In the world of digital assets and blockchain technology, the potential for transformation knows no bounds. Industries are exploring these new opportunities, and the sports industry, in particular, has embraced this transformation. Many sports clubs and athletes have seen the potential to connect more closely with their fans through blockchain technology.
This has given rise to Fan Tokens, a cryptocurrency that empowers fans to engage more deeply with their favorite clubs and players, even allowing them to have some influence. The Flamengo Fan Token (MENGO) is a digital currency designed to foster a strong and meaningful connection between fans and the Brazilian football club, Flamengo.
What is MENGO?
MENGO represents one of the many fan tokens facilitating a direct connection between a specific club and its players with their dedicated community. Situated in Rio de Janeiro, Brazil, Flamengo has solidified its status as one of the most successful sports clubs of the 20th century. As the most famous club in Brazil, boasting over 40.2 million supporters as of 2020, Flamengo has significant influence in football. The introduction of its Fan Token has the potential to introduce numerous newcomers to the world of cryptocurrency to get a closer look at their cherished clubs.
The MENGO team
Socios.com created MENGO to enable sports enthusiasts to earn rewards by interacting with their beloved clubs. The platform that powers the Socios app is Chiliz, with Alexandre Dreyfus serving as its CEO. Dreyfus has been a prominent figure in the Web 3 space and has played a significant role in the inception and expansion of web-based companies such as Webcity, Winamax, and Chilipoker.
How does MENGO work?
Like other Fan Tokens, the Flamengo Fan Token represents a digital asset that empowers holders to influence official decisions, participate in exclusive games, and win unique experiences. Unlike a typical membership token, MENGO doesn't expire at the end of a season, requiring no renewal for continued benefits.
This token offers fans a fresh and innovative way to interact with their clubs, fostering a direct line of engagement. Beyond influencing the club's decisions, the fan token also brings added advantages, such as the ability to purchase tickets, merchandise, and experiences directly from the club without the involvement of third parties. The Socios.com platform acts as a catalyst, bridging the gap between fans and their favorite teams, facilitating interaction, and providing rewarding experiences.
MENGO use cases
MENGO token has three major use cases. The first one is that it allows users to influence the club and certain decisions through the Socios.com app. This works because teams create polls, and token holders get to vote on them. Over 400 official decisions have been made since Fan Tokens were first created, including pitch names, kit designs, exclusive merchandise, and more. Furthermore, each poll is capped so that the results would be unbiased.
The second major use case is the opportunity for the fans to win rewards. These can range from watching a match with their favorite legendary player to reading out the team lineup in front of more than 60,000 fans. All that they need to do to win such rewards is hold the MENGO token and participate in team decisions and other activities and features within the Socios.com app.
Lastly, the third use case is the ability to participate in the games that the Socios.com app has to offer. There are many different games and exclusive in-app events and features, such as Token Hunt, Fan Rewards, Predictor, and alike.
MENGO lets you get closer to your favorite club
The MENGO token serves three primary purposes:
- Influence club decisions: MENGO enables users to have a say in the club's choices through the Socios.com app. Teams create polls, allowing token holders to vote on various matters. Since the inception of Fan Tokens, more than 400 official decisions have been influenced, covering areas like naming the pitch, designing kits, producing exclusive merchandise, and more. Each poll has a voting cap to ensure a more fair and unbiased outcome.
- Winning rewards: Fans can win enticing rewards, ranging from watching a match with a legendary player to announcing the team lineup in front of a massive audience exceeding 60,000 fans. To qualify for these rewards, fans must hold the MENGO token and actively engage in team decisions and other activities within the Socios.com app.
- Access to in-app games: The MENGO token provides access to various games and exclusive in-app events and features offered by Socios.com. These include engaging activities like Token Hunt, Fan Rewards, and more, enhancing the overall interactive experience for token holders.
