Manchester City Catches Crypto Frenzy, Becomes First English Club to Launch Digital Fan Token

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Add title Manchester City Catches Crypto Frenzy, Becomes First English Club to Launch Digital Fan Token

Four-time English Premier League champions, Manchester City has become the latest football club to embrace cryptocurrency. City has now launched its own $CITY digital fan token.

According to a report on City’s official website, its fans worldwide will be able to clinch VIP rewards and voting rights using the $CITY token through sports fan engagement platform, Socios.com – which runs on the Chiliz blockchain.

Having gone live in 2019, Chiliz has morphed into one of the largest blockchains for e-sports and gaming crowdfunding on Socios.com, allowing fans to crowd-manage their favourite teams, games, leagues, and events.

Speaking on the club’s digital token launch, Stephan Cieplik, Senior Vice President of Global Partnerships Sales for City Football Group said:

This will provide another opportunity for our fans all over the world to get even closer to the club they love.

Stephan Cieplik, Senior Vice President of Global Partnerships Sales for City Football Group. 

“Fans will have access to fantastic competitions and VIP experiences and be able to vote on club initiatives. We recognize the significant interest in blockchain and the opportunity it provides us to engage further our global fanbase,” he added.

Cryptocurrency has steadily been going mainstream and its adoption has extended to professional sports such as football. Just two months ago, ex-Real Madrid striker, David Barral became the first-ever player to be bought with bitcoin.

Bitcoin Meets Football: Ex-Real Madrid Striker Becomes the First-ever Footballer Bought with Bitcoin

Football clubs are now leveraging blockchain platforms and digital currency offerings to provide much more immersive fan experience.

Socios.com Fan Token partners include an impressive array of top European clubs such as Juventus, AS Roma, Galatasaray, FC Barcelona, Atlético de Madrid and Paris Saint-Germain (PSG).

PSG, AC Milan, Barcelona and Juventus digital fan tokens are currently valued at almost half a billion dollars ($400 million).

With Manchester City also catching the crypto frenzy, its existing club members will be eligible to receive a free $CITY digital fan token.

Featured Image Credit: Socios.com/Twitter

https://technext.ng/2021/02/16/nigeria-contributed-90-of-over-600m-traded-by-african-crypto-startups-in-2020/


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