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:
-
Voting on club decisions
-
Rewards
-
Giving opinions on merchandise design
-
Having the chance to win u🅺niqu🎀e experiences together 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 are now in a category of their own.
These tokens can be purchased in exchange for Chiliz ($CHZ), the digital currency used on platforms such as Soc🐠ios.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 have 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 via 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 chꩲoose the song to be played at the stadium when the home team scores a goal. The possibilities are endless!
As fan e♔ngagement increases, token holders will also continue 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 profits, particularly when there's a chan💎ce 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.
To 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.ꦫcom.
Step 1 – Download the Socios.com Mobile App
-
First things first. You’ll need to download the Soci⛄os.com app from the or the , provided that it is available in y🥀our location.
Step 2 – Set Up Your Account
-
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 willℱ also need a valid ID c𝓰ard/passport or driving licence.
-
You'll then be aske🅺d to enter your mobile number and an SMS verification code. The next stage involves verifying your email address, identity, postal address, and source of funds.
Step 3 – Get Chiliz
-
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
-
The last step will be to exchange the Chiliz for fan tokens by tapping ‘Trading’ at t♓he 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.
-
The only time a fan token’s price will be fixed is during a Fan Token Offering (FTO). This occurs before the tokens are availabl𓃲e to the general market. A limited number will be offered at a fixed price for a limited amount of time.
-
Given their popularity, these tokens normally se🧜ll out before they reach the marketplace. Once they do reach it, then the marketplace rules of supply and demand will come into play, and the prices will vary accordingly.
-
You may check out which FTOs are available from or by following the clubs who will be lauꦉnching their fan tokens for more info.
How To Withdraw Fan Tokens
꧃ Withdrawals from platforms suc��h 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 not send🌱 your tokens to external wallets and hardware൩ wallets.
💛Here are the steps to withdrawing fro🐼m the Socios.com app:
Log into your account and click ‘Wallet’.
Click ‘Withdraw’.
Select the t🍒oken and enter hᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚow much you wish to withdraw.
Press ‘Proceed'.
Add a new🐼 recipient anꦜd enter their name to hasten the process.
Access your wallet in your third-party exchange account and copy the 𓆏deposit address.
Ensure the exchange you are depositi🐻ng to supports the Chiliz Chain.
Paste your Chiliz Chain address on the recipient page and click ‘add recipient'.
Click ‘Proceed’ (you might n🌱eed to enter your withdrawal password at this stage if you set one up).
Click ‘Confirm and Withdraw’.
How To Sell Fan Tokens
As we’veꦍ noted, there are various platforms through which you can buy and sell fan toke🦋ns.
One excellent example would be Binance, one of the most popular cryptocurrency exchanges in the world. The site partners with the likes of Lazio and Porto, making it an ideal source for fans of these clubs interested in buyin🌌g tokens.
Sell🍨ing your fan tokens is a far simpler process compared to withdrawing them. Here’s how🙈 you can sell them on the Binance exchange:
After logging into your acco✤unt, click▨ the yellow exchange button at the bottom of the screen and click ‘Sell’.
Choose the token you wish to sell and for ho🌼w much.
Click ‘Sell’ again.
Choose your preferred method of receiving fiat currenc♊y. You can receive these funds via bank transfer orಌ 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 fields, ♒their primary focus has been football fan tokens.
At the time of writing, this exchange has launched 52 football fan tokens𒀰 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.
F🌜an tokens aren’t limited to clubs, either. The Argentinian and Italian national teams ha🐼ve 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 | $CITY | March 2021 |
As fan tokens become more popular, more Premier League clubs have decided to get on board and offer their fans♔ the opportunity for mo🌠re engagement. Some, such as Arsenal and Crystal Palace, have even opted to give their season ticket holders or members the chance to redeem free tokens as part of the initial sale. This means that their most esteemed fans can influence other fans to find out more about these digital tokens.
Each club has chosen to partner with Socios.com to create Socios fan tokens. It is up to the club to determine what benefits to give to the owners of these new tokens. Since their launch, we’ve seen clubs organise engagement polls, trade tokens for cl💟ub merchandise, as well as offer VIP experienc🐭es to some lucky token holders.
Upcoming Fan Token Offering Types
Fan Token Offering (FTO) is the period when several tokens are made available at a f🍒ixed price before they hit the market.
Socios.com have listed se𓆏veral Fan Tokens which will soon be available. Portuguese giants Benfica are set to see their token ($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 𒅌during the early months of 2020. Paris Saint-Germain and Atlético Madrid were the next two. West Ham became the fi🎃rst Premier League 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
-
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.
-
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.
-
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.
ThePuntersPage Final Say
Fan tokens have come to serve 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 support your favourite team in new ways or opting into a new financial investment, fan tokens have revolutionised the way sup♛porters can interact with the clubs they love!
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 𓂃investmen🃏t, fan tokens are an excellent and exciting way for investors to interact and support their favourite sports teams. There is a heap of exclusive rewards available and, of course, there’s a chance of making a tidy profit.
This is the of✤ficial cryptocurrency of the ETH fan club. The token can be purchased and traded on decentralised exchanges.