Four times premier league champions, Manchester City, is introducing a crypto tokens for its fans. The club will be partnering with popular fan engagement platform Socios.com to launch the blockchain-based token. The club is following the steps of Juventus and Barcelona, who already use tokens to reward their fans and promote their matches.
According to Stephan Cieplik, a senior executive at the club’s parent company, City Football Group, the club fans who are officially registered as Cityzens will get a chance to be rewarded with a free token. This token would allow them to “be eligible for a free token so they can access the full range of benefits and rewards.”
Alexandre Dreyfus, the Chiliz and Socios boss indicated that the new tokens will give fans rewards immediately after the coronavirus-related restrictions are lifted.
Manchester City is a serious contender for the English premiership title and it is currently ranked amongst the most valuable clubs in the world, currently, the club is worth about $2.7 billion. The club faced criticism after it was barred from European club tournaments for 2 years. The ban follows the accusation that the club has been at the forefront of violating financial Fair Play regulations. However, the ban was lifted after it was appealed.
Chiliz (CHZ) the native token of Socios has enjoyed a tremendous rise in recent times. The tokens have become popular on Socios blockchain platforms. The token has seen its market cap rise over $3 billion after it completed a funding round that would see its extend its tentacles to the United States and the rest of the world.