Tuesday, 28 February 2023

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From the Pitch to the Blockchain: The Cryptocurrency Projects of Football Giants


    As technology continues to evolve and transform industries, soccer clubs around the world are finding innovative ways to engage with their fans and increase revenue. One such trend is the use of blockchain technology and cryptocurrency to create fan tokens that allow supporters to have a more direct stake in their favorite clubs. By creating fan tokens, soccer clubs are able to offer their supporters unique digital assets that grant them access to a range of exclusive experiences, rewards, and even the ability to vote on certain club decisions.

Rise of Tokens: Revolutionized Fan Engagement and Funding for Sports Clubs

    The trend started back in 2019 when covid-19 hit the world and caused severe quarantines in so many countries causing stadiums, movie theatres, dining places, and all other public places to shut down services. This affected the economies of many countries, and private sector entities including sports clubs were victims of that too. So, they decided to leverage blockchain technology to monetize their fan bases, provide them with benefits and get the funding required in return. By the time of writing this, fan tokens have reached a total market cap of $355m with a 24h trading volume of $80.9m.

    In this article, we'll take a look at some of the most famous soccer clubs around the world that have embraced crypto and fan tokens, and explore the various projects they've launched to connect with their fans on a deeper level.

FC Barcelona

    In partnership with Chiliz, Socios.com enabled fans of the iconic football club to access exclusive experiences and voting rights via its fan token, BAR. One example of the token's influence was when fans voted for the slogan to be featured on the captain's armband in 2021. In the token sale, 600,000 BAR were sold within 2 hours, setting a record as the fastest-selling fan token on Socios.com, raising over $1.3 million. Currently, BAR is trading at $4.78 per token, with a market cap of $30.6m and a 24-hour trading volume of $3.9m.

Manchester City

    Through a partnership with Socios.com, the popular football club Manchester City FC has enabled fans to actively engage with the team like voting on polls for club-related decisions by offering CITY, a fan token. In Aug 2021, CITY token holders chose the fan wall design to be featured at Wembley. Fans also receive exclusive rewards like match day VIP hospitality and signed merchandise. Launched in March 2021 on Chiliz, CITY is now one of the most popular fan tokens on Socios.com, with a current price of $5.28 per token, a market cap of $28m, and a trading volume of $11.6m in the last 24 hours.

Paris Saint-Germain (PSG)

    By offering fans much more than just a digital asset, the Paris Saint-Germain fan token, PSG, has quickly gained popularity among supporters. Through its unique voting rights, token holders can actively participate in significant club-related decisions, such as choosing the inscription on the captain's armband and voting for club awards. Token holders can also receive the club's NFT, digital badges, and VIP match day tickets. PSG plans to offer more promotions for token holders in the future, including signed shirts from players and crypto events hosted by players as influencers. The signing of Lionel Messi last year contributed to the token's popularity, with the price doubling before the transfer was concluded. PSG’s current price is $6.54, with a market cap of $25.1m and having accumulated $3m in 24h trading volume.

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    Paris Saint-Germain's partnership with 1xBet casino is also an exciting development for both fans and the club. As the official regional partner of the French club in Africa and Asia, and one of the top crypto-supported igaming betting brands, according to CoinGorilla, 1xBet has the right to run marketing and promotional campaigns featuring the team and its members. This partnership allows fans and PSG token holders to greatly benefit from the promotions and exciting prizes offered by 1xBet. Their current promotional campaign, "Bonjour De Paris" offers fans the chance to win PCs, laptops, tablets, mobile phones, TVs, gaming consoles, team shirts, and other prizes by placing bets on games featuring Paris Saint-Germain.

    Moreover, PSG fan token holders can deposit their tokens in the platform and use them to place bets on sports games or play any other games offered by the platform. This partnership will not only provide fans with more opportunities to engage with their beloved team but also generates revenue for the club, which can be invested in improving the team's performance on the pitch.

The Ball Keeps on Moving

    Fan tokens have become an innovative way for soccer clubs to monetize their fan bases and connect with their supporters on a deeper level. With a total market cap of $355m and growing, fan tokens have provided fans with unique digital assets that grant them access to a range of exclusive experiences and rewards, while also providing clubs with additional revenue streams.

    The success of fan tokens is evident in the popularity of the most famous soccer clubs that have embraced crypto and fan tokens, such as FC Barcelona, Manchester City, and Paris Saint-Germain. It's likely that more clubs will follow in their footsteps and adopt fan tokens to increase revenue and enhance fan engagement. As blockchain technology continues to evolve, the possibilities for fan tokens in the soccer industry are endless, and we can expect to see more exciting developments in the future.


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