Sports faꦕns around the wor♎ld have always looked for ways to not only watch their favourite team play, but also to try and feel part of the team they love. With the introduction of fan tokens, you can now enjoy a greater influence than ever!
How Fan Tokens Work
Fan tokens are digital assets which give the holders (normally sports fans) access to products and services which would otherwise be inaccessible. The products and services available for fan token holders vary from fan-related membership perks, such as:
-
Voting on club decisions
-
Rewards
-
Giving opinions on merchandise design
-
Having the chance to win unique 🏅experiences together with the club in queౠstion
Fan tokens can be seen as utility tokens (which is one of🐭 the main categories of such items, alongside security tokens). However, cryptocurrency users believe that fan tokens are now in a category of their own.
These tokens can be purchased in exchange for Chiliz ($CHZ), the dꦬigital currency used on platforms such as Socios.com. They can also be exchanged to fiat currencies via other platforms.
There are currently more than 1.2 million fans from over 165 countries using fan tokens on the Socios.com app to interact with the clubs t🅘hey follow. Many sports clubs have chosen to start offering these tokens as a tool to increase fan𝕴 engagement.
Another added bonus for the clubs getting on board is that since these tokens are available globally, fans from all over the world have a chance to influence decisions being taken by the club via the app. The more tok🔥ens fan groups own, the more voting rights they have.
Benefits of Fan Tokens
Each club can decide how their fan tokens can be used. Some have offered token holders the opportunity for a walkabout experience at their favourite team’s stadium; othe🌃rs have allowed fans to choose the song to be played at the stadium when the home team scores a goal. The poss﷽ibilities are endless!
ౠ As fan engagement increases, token holders will also continue to grow in number, gaining even higher chances of winning greater rewards.
Some investors look upon fan tokens as a high-risk investment that has the possibility to generate profits, particularly when there's a chance of creating scarcity in the mark🍎et for a s💟pecific token.
Where Can I Buy Fan Tokens?
The most popular trading platform to buy fan tokens is most certainly Socios.com. However, other alternative platforms such as Binance and Bitci also exist and are growing in terms of users.
﷽ To help you get started, we've outlined a step-by-step guide below to purchasing fan tokens. For the sake of simplicity, we've𒁃 described the process used on Socios.com.
Step 1 – Download the Socios.com Mobile App
-
First things first. You’ll need to download the Socios.co🌊m app from the or the , provided that it is available in you💞r location.
Step 2 – Set Up Your Account
-
To create an account with Socios.com, you'll need to enter your mobile numbe🍰r, create a username, and submit an email address. At a later stage, you will also need a valid ID card/passport or driving licence.
-
You'll then be asked to enter your mobile number and an SMS verification code. The next stage involves verifying your email add♑ress, identity, postal address, and source of funds.
Step 3 – Get Chiliz
-
Handily, Socios.com has an in-built wallet for registered users, making this step that much easier! All you will need to do is access the app’s wallet page in order to buy Chiliz. You will be able to choose a preferred method of payment and pay through the app itself.
Step 4 – Get Fan Tokens
-
The last step will be to exchange the Chiliz for fan tokens by t🐓apping ‘Trading’ at the top of the screen, then choose the fan token you wish to purchase. Each token price will fluctuate depending on the market and the laws of supply and demand.
-
The only time a fan token’s price will be fixed is during a Fan Token Offering (FTO). This occurs before the tokens are available to the general market. A limited number will be offered at a fixed price for a limited amou💎nt of time.
-
Given their popularity, these tokens normally sell out before they reach the marketplace. Once they do reach it, then the marketplace rules of supply and demand will come into pl♐ay, and the prices will vary accordingly.
-
You may check out which FTOs are aꦺvailable from or by following the clubs who will be launching their fan tokens for more info.
How To Withdraw Fan Tokens
Withdrawals from platforms such as Binance or Socios.com may bꦍe sli🗹ghtly different to what you're used to as an online punter.
Fo🎀r example, on the Socios.com app, you can withdraw your fan tokens to third-party exchanges that list them, but not send your tokens to external wallets and hardware wallets.
Here are the steps to withdrawing from the ꦗSoci💮os.com app:
Log into your account and click ‘Wallet’.
Click ‘Withdraw’.
Selꦆect the 🌳token and enter how much you wish to withdraw.
Press ‘Proceed'.
🐟Add a new recipient and enter their name to hasten the process.
Access your wallet in your th🦩ird-party exchange accoun𝐆t and copy the deposit address.
Ensure the exchange you are depoꦬsiting to suppor🐓ts the Chiliz Chain.
Paste your Chiliz Chain address on the recipient page and click ‘add recipient'.
Click ‘Proceed’ (you might need to enter your withdrawal password atꦜ this stage if you set one up).
Click ‘Confirm and Withdraw’.
How To Sell Fan Tokens
As we’ve noted, there are💦 various platforms through which you can buy and 🤪sell fan tokens.
One excellent example would be Binance, one of the mo꧑st popular cryptocurrency exchanges in the world. The site partners with the likes of Lazio and Porto, making it an ideal source for fans of these clubs interested in buying tokens.
Selling your fan tokens is a far simpler process compared to withdrawing them. Here’s how you can sell them on the B🍬inance exchange:
After logging into your account, cli▨ck the yellow exchange button at the bottom of the screen and click ‘Sell’.
Choosꦯe the token you w♌ish to sell and for how much.
Click ‘Sell’ again.
Choose your preferred method of receiving🀅 fiat currency. You can receive these funds via bank transfer or P2P, or you credit them to your Binance cash balance and continue trading.
Types of Fan Tokens
The various exchanges have seemingly focussed on different sports. Apart from football clubs, Binance, for example, has put plenty of energy into Formula 1.
Nevertheless, while Socios.com have ventওured into multiple sporting fields, their primary focus has been football 🤪fan tokens.
At the time of writing, this exchange has launched 52 football fan tokens on the Chiliz blockchain. The clubs involved span the globe and include some members of Europe’s elite, including Juventuไs, Paris Saint-Germain, and Manchester City. Major clubs in Spain, Italy, and England have launched fan tokens, while the concept appears to be immensely popular among Turkish and Brazilian clubs.
Fan tokens𝓀 aren’t limited to clubs, either. The Argentinian and Italian national teams have each launched their respective tokens on the Sociosꦓ blockchain.
| Football Club/Nation | Fan Token |
|---|---|
| AC Milan | $ACM |
| Alanyaspor | $ALA |
| Arsenal | $AFC |
| Apollon Limassol | $APL |
| Argentina | $ARG |
| AS Roma | $ASR |
| Atletico Madrid | $ATM |
| Aston Villa | $AVL |
| Barcelona | $BAR |
| Independiente | $CAI |
| Manchester City | $CITY |
| Dinamo Zagreb | $DZB |
| Everton | $EFC |
| Fortuna Sittard | $FOR |
| Galatasaray | $GAL |
| Atletico Mineiro | $GALO |
| Goztepe | $GOZ |
| Istanbul Basaksehir | $IBFK |
| Inter Milan | $INTER |
| Juventus | $JUV |
| Legia Warsaw | $LEG |
| Levante | $LEV |
| Leeds United | $LUFC |
| Flamengo | $MENGO |
| Paris Saint-Germain | $PSG |
| Portugal | $POR |
| Corinthians | $SCCP |
| Sint-Truidense V.V. | $STV |
| Trabzonspor | $TRA |
| Universidad de Chile | $UCH |
| Valencia | $VCF |
| Young Boys | $YBO |
| Napoli | $NAP |
| Bologna | $BFC |
| Millonarios | $MFC |
| Racing Club | $RACING |
| AS Monaco | $ASM |
| Internacional | $SACI |
| Samsunspor | $SAN |
| Atlas | $ATLAS |
| Italy | $ITA |
| Crystal Palace | $CPFC |
| Tigres | $TIGRES |
| Vasco de Gama | $VASCO |
| Persib Bandung | $PERSIB |
| Bali United | $BUFC |
| Fluminense | $FLU |
| Bahia | $BAHIA |
| Real Sociedad | $RSO |
| Udinese | $UDI |
| Palmeiras | $VERDAO |
| Sevilla | $SEVILLA |
Premier League Fan Tokens
| Premier League Club | Fan Token | Established |
|---|---|---|
| Arsenal | $AFC | August 2021 |
| Aston Villa | $AVL | August 2021 |
| Crystal Palace | $CPFC | December 2021 |
| Everton | $EFC | August 2021 |
| Man City | $CITY | March 2021 |
As fan tokens become more popular, more Premier League clubs have decided to get on board and offer their fans the opportunity for more engagement. Some, such as Arsenal and Crystal Palace, have even opted to give their season ticket holders or members the chance to redeem fꦓree tokens as part of the initial sale. This means that their most esteemed fans can influence other fans to find out more about these digital tokens.
Each club has chosen to partner with Socios.com to create Socios fan tokens. It is up to the club to determine wha﷽t benefits to give to the owners of these new tokens. Since their launch, we’ve seen clubs organise engagement polls, trade tokens for club merchandise, as well as offer VIP experiences to some lucky token holders.
Upcoming Fan Token Offering Types
Fan Token Offering (FTO) is the period when several tokens are ma♓de available at a fixed price before the🌜y hit the market.
Socios.com have🎐 listed several Fan Tokens which will soon be available. Portuguese giants Benfica are set to see their token ($BENFICA) hit the exchange soon, as are River Plate ($RIVER), Chivas ($C🍸HVS) and Persija Jakarta ($PRSJ).
History of Fan Tokens
The first team to offer fan tokens to their global family of supporters were , back in 28th November 2019. Launching at approximately €2 each, 20 million tokens were to be offered worldwide. They were only available through Socios.com and could only be traded in the platform’s native token $CHZ.
Following Juventus’ laꦛunch, other clubs followed suit during the early months of 2020. Paris Saint-Germain and Atlético Mad♈rid were the next two. West Ham became the first Premier League club to offer fan tokens as they launched them in February 2020, alongside Galatasaray and AS Roma.
Later on in March 2020, fan tokens made their debut in the esports world as Socios partnered with OG for their FTO.
Fan Tokens Crypto Betting
-
All this talk about cryptocurrencies and fan tokens might have got you wondering whether there are any Bitcoin betting sites which accept payments in crypto as stakes on bets.
-
At some point in the future, you may be able to bet on how well a fan token does via sites that host financial spread betting. If this interests you, we suggest having a look at our spread betting guide.
-
Fan tokens are an alternative way of profiting on the sport you cherish most. Having said that, although the industry is constantly throwing up new and innovative avenues for gambling, traditional football betting remains incredibly popular across the globe. For more on this, check out our guide to the best football betting sites.
ThePuntersPage Final Say
Fan tokens have come to serve as a lifeline for the larger clubs, as the latter depend on fan-generated revenue from stadium audiences and merchandise. As a result, these tokens have taken the market by storm and don't appear to be slowing down. From allowing you to actively support your favourite team in new ways or opting into a new financial investment, fan tokens have revolutionised the way🦹 supporters can interact with the clubs they love!
Fan Tokens FAQs
Fan tokens are completeꩵly fungible, which means they are interchangeable and can be exchanged like real cash.
While there’s some risk involved, like any investment, fan tokens are an excellent and exciting way for investors to interact aꦓnd support their favourite sports teams. There is a heap of exclusive💛 rewards available and, of course, there’s a chance of making a tidy profit.
This is the official cryptocurrency of the ETH fan club. The 🌞token can be purchased and 🍬traded on decentralised exchanges.