Cryptocurrency News

EPL leaders Manchester City dabbles in crypto with the launch of a fan token

  • Manchester City partners with Socios.com to launch a fan token.
  • The fan token will increase engagement between the club and its fans.
  • Chiiliz, the native currency of Socios.com, is up nearly 40% in the past week.

English Premier League leaders Manchester City, or ‘The Citizens,’ joins a growing list of elite European football clubs dipping into cryptocurrency to engage with its global base of fans.

Manchester City partnered with Socios.com, a fan engagement and rewards mobile app based on the Chiliz blockchain, to launch a fan token that allows supporters to access VIP rewards, club promotions, games, AR-enabled features, and voting rights in certain binding and non-binding club polls on Socios.com.

“The launch of the $CITY Fan Token also creates a new layer of digital engagement for Manchester City’s global fanbase, bringing them even closer to the club they love.”

The $CITY Fan Token

Manchester City token is a tradable collectible meant to bring fans closer to the club. The club will give the tokens for free to registered fans through a voucher code at an unknown date.

Manchester City, currently chasing to win a quadruple (four competitions in a single season), is excited about the fan token development.

“We are excited to launch the new Manchester City Fan Token, which will provide another opportunity for our fans all over the world to get even closer to the Club they love,” said Stephen Cieplik, Senior Vice President of Global Partnerships Sales, City Football Group. 

An innovative team

Socios.com and Chiliz CEO Alexandre Dreyfus said the club is all about innovation and its partnership with Socios.com is evidence of that.

“The Club have proven they are ahead of the pack in embracing innovation and will enhance that status further through the $CITY Fan Token,” he said.

In January, Manchester City was named the most innovative club in global sports by research firm Sports Innovation Lab.

Manchester City’s Fan token adds to the list of similar tokens which now have their own dedicated page on leading crypto price aggregator site CoinMarketCap.

Fan Token market

The fan token market is growing and its market cap recently surpassed $400 million, the press release said.

Chiliz ($CHZ), the native currency of Socios.com, is among the top 30 cryptocurrencies with a market cap of $3.8 billion.

The cryptocurrency is up 10% in the last 24 hours and 38% in the green in the last seven days.

Chiliz (CHZ) is up 38% in the past week. |Source: CoinMarketCap

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