What is Galatasaray Fan Token (GAL)?
Galatasaray Fan Token (GAL) is a token issued by Turkish Süper Lig club Galatasaray S.K. in partnership with Socios.com. GAL is issued on the Chiliz chain, a sidechain built on Ethereum, which runs the Socios.com protocol.
Socios.com is a mobile-based fan engagement platform that issues fan tokens in partnership with top sports clubs. Socios.com supplies GAL as the official fan token for Galatasaray S.K., digitizing interactions between fans and their favorite teams.
The token rethinks the fan experience, allowing holders to participate in exclusive events, accessing limited edition merch and VIP hospitality, among others. Unlike club memberships that are renewable periodically, GAL holders pay no subscription fees. As a fan, you can add more GAL to participate in influencing Galatasaray S.K.'s decisions.
GAL allows fans to voice their concerns and show support for Galatasaray S.K. from any location worldwide. Holders can also engage with their team players directly, enhancing the club’s community experience.
Socios.com aims to realize fans' dreams by giving them a platform to actively participate in the club's activities. Overall, the platform issues fan tokens for over 50 clubs and national teams as well as is adding more and more clubs to the list.
Interested in buying Galatasaray Fan coins? Before doing that, make sure to check the Galatasaray Fan Token price chart above. It features both – the current and the previous GAL price.
Use Cases of GAL Tokens
GAL is essentially a utility token for Galatasaray S.K. fans. Nicknamed the Lions (or Aslanlar), the team allows GAL holders to participate in influencing decisions made by its management. This never-seen-before fan engagement helps the club to listen to its fanbase and make informed decisions.
So, unlike club memberships, GAL holders reserve voting rights on official club decisions. Already, GAL holders have influenced the designs for the dressing room doors, Gala Espor’s new logo and hashtag, and selecting the warmup song before games at the Türk Telekom Stadium – home of Galatasaray S.K.
Still, on influencing decisions, GAL holders can only vote once on each poll conducted through the Socios app. The vote’s weight depends on the tokens held by the user, but the weight is limited to avoid a majority decision by a few individuals. You can influence the team with as low as 1 GAL token.
Furthermore, holding GAL coins makes you legible for VIP rewards by Socios.com. Holders can win a VIP hospitality experience at the home stadium, signed merch, and a physical meet with their favorite team players.
Besides, just like with other crypto assets, you can add GAL to your investment portfolio. Don't forget to view the Galatasaray Fan Token price chart above to see the GAL price history.
Who Founded Galatasaray Fan Token?
GAL is issued by Galatasaray S.K. in collaboration with Socios.com. The token was launched in 2020 and can be purchased using Chilliz’s native token CHZ, on the Socios app. This app is available for download on Android and iOS mobile devices.
Tokenomics of GAL
GAL has a total supply of 10 million tokens. Socios.com deploys this deflationary mechanism to keep the GAL price from going down by inducing an ever-rising demand from its fanbase to a capped token supply. This inflation-offsetting model is popular among most cryptocurrencies.
