the decision of their supporters on socios.com. In this section, you can direct some of the club's decisions by participating in the surveys.
Click vote from the tabs above on the homepage of the app.
This section lists the decisions teams have asked the fans.
For example, in the survey I opened, fans are asked what numbered jersey they want the player to wear. To be able to participate in the survey, the team's fan token must be in your wallet.
Market
In this section, you can exchange the fan tokens and check the price changes.
From the homepage of the app, click on market from the tabs above.
Fan tokens are listed on the page that opens. Here you can select the fan token you want to trade.
Wallet
In this section, you can perform token withdrawals, deposits, buying chz with a credit card and transaction history to your wallet.
Click on wallet from the following tabs from the homepage of the app.
- A: It is the tab where you can send tokens to another wallet by clicking on it.
- B: It is the tab where you can deposit tokens into your wallet on socios.com by clicking on it.
- C: It is the tab where you can upload chz to your socios.com wallet with a credit card.
- D: This is the tab where you can view the transactions you have performed on Socios.com.
Hunt
In this section we can earn daily token rewards.
Click on hunt from the following tabs from the homepage of the app.
This section may sound a little familiar to you. In games such as Harry Potter and Pokemon GO, you used to go to the locations on the map and catch pokemon or you were making wars. Socios.com has this feature and you get rewards by going to places on the map. To use this feature, you need to open a location app.
Feed
In this section, you can find information about clubs and new partnership agreements. These news may give you clues as to whether the token's value will up or down.
Click on feed from the following tabs from the homepage of the app.
Rewards
In this section you can view the badges with which you have earned XP. There is also information about what you need to do to earn badges.
Click on rewards from the following tabs from the homepage of the app.
As I mentioned above, badges are listed and below are the requirements for earning the badge. You can also check your ranking in the leaderboard section. If you rank high in this ranking, you can win the awards we mentioned before, such as tickets, stadium tours, jerseys. In SS, It says it will be active soon.
General Account Settings
In this section, you can perform profile details such as identity verification, profile details, inviting friends, and security.
Click on the profile from the top left corner of the app.
You can perform the action you want to do from the opened tab by selecting it.
5-)Choose a Fan Token in the Socios application and do a detailed fundamental analysis. (Screenshot Required)
In this question, I will analyze the PSG token, which is in a partnership agreement with socios.com.
First, I want to talk about the PSG fan token. The PSG fan token was released on January 28, 2020 in partnership with PSG and socios.com. The PSG fan token works as a side chain on the ethereum blockchain. This utility token, which is used to access some services and products, cannot be mined. It can be earned with the hunt we mentioned in the features of the socios.com application in the 4th question. By buying this token, fans can support the club and also benefit from rewards such as match tickets, stadium tours, signed jerseys.
CoinMarketCap
CoinMarketCap Rank: 413
Current Market Cap: $88,828,024
Current Volume: $32,587,114
Circulating Supply: 2,906,337 PSG
Total Supply: 20,000,000
PSG's volume is a little low right now. But I think that the rapid decline of bitcoin in the past few days has caused this. In the coming days, the club's performances in the champions league and the french league may increase the volume and value of the token.
PSG Fan Tokens Markets
PSG Fan tokens can also be purchased on the socios.com platform.
Situations Affecting PSG Fan Token Price
- Transfer News: Transfer news of teams increases the value of fan tokens. As an example, we can give the PSG transfer process of Messi, one of the best football players in the world. On 6 August 2021, news broke that Messi left Barcelona. PSG, on the other hand, wanted to add Messi to its squad for about 2 years. Upon these news, there were incredible increases in PSG Fan Token.
News that Messi joined PSG on 11 August 2021
Price change after news
05 August 2021 PSG Fan Token Price: 21.77$
11 August 2021 PSG Fan Token Price: 61.57$
Price Range: %180.99
- Price increases during the match: During the matches played by the clubs, there may be sudden increases in the token price. As an example, we can give the match Bayern Munich - PSG on April 7, 2021. PSG won that match 3-2, and there were instant high increases in prices.
April 7 2021 Pre-match token price: 23.75$
April 7 2021 End of match token price: 39.45$
Price Range: %66.12
Conclusion
Blockchain technology is constantly changing and developing. The use of this technology in the field of sports has brought about many changes in economic matters, payment systems and data storage. In this assignment, we learned how the socios.com platform provides advantages to fans and clubs. Since football is among my hobbies, this homework was fun and instructive for me.
Thanks
CC:
@wahyunahrul