Manchester City and its Blockchain-Based Token

Football clubs started to realize the importance of new technologies. Interestingly, English football Manchester city made an important announcement on Friday. According to this announcement, the team worked with fan engagement platform Socios.com to launch the CITY fan token on the Chiliz blockchain. As a result, Manchester City is the latest famous football club to launch its own blockchain-based token. Thanks to this token the club will be able to power new tools when it comes to digital fan engagement.

It is worth noting that, similar to other European clubs like FC Barcelona, Juventus, the Manchester-based club will have an option to provide VIP tickets, games, AR-enabled features as well as polls using its fan token.

Interestingly, the participants of the club’s Cityzens membership will be eligible to receive a free CITY fan token. Moreover, every existing registered Cityzen will be eligible for a free token. With these tokens, they can access the full range of benefits and rewards.

Manchester City, blockchain-based token, and new opportunities

Hopefully, the newly launched blockchain-based token will provide fans with unique and real-life rewards and experiences. People will be able to take advantage of this fan token as soon as COVID-19 restrictions are lifted.

As a reminder, Manchester City competes in the Premier League, the top level of English football. Moreover, it is reportedly the fifth most valuable football club in the world, with an estimated value of $.27 billion as of 2019. 

It is worth noting that the Chiliz token which is the native token of the blockchain platform Socios, experienced a parabolic rise over the past several months. As a result, its market cap reached $1 billion. As of March 19, its market cap stands at $3.8 billion.

This month, blockchain sports venture firm Chiliz made an interesting announcement. The firm will open an office in New York and will start working with local leagues and sports franchises. As a reminder, the Malta-based company is preparing to launch fan tokens with franchises from the five major U.S. sports leagues.

The company knows how to reach formidable results. It generated millions of dollars of revenue for some of Europe’s biggest sports organizations. Last year, Chiliz shared $30 million with its partners. Manchester City found a great partner. This company has years of experience in providing fan tokens to popular football clubs such as FC Barcelona, Juventus, as well as Paris Saint-Germain.