FOOTBALL now is a new show that brings to light some of the levers cryptocurrency can pull.
The industry has realised that digital payment systems could attract sponsorships as well as further monetising fan engagement. How so? Through fan tokens.
Supporters can easily download an app and buy tokens that give them access and influence over certains matters at their favourite club, such as kit design and pre-match music.
Alexandre Dreyfus, CEO of the fan token platform Socios, believes they are just the beginning of a change in the relationship between fans and clubs.
Socios already have over 60 clubs to their name, including football giants such as Barcelona and Man City. Even Lionel Messi jumped on the bandwagon by receiving fan tokens as part of his welcome package at PSG, but not everyone is on board.
Another crypto by-product gaining momentum is the NFT also known as ‘non-fungible tokens’. NFTs are like physical collector’s items but digital assets where unique data is added to the files to represent ownership. It can be anything from a video or image of a significant sporting moment like Messi’s first-ever goal or digital trading cards, but some may come at a great cost. Only a few weeks ago, a one-of-a-kind digital NFT card featuring Cristiano Ronaldo sold for a staggering €353,400.
Do you think football clubs' fan tokens will be beneficial to the club?