Manchester City Football Club is the latest sports club to issue a blockchain-based token to leverage new digital tools to interact with fans.
According to an official announcement on Friday, Manchester City Football Club is collaborating with fan exchange platform Socios.com to launch CITY Fan Token on Chile’s blockchain. Like other European clubs such as Barcelona and Juventus, Manchester City will now be able to offer VIP rewards, club updates, games, AR-enabled features and polls using a fan code.
Stefan Seblik, senior vice president of global partner sales for City Football Group, the parent company of Manchester City FC, said Cityzen’s members will be eligible for the CITY Code for free. “Every current registered Cityzen will also be entitled to a free code to access the full range of benefits and advantages,” said Zeplik.
Chiliz and CEO of Socios, Alexander Dreyfus, said that the recently released Fan Token will give fans unique digital rewards and experiences from the real world after the lifting of COVID-19 restrictions.
Manchester City participate in the Premier League, the highest level in English football, and is ranked as the fifth most expensive football club in the world with an estimated value of 2.7 billion dollars as of 2019. Manchester City was heavily criticized after the club received a ban for a period. Two years of European club competition for financial fair play breaches last year, which was finally canceled on appeal.
As Cointelegraph previously reported, the Chilis token (CHZ) – the original token for the blockchain platform created by Socios – has shown similar growth in recent months, reaching a market value of $ 1 billion. According to data from CoinMarketCap, CHZ had a market value of $ 3.8 billion at the time of publication. In early March, Chiliz completed a $ 50 million financing round as part of its US expansion plan.