Sports fans around the world 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:
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Voting on club decisions
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Rewards
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Giving opinions on merchandise design
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Having the chance to win unique experiences tog🐠ether with the club in question
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 ꦚar𒁏e now in a category of their own.
These tokens can be purchased in exchange for Chiliz ($CHZ), the digital currency used on platforms s🌞uch 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 they follow. Many sports clubs h♍ave chosen to start offering🐷 these tokens as a tool to increase fan 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 v꧃ia the app. The more tokens 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; others have allowed fans to choose the song to be played at the stadium when the home team scores a goal. The possibilities are🃏 endleꦅss!
As fan engagement increases, token holders will also conti😼nue 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 pro💯fits, particularly when there's a chance of creating scarcity in the market for a specific 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.
T⛄o help you get started, we've outlined a step-by-step guide below to purchasing fan tokens. For the sake of simplicity, we've described the process used on Socios.🐭com.
Step 1 – Download the Socios.com Mobile App
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First things first. You’ll need to download the Socios.com app from the or 🌃the , provided that it is available in your locatio🌳n.
Step 2 – Set Up Your Account
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To create an account with♍ Socios.com, you'll need to enter your mobile number, create a username, and submit an email address. At a later stage, you will also need a valid ID card/passport or driving licence.
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You'll then be asked to enter your mobile nu♎mber and anไ SMS verification code. The next stage involves verifying your email address, identity, postal address, and source of funds.
Step 3 – Get Chiliz
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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
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The last step will be to exchange the Chiliz for fan tokens by tapping ‘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.
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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 amount of time.
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Given their popularity, these tokens normally sell out before they reach the marketplace. Once they do reach it, then th🌠e marketplace rules of supply and demand will come into play, and the prices will vary accordingly.
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You may check out which FTOs are available from ൩ or by following the clubs who will be launching their fan tokens for more info.
How To Withdraw Fan Tokens
Wit꧙hdrawals from platforms such as Binance or Socios.com may be slightly different to what you're used to as an online punter.
For example, on the Socios.com app, you can withdraw your fan tokens to third-party exchanges that list them, but n🌜ot send your tokens to external wallets and hardware wallets.
𝔍 Here are the steps to withdrawing from the Socios.com app:
Log into your account and click ‘Wallet’.
Click ‘Withdraw’.
Select 🧜the token and enter how much you wish to withdraw.
Press ‘Proceed'.
Add a new recipient and enter their name🔜 to hasten t𒅌he process.
Access your wallet in your third-party exchange account and copy the d♉eposit address.
Ens✨ure the exchange you are depositing to supports 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 at th𒁃is stage if you set one up).
Click ‘Confirm and Withdraw’.
How To Sell Fan Tokens
As we’ve noted, there arღe vari꧋ous platforms through which you can buy and sell fan tokens.
One excellent example would be Binance, one of the most popular cryptocurrency exch✃anges in the world. Th🎉e 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 th🎃em on the Binance exchange:
After logging into your account, click the yellow exchange button at the ๊bottom of thꩵe screen and click ‘Sell’.
Choose൩ the token you wish to sell and for how much.
Click ‘Sell’ again.
Choose your preferred method of rece🦋iving fiat currency. You can receive these funds via bank trans✅fer 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 ventured into multiple sporting fiel🙈ds, their primary focus has been f🐓ootball fan tokens.
At the time of writing, this exchange has launched 52 footbal♒l fan tokens on the Chiliz blockchain. The clubs involved span the globe and include some members of Europe’s elite, including Juventus, 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 tokens aren’t limited to clubs, eithꦚer. The Argentinian and Italian national teams have each launched their respective tokens on the Socios 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 | $CITY | March 2021 |
As fan tokens become more popular, more Premier League clubs have decided to get on board and offer their fans the opportunity for more engagement. Some, such as Arsenal and Crystal Palace, have even opted to give t💙heir season ticket holders or members the chance to redeem free tokens as part of the initial sale. This means that their most esteemed fans can influence other fans to find out more about these digital tokens.
Each club has chosen to partner with Socios.com to create Socios fan tokens. It is up to the club to determine what benefits to give to the owners of these new tokens. Since their launch, we’ve seen clubs organise engagement🌄 polls, trade tokens for club merchandise, as𝄹 well as offer VIP experiences to some lucky token holders.
Upcoming Fan Token Offering Types
Fan Token Offering (FTO) is the period when severa⛦l tokens are made available at a fixed price before they hit the market.
Socios.com have listed several Fan Tokens which will soon be available. Portuguese giants Benfica are set to see thꦑeir token ($BENFICA) hit the exchange soon, as are River Plate ($RIVER),🐽 Chivas ($CHVS) 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’ launch, other clubs followed suit during the early months of 2020. Paris Saint-Germain and Atl♔ético Madrid were the next two. West Ham became the first Premier Leagu♚e 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
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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.
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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.
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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.
Fan Tokens FAQs
Fan tokens are completely 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 and support their favourite sports teams. Th🌼ere is a heap of exclus♛ive rewards available and, of course, there’s a chance of making a tidy profit.
This is the official cryptocurrency𒈔 of the ETH fan club. The token can be purchased and traded on decentralised exchanges.
ThePuntersPage Final Say
Fan tokens have come to seꦗrve 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 suppo♌rt 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!