Leicester Tigers gets in on the crypto grift...

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Wayne Richardson Fan Club
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Re: Leicester Tigers gets in on the crypto grift...

Post by Wayne Richardson Fan Club »

If all Season Ticket Holders decline their "Token" & no one else buys one, the whole thing will be dead in the water.
It would be interesting to know if this was "Road Tested" with any fans before the deal was signed....too late now no doubt would cost the club money to back out.
Sales of the training kit might be sluggish.
To win is not as important as playing with style!
Darc Tiger
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Re: Leicester Tigers gets in on the crypto grift...

Post by Darc Tiger »

By the 'global community' comments they pretty much give the game away. Nobody who is a big PSG fan who is really into crypto is gonna be interested in Leicester Tigers because of this. Speculative assets for some random guy in Turkey. The global Tigers fanbase does not need cryptocurrency to feel connected to the club.
Nofrontteeth
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Re: Leicester Tigers gets in on the crypto grift...

Post by Nofrontteeth »

I see Musk has dropped out of cryptocurrency - big turn around
Darc Tiger
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Re: Leicester Tigers gets in on the crypto grift...

Post by Darc Tiger »

Quins have put out an almost identical 'statement' by the way...
LittleBigG
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Re: Leicester Tigers gets in on the crypto grift...

Post by LittleBigG »

It makes you wonder if they actually read that press release before putting it up? It reeks of boilerplate FAQs from Scamios (which should set alarm bells ringing straight away - why should something as innocent as a "fan token" require a lengthy set of FAQs?)

Also, because I'm a boring git, I actually decided to read through their website...



Leicester Tigers do not encourage our supporters to use Fan Tokens to try to make money, and Socios.com makes clear that they should not be used for financial investment yet from the Scamios website... Fan Token Offering (FTO®) refers to the period when a number of Fan Tokens are made available at a fixed price before they reach the marketplace

So hold on... QUICK GIVE US YOUR MONEY else you MIGHT end up having to pay more! (of course it could just tank...). Okay, at the end of the day, the token itself 1 $TIGERS = 1 $TIGERS - once you have acquired them (unless they the company goes insolvent and then any "worth" vanishes in a puff of smoke)


To purchase Fan Tokens, you must use Socios.com’s in-app currency called Chiliz ($CHZ). First, you need to buy $CHZ, and then you can exchange it for any Fan Token on the Socios platform
Why. Why is it opaque like this? Why can I just not directly buy a "fan token" directly using my credit/debit card?
(Hint: This bit is where the grift is! The whole thing comes tumbling down when they are unable to "onboard" more clubs/teams or when the VC cash dries up)


The decision to open a cryptoasset exchange account on the Socios.com app and purchase $CHZ and/or $TIGERS 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
A statement like this should NEVER be something that appears on, let me remind us all, fan engagement! Fine, if Tigers want to "monetise their fanbase" more, why is there a "market"? Why not just sell the damn things for £2 and store the transaction against the user in a relational database? How is it beneficial for anything fan-based to fluctuate in price throughout the season? (beneficial for anyone other than Scamios, that is...)

Which funnily enough makes this point interesting:
More than 50 percent of Socios.com users are aged between 24-34 years.
Could this age group possibly be the age group with least fiscal responsibility/obligations, who are less risk-averse? NO! Say it isn't so! (I should know... I've only just left it :smt005 )


All polls have token caps, which essentially limit the relative influence a token holder can have and Owning more Fan Tokens essentially qualifies you for greater experiences and, in the case of some polls, greater influence
This reads very much like the "greater experiences" will be announced after everything flicks to "market rate". It doesn't take a lot of searching to find numerous scams, sorry, schemes like this that have spiked (FOMO of amazing experiences!!!) and then crashed. Of course... Just because John Smith feels aggrieved because he paid £10 for his two "fan tokens", but Joe Bloggs has just paid £2 for two (because of fluctuations) I'm sure that doesn't matter, because, at the end of the day, 1 $TIGERS = 1 $TIGERS I guess...


Fan Tokens are built on blockchain technology but are not specifically a cryptocurrency
If it walks like a duck, and quacks like a duck... See: Terra/LUNA for what happens eventually to this kinda setup. Nothing about this concept ("fan tokens") requires blockchain to implement it. In fact, all it is doing is adding inefficiencies/complexity/obfuscation to a simple concept


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
Yada yada yada... indeterminate date in the future and 99% more efficient that then whole of the Netherlands is just something say, the size of Slough (including all industry) - wonderfully efficient! (don't forget the mountain of e-waste that it generates!)




Oh, and some nice snippets from Reddit (literally the Chiliz subreddit...)
I sent some $chz from Socios.com to the Chiliz exchange about a week ago. The transaction is still pending and the $chz seems to be locked on Socios.com.

I tried reaching out to the team through through telegram and twitter but no one has helped me so far. I hope I’ll have more luck here🥲

Could someone explain how to get it to go through? Thank you!

- i find the exchange can help at least find the crypto, if its stuck in the shadow realm Socios probably cant help you, mightve been some erc-20 trickery

- Yeah I know, but I’ve been trying to get in touch with the socios.com exchange and none of them are answering me. All I see are scammers spamming me in my dm. If I could at least talk to them and they let me know that the fund is lost I would understand. But now I’m just confused 😕


...doesn't exactly sound user-friendly...

Hi Guys. Hope everyone is doing okay?

Some positive news: $CHZ is keeping up pretty well, relatively speaking, in this bear market 2022. Check out the performance for 7d, 30d, 60d, 90d and YTD vs. major crypto assets here:

https://twitter.com/PlaymakerChiliz/sta ... 6424947714

The $CHZ supply is being held pretty stable in 2022 so far, no major unlocks, that has certainly helped to reduce the selling pressure on the way down.

Relative strength in bear markets is a good sign for future bull markets. Let's hope this will be the case for $CHZ.

Have a great day everyone

Cheers

Playmaker


Hey Guys 😊

I just shared my bull market 2020/21 observations and learnings on Twitter. Mabye this is useful for some of you guys in here as well. The next bull market will come, the only question is when. Let's be prepared in any case - maybe my thread can help some you to avoid some common mistakes and build the right mindset for when the party starts again.

Especially for Chiliz I saw many people who bought the top after the crazy price increase of $CHZ in the first part of the bull run. Let's all learn together, educate each other and get better for when the bulls return. I do think $CHZ still has great potential, but every individual investor also has to play his own cards right.

Hope it can help some people! :)
Playmaker


It's okay! Socios assured us it wasn't about making money!





The concept, although I'm not interested in it, is perfectly fine, kinda "shares but not shares" which gives you perks (is it really any different to getting prawn and cucumber sandwiches in the posh seats?) the implementation, however, need to get in the bin. :smt012

Leicester Tigers, we ask again - are you SURE that this is the kind of company you want to be associating with?
Jeremy Anderson
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Re: Leicester Tigers gets in on the crypto grift...

Post by Jeremy Anderson »

Very disappointing by Tigers - I am concerned that some fans who think they are supporting Tigers will lose money. I fear the marketing campaigns to get supporters to buy more tokens will lead to problems particularly as any money invested is subject to the ups and downs of a crypto currency. As you can only buy Tigers tokens in Socios crypto currency, I assume when you sell your Tiger tokens you end up with the same crypo currency and so the amount of real money you get will depend on their market valuation at the time. Off course if you regard all Tiger token purchases as money lost and worth paying for the benefits you get from Tigers fair enough but then why do you need Socios involved? It feels too much like a slick sales pitch to the Tigers Board who got excited about something they do not understand.
I hope all fans ignore this scheme and that season tickets holders are given an opt-out which means their details are not passed to a third party without explicit consent.
Jez

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Re: Leicester Tigers gets in on the crypto grift...

Post by TiltonTiger »

I’ve just sent this to them:

To whom it may concern:

Please reconsider this ‘partnership’ with Socios. It’s not welcome by the vast majority of people expressing opinions on the fans’ forum or on Facebook.

These are unedifying Ponzi schemes. It seems that you got rid of the gambling site as a sponsor which was excellent news, but whilst I suspect these crypto tokens aren’t as bad as those ghouls, I don’t want to spend my time on the Crumbie thinking that the executive team of the club regards me and my family and other season ticket holders as mere cash cows to be exploited at every opportunity.

The statement in response to queries from fans that has been published on Facebook is merely insulting. It is identical to that on the Quins site, which simply demonstrates that you can’t even be bothered to take this seriously. Presumably that statement was written by Socios themselves? They are probably pretty used to having to churn it out every time a different club announces a partnership with them.

If you are that hard up for money, you can have the £2 back from me. I don’t want a token.

And I will not but any merchandise from the club shop that is disfigured by the Socios brand.

Sincerely,

I doubt it will change the price of fish but it was cathartic
LittleBigG
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Re: Leicester Tigers gets in on the crypto grift...

Post by LittleBigG »

Jeremy Anderson wrote: Thu Jul 21, 2022 5:30 pm Off course if you regard all Tiger token purchases as money lost and worth paying for the benefits you get from Tigers fair enough but then why do you need Socios involved? It feels too much like a slick sales pitch to the Tigers Board who got excited about something they do not understand.
This is key - for me, it's not about the money, it's about the blood sucking leech on the side...

Two scenarios:
- Tigers said that it's £2 nonrefundable, direct to the club for a "lifetime fan token", the utility of this would last as long as the club exists
- £2 via "lifetime fan token" via Socios "scheme", this would exist until the point that (when) Socios goes bust

Both scenarios end up with no actual cash, but only one ends up with absolutely nothing. I loathe giving any semblance of legitimacy to a "company" like this, which will more than likely not exist in a few years. Yes it is almost certainly only beer money amounts, but that is not the point. Companies exist to make money; the only way Socios "makes" money is from the inflow of new tokens (unless Tigers have paid them for this rubbish too! 🤬) everything else is speculation and grift
Jeremy Anderson wrote: Thu Jul 21, 2022 5:30 pm I hope all fans ignore this scheme and that season tickets holders are given an opt-out which means their details are not passed to a third party without explicit consent.
We will not get asked as I suspect that they know the answer already and this *might* fall under "legitimate interest" under GDPR. An explicit opt-out request though may have to be treated differently though
ourla
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Re: Leicester Tigers gets in on the crypto grift...

Post by ourla »

Remember StubHub.

This is not a good idea IMO.

Certainly nothing I will be getting involved with,
VernonAtrium
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Re: Leicester Tigers gets in on the crypto grift...

Post by VernonAtrium »

A video game tried doing something similar years ago, built around an online 'auction house' where players could sell items found in-game for in-game money, which could be exchanged for 'real money.' The vast amounts of fraud that ensued nearly wrecked the game and the company that made it, so the scheme was rapidly dropped.

I'm sure this Tigers thing is totally different.
aslongaswebeatsaints
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Re: Leicester Tigers gets in on the crypto grift...

Post by aslongaswebeatsaints »

Not for me I’m afraid. And even as a ST holder I will not be risking my personal data to get a “free token”.

To borrow a proverb “if it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck”. As such, my personal opinion is this looks like, swims like and quacks like a crypto pump and dump. It’s looks like a crypto company that has found a clever way to get a branch of society (sports fans) to buy their crypto currency to then buy into a secondary market of digital tokens whose rising value relies on getting more people to buy.

I don’t believe this is about “fan engagement” and think it is extremely disingenuous to suggest so. It’s about getting enough mugs to continue to pump up a crypto asset for others to leave at a profit. Probably by dazzling sports clubs with the amount of money they MAY make and the promise of wider “ fan engagement”. And exploiting the psychology of fan loyalty - there are some very disgruntled sports fans out there. And the ASA report on Arsenal is very enlightening.

Even the “free token for ST holders” seem dodgy to me. I assume you have to hand over your personal details (that have a value) to create the account to get the token so they are not “free” at all.

And what’s the point? There are many excellent apps, social media platforms etc to create “fan engagement”? that don’t involve the steps of buying an obscure crypto currency to buy an even more obscure “fan token” to earn the right to take part in a poll, enter a competition etc.

I may be wrong and am happy for someone to challenge me over this, but nothing released has convinced me otherwise so far.
kpj tiger
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Re: Leicester Tigers gets in on the crypto grift...

Post by kpj tiger »

So the first thing to be held to ransom is the opportunity to have input on the club tie

https://twitter.com/LeicesterTigers/sta ... 7003840512
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Re: Leicester Tigers gets in on the crypto grift...

Post by ads »

Not gone down well on Twitter either!!
HandOfBack
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Re: Leicester Tigers gets in on the crypto grift...

Post by HandOfBack »

Absurd we are expected to sign up to a crypto scam to vote for a tie. Would be interesting to hear the club respond to all the negativity rather than ignoring it and putting out a "FAQ"...
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Re: Leicester Tigers gets in on the crypto grift...

Post by TigerFeetSteve »

HandOfBack wrote: Fri Jul 29, 2022 8:39 pm Absurd we are expected to sign up to a crypto scam to vote for a tie. Would be interesting to hear the club respond to all the negativity rather than ignoring it and putting out a "FAQ"...
https://twitter.com/Stevros3/status/155 ... vpAAw&s=19

A vote on Twitter you don't need to have any cryptocurrency for.... guess which way that vote is going...
Used to run around with an 11, 14 or 15 on my back.
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