Manchester City next team to introduce fan tokens via Socios
The Sky Blues also want to give their fans more direct participation via a crypto token and offer unique prizes.
Successful English football club Manchester City has become the next sports club to decide to launch its own crypto token for fans.
According to a related announcement today (Friday), Manchester City has teamed up with platform Socios.com to launch a fan token called CITY via the Chiliz blockchain. Similar to rivals from Rome, Barcelona and Torino, Manchester City’s cryptocurrency allows its own supporters to participate more directly in the club by BitQT review giving them voting rights on special votes via the token. In addition, fans can win special prizes via the token, including a stadium visit in the VIP box and the like.
In this context, Stephan Cieplik, Vice President of Global Partnerships at City Football Group, the football club’s parent company, explains that all members of the club’s own Cityzens fan programme will be credited with a free CITY Token:
„All existing Cityzens can sign up for a free token through which they can enjoy the full range of benefits and features.“
Alexandre Dreyfus, the CEO of Chiliz and Socios, adds that the new token will provide fans of the Sky Blues with unique prizes in both the digital and real worlds, the latter of which can be claimed once Corona protections are relaxed.
Manchester City play at the top of the English Premier League
The club of former Bayern coach Pep Guardiola has become champion several times in recent years, which is why it is hardly surprising that „City“ occupies 5th place among the most valuable football clubs of all. However, this success has not come without criticism, as the club was to be excluded from all European competitions for two years due to violations of the so-called Financial Fair Play. However, the corresponding decision has since been rescinded.
Chiliz (CHZ), the proprietary cryptocurrency of Socios‘ blockchain network of the same name, has seen its share price rise dramatically in recent months, reaching a market capitalisation of over $1 billion. At the time of going to press, CHZ’s market capitalisation is now as high as 3.8 billion US dollars. At the beginning of March, Chiliz was able to raise another 50 million US dollars in investment capital through a financing round.