English Premier League leaders, Manchester City, have joined forces with Socios.com to launch the Manchester City $CITY Fan Token.
According to Sporttechie, cryptocurrency company Chiliz has partnered with Manchester City to launch a fan token on fan rewards app Socios. Fans who buy the $CITY Fan Token can vote in polls organized by the club, access club promotions, games, augmented reality features, and other VIP experiences.
The English Premier League club will share revenues generated by the $CITY Fan Token with Chiliz, according to SportBusiness. Chiliz, which owns Socios.com, has launched digital tokens for 24 sports organizations, including top soccer clubs FC Barcelona, Paris Saint-Germain, AC Milan, and Juventus. Man City is also partnering with digital entertainment company Animoca to create blockchain games and collectibles, according to Decrypt.
“We recognize 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,” Stephan Cieplik, SVP of global partnerships sales at City Football Group, statement adds.
Earlier this year, AC Milan’s fan token generated $6 million in revenue within its first day of trading. Chiliz is investing $50 million toward expanding into the U.S. and pursuing fan token partnerships with clubs from the top five major North American professional sports leagues, stated Sporttechie.