March 19 – Manchester City have become the first of the Premier League’s big six clubs to embrace the blockchain-based Socios.com fan token platform.
Man City will be joining 23 other sporting organisations, including Barcelona, Juventus, AC Milan and Paris Saint-Germain, on the trading platform once the $CITY Fan Token launches.
Built on the Chiliz blockchain fan tokens give owners a series of benefits including access VIP rewards, club promotions, games, AR-enabled features and voting rights in certain club polls via Socios.com.
Fan tokens are tradeable and earlier this week saw PSG’s qualification for the quarter finals of the Champions League spark a $550 million digital fan token trading frenzy.
The price of the $PSG Fan Token rose by nearly 110% to $24. The total Fan Token market capitalisation rose to more than $390 million during trading before settling down closer to $360 million.
The club said that all existing registered Cityzens will be eligible to receive a free $CITY Fan Token on launch.
Stephan Cieplik, Senior Vice President of Global Partnerships Sales, City Football Group, said: “We recognise the significant interest in blockchain and the opportunity it provides us to engage further our global fanbase and we are confident that the Manchester City Fan Token will prove a popular addition to our digital line-up.”
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