Leicester Tigers gets in on the crypto grift...

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

Post by wigworth »

Murphy do you know who actually controls the supply of the actual Leicester fan tokens? Is this managed on Socios end or by the club?
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Re: Leicester Tigers gets in on the crypto grift...

Post by murphy15 »

Darc Tiger wrote: Tue Jul 19, 2022 1:24 pm Fair enough. We are getting a bit into the weeds with my wider grievances with crypto.

On a more localised basis, a major concern should be around monetising of fan access/engagement. Perhaps on the face of it this is a more appealing to a Premier League club, where the barrier between fans and the club/players is much greater. At Leicester Tigers, I fear of a slippery slope away from what we already have by introducing an unnecessary middleman and gated access. As well of monetising engagement that the club should probably be doing for free, or at least in a more transparent and organic way.

Not to mention I'm unclear how much the club benefits financially, and how much Socios does. What is the cut? Does Socios just pay a lump sum for sponsorship and all transactions go to them? Does the club even get a cut of subsequent token purchases? How sensitive are the costs of buying tokens relative to the value of the Chiliz backing the system?
You've pretty much said the same as I did earlier here - so we are at least in agreement on its (lack of) place at Tigers. It just makes no sense at all.
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murphy15
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Re: Leicester Tigers gets in on the crypto grift...

Post by murphy15 »

wigworth wrote: Tue Jul 19, 2022 1:36 pm Murphy do you know who actually controls the supply of the actual Leicester fan tokens? Is this managed on Socios end or by the club?
It will be a finite supply as agreed between Socios and Tigers - they'll have to advertise what that number is, under what conditions tokens might be burned (destroyed) in future, and if there are any conditions that could trigger extra tokens being made available, as the introduction of more tokens would likely dilute the base token value.
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wigworth
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Re: Leicester Tigers gets in on the crypto grift...

Post by wigworth »

murphy15 wrote: Tue Jul 19, 2022 1:49 pm
wigworth wrote: Tue Jul 19, 2022 1:36 pm Murphy do you know who actually controls the supply of the actual Leicester fan tokens? Is this managed on Socios end or by the club?
It will be a finite supply as agreed between Socios and Tigers - they'll have to advertise what that number is, under what conditions tokens might be burned (destroyed) in future, and if there are any conditions that could trigger extra tokens being made available, as the introduction of more tokens would likely dilute the base token value.
This is really where the main risk is imo and needs to be very clearly communicated, if you know what you are doing you can easily hedge out any risk on the $CHZ side of things. Are you at all familiar with the Socio platform? For instance is there an order book for the fan tokens?
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Re: Leicester Tigers gets in on the crypto grift...

Post by Scott1 »

Tigerbeat wrote: Tue Jul 19, 2022 1:35 pm
Scott1 wrote: Tue Jul 19, 2022 1:27 pm No,carry on with the crypto talk please guys,its very interesting! Plus it references crypto in the header. Is that OK Tigerbeat?
This is Tigers related so open for discussion.
Thanks 👍
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murphy15
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Re: Leicester Tigers gets in on the crypto grift...

Post by murphy15 »

wigworth wrote: Tue Jul 19, 2022 1:54 pm
murphy15 wrote: Tue Jul 19, 2022 1:49 pm
wigworth wrote: Tue Jul 19, 2022 1:36 pm Murphy do you know who actually controls the supply of the actual Leicester fan tokens? Is this managed on Socios end or by the club?
It will be a finite supply as agreed between Socios and Tigers - they'll have to advertise what that number is, under what conditions tokens might be burned (destroyed) in future, and if there are any conditions that could trigger extra tokens being made available, as the introduction of more tokens would likely dilute the base token value.
This is really where the main risk is imo and needs to be very clearly communicated, if you know what you are doing you can easily hedge out any risk on the $CHZ side of things. Are you at all familiar with the Socio platform? For instance is there an order book for the fan tokens?
Yes, you'll be able to see transaction history, circulating supply etc. on Etherscan. Here's the PSG one, for reference: https://etherscan.io/token/0x95c1d6b745 ... eabd67c869

Or, for a slightly less, er, intense look at an overview, Coinmarketcap has a trading history: https://coinmarketcap.com/currencies/pa ... fan-token/
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wigworth
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Re: Leicester Tigers gets in on the crypto grift...

Post by wigworth »

murphy15 wrote: Tue Jul 19, 2022 2:30 pm
wigworth wrote: Tue Jul 19, 2022 1:54 pm
murphy15 wrote: Tue Jul 19, 2022 1:49 pm

It will be a finite supply as agreed between Socios and Tigers - they'll have to advertise what that number is, under what conditions tokens might be burned (destroyed) in future, and if there are any conditions that could trigger extra tokens being made available, as the introduction of more tokens would likely dilute the base token value.
This is really where the main risk is imo and needs to be very clearly communicated, if you know what you are doing you can easily hedge out any risk on the $CHZ side of things. Are you at all familiar with the Socio platform? For instance is there an order book for the fan tokens?
Yes, you'll be able to see transaction history, circulating supply etc. on Etherscan. Here's the PSG one, for reference: https://etherscan.io/token/0x95c1d6b745 ... eabd67c869

Or, for a slightly less, er, intense look at an overview, Coinmarketcap has a trading history: https://coinmarketcap.com/currencies/pa ... fan-token/
Thanks but not quite what I was getting at but I set an account up and found out.
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Re: Leicester Tigers gets in on the crypto grift...

Post by murphy15 »

wigworth wrote: Tue Jul 19, 2022 2:33 pm
murphy15 wrote: Tue Jul 19, 2022 2:30 pm
wigworth wrote: Tue Jul 19, 2022 1:54 pm

This is really where the main risk is imo and needs to be very clearly communicated, if you know what you are doing you can easily hedge out any risk on the $CHZ side of things. Are you at all familiar with the Socio platform? For instance is there an order book for the fan tokens?
Yes, you'll be able to see transaction history, circulating supply etc. on Etherscan. Here's the PSG one, for reference: https://etherscan.io/token/0x95c1d6b745 ... eabd67c869

Or, for a slightly less, er, intense look at an overview, Coinmarketcap has a trading history: https://coinmarketcap.com/currencies/pa ... fan-token/
Thanks but not quite what I was getting at but I set an account up and found out.
Must've misunderstood then!
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Old Hob
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Re: Leicester Tigers gets in on the crypto grift...

Post by Old Hob »

The view of an Arsenal supporter:

"This is the essence of all crypto and NFT schemes where the item you’re buying has no utility and no intrinsic value. So the real purpose of Socios is simple: it’s to make the people who invented the crypto-currency that Socios uses richer. They want you to buy Chilliz, then buy Socios tokens with that, and they want you to believe that the price of both these things will go up. They want you to think that something they’ve invented has some value, and will have more value soon, so buy it now while it’s cheap. And if enough people believe that the price will go up, then there will be enough demand for the ‘product’ that the price does go up. Then Socios can decide whether to make money by flooding the market with more tokens to meet demand, taking the value of every token and commission on every trade, or restrict the supply to try and keep the price high and generate interest. And speculators can decide at what point exactly to dump what they own and move onto the next hyped-up worthless digital token to make a killing there.

The whole scheme relies on a constant supply of new mug punters to come in and buy, always with the promise that the price will go up, whatever level it’s currently at. It’s a classic pyramid scheme rebadged for the digital age.
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Re: Leicester Tigers gets in on the crypto grift...

Post by Wayne Richardson Fan Club »

Pyramid/Ponzi...describe as you see fit....

Truly a bizarre collaboration.

Do we presume then that actually getting some sort of interaction with the club/players without being a "mark" in this scheme will become even more rare.

I wonder what our Ground Sponsor makes of these schemes?
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Ian Cant
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Re: Leicester Tigers gets in on the crypto grift...

Post by Ian Cant »

Strange decision by the club particularly after the fans felt the club were getting back to its core values last season.
Personally I cannot see the point of doing this and can see it alienating some fans.
Just when we all thought things were going so well on and off the pitch this happens!
All I want to do is proudly support Tigers home and away hoping we keep our current squad together for many seasons to come.
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Re: Leicester Tigers gets in on the crypto grift...

Post by tigerburnie »

I shalln't need any as I won last nights euro lottery, however I won't be buying the club as I doubt they will sell it to me for £2.70..................................... :smt003
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Re: Leicester Tigers gets in on the crypto grift...

Post by bendy »

Q&A posted on the club website today. At the point where you're having to justify why you've done something due to negative fan reaction, you'd hope the club are starting to question whether this is the smartest idea in the world.

If (as stated) the only aim is to give better fan engagement, surely there are several easier ways to do this. Someone in this thread suggested a raffle, for example.
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Re: Leicester Tigers gets in on the crypto grift...

Post by Darc Tiger »

The club has posted an extended ad-read from Socios, masquerading as an update regarding fan feedback on the partnership.

https://www.leicestertigers.com/news/le ... s-answered
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Re: Leicester Tigers gets in on the crypto grift...

Post by johnthegriff »

On the club web site news the Tigers have explained their involvement with this scheme and the reasons why. Personally I am still very much against the scheme but I suggest you read what they say and make up your own minds.
Apparently the idea is to engage with fans in the digital community on a global basis, i think reading certain threads on this forum and addressing the issues raised by fans that actually attend matches should be a priority for the club. The scheme proposes competition for holders of tokens to enjoy match experiences one of which I have seen suggested is to sit with coaches and players on the bench, I would love to do that but frankly that is no place for a fan, winning a game is a serious business and nothing should distract from that, terrace and seats are the right places for fans the bench is for business. If Steve
Borthwick agrees to that idea he is not the man I think he is.
I do realise that the club need to increase revenue by all means possible from all sources but I am concerned about how they do it and whether as a season ticket holder my personal details are being passed to another company under the guise of being gifted a single token.
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