What are Fan Token? The cryptocurrency that increases the income of football clubs

Various LaLiga teams –Barcelona, Athletic, and recently Valencia Y I raised– They already work or are about to do so with Fan Token, the cryptocurrencies that give the right to vote in club decisions in exchange for rewards and exclusive experiences of each entity. The Valencia will wear its Fan Token (its own cryptocurrency) as the main sponsor and that of the Levante sold out in a few seconds

after your sale is activated

on Tuesday July 13, as are already underway those of great clubs in the world such as

PSG, Juventus, Milan or Manchester City

, among others, in addition to selections such as

Argentina

or

Portugal

, in addition to

franchises

of the

NBA

(

Boston Celtics

) or teams of

Formula 1

(Alfa Romeo). Even the same

Mourinho

It has served as a claim image for the

Rome

to announce this business initiative. Fan Token are above all a way to

increase club income

soccer as they become

new ways to ‘monetize’ your fans.

The partners and supporters are af

key actor

and more at a time when the effects of the pandemic have been felt in the

decreased club income

and in a forced distancing from the fans. Up to now

the fans were a source of income

for the purchase of tickets and products, which reduced the relationship to a pure and simple commercial exchange, like that of any consumer with a department store. The Fan Token system

take advantage of passion and personal involvement

of a fan for his team and what goes

beyond spending money on t-shirts, tickets

and official products, because it provides you with the novelty of

be able to influence some decisions of the club

of which they are partners or even shareholders. The

teams ‘gamify’ interactions

with his fans through

tokens

-they price the right to participate in the surveys (1 token = 2 euros is the price of salia) – and the fans

find new ways to support their teams

and also of

take part in some decisions

internal, such as

song that should be played to celebrate the goals

or what

slogan should project video scoreboard

of the stadium on a certain date, to cite real examples. Like all

novelty

, and more referred to a

cryptocurrency

, there’s a lot

doubts about its safety, reliability and advantages

. The first thing to know is that behind this digital asset called Fan Token is

Chiliz

, one of the

top global blockchain technology providers

[la base de datos que permite el funcionamiento descentralizado de las criptomonedas] for sports and entertainment. Chiliz has specialized

in the sports world to tokenize

entertainment through a

participation platform

for fans of sports teams.

The redeemable voucher of a lifetime

Token, a term of popular and key origin in today’s digital economy

Token

is an English voice that means’

symbol

‘or’

sign

‘, but which also designates the

voucher or coupon

of paper or cardboard that s

go to redeem

totally or partially a

product

in an establishment. This term became popular in the

music festivals

in form of ‘

records

‘(another of its meanings) made of plastic to increase security with large crowds. Applied to

payment methods

, this new term of the digital economy is the system that

eliminates the need to expose bank details

real user data to make digital operations more secure. But what makes them special

‘Fan’

Token is the

fan involvement

to a team and their reduced circulation makes them

collectibles,

with the expectation of increasing its economic value in the future. .

The

operation is simpler than it seems
, but you have to take into account the

various concepts that are combined
. The

mobile application ‘partners.com’
publishes club polls, but to participate

you need to be a token holder
(currency) of the club in question, which

provided by Chiliz ($ CHZ)
and that they are the ones that give the right – such as shares in the stock market – to be part of this new community. The value of tokens

It is expressed in euros and in $ CHZ
and they are bought from the same platform ‘partners.com’. The

starting price
in recent cases (Levante and Valencia) it will be

1 token = 2 euros
. The

Tokens
, in addition, they also work as

points that reward loyalty
and allow the

access to discounts
to buy official products or, depending on the initiative of each club, even participate in unique experiences (trips with the team, tickets to privileged places in the stadium or exclusive items such as game wear). On

2020 there were more than 9 million tokens
in circulation, with a

market value exceeding $ 47 million
, according

Expansion
, and that provided some

30 million benefits to partner clubs
. In Chiliz they wait

multiply this figure by four
this year 2021.

QUESTIONS AND ANSWERS TO UNDERSTAND HOW FAN TOKEN WORK

What are Fan Token?

They are

‘collectible’ digital assets
upon payment of the amount representing the

ownership of a right to vote and giving access to earning rewards and experiences
exclusive and specific to each club. Fan Tokens, like any cryptocurrency, are fungible, that is,

can be exchanged for other ‘goods’
such as VIP experiences, official products, tickets or any other initiative that clubs come up with.

Where are Fan Token used?

There is no specific platform for each club, rather

they use the mobile app

partners.com
that allows football fans

interact with their teams in a new way,
being able to participate for the first time in more or less important decisions of the club through surveys.

The paradox of Valencia

Official sponsor with censored comments

The

Valencia

announced in June that its Token VCF coin
became a main sponsor
of the club for the 2021-22 season, in what really is a way to promote this new tool whose creators intend to spread quickly. “The fans will always be at the heart of football, and innovation and technology will keep this tradition alive,” Valencia said in its statement, now that it is going to monetize the interactions of its fans. The paradox, in the Mestalla club, is that currently
comments are blocked on all social networks
. Seconded the

international initiative

on the weekend of April 30, in protest of abuse and violence in the networks, but afterwards he has kept the answers blocked.

What kinds of decisions do clubs open to fans?

Throughout the season

clubs are launching different types of surveys
that will allow

fans influence related issues
usually with the

picture
of the club, although there is freedom of initiative, and even

propose starting eleven
in a friendly. The latest survey of the

Athletic
For example, ask for the preferred design for the official coach of the next season (between two options). You can also vote for the

motto that the captain’s armband should wear
, the message on the stadium façade … whatever comes to mind, which proposes the options and whose result is binding

Can any fan vote?

Yes
,

if you have Fan Token
of the club in question. To participate in these voting, the only requirement is to have the amount of Fan Token determined by the club at all times. In this case,

a fan can vote as many times as the number of Fan Tokens they own allows
. The more you have, the more weight your vote will have and the more options you have to win prizes and rewards.

What else can you do with Fan Token?

They serve to

access exclusive club promotions and discounts
and their sponsors, and give the option to buy or win VIP experiences (travel with the team, follow a match from a privileged position) and interact with other fans through chats, games, contests, etc.

Speed ​​record in Levante

The 100,000 Fan Token are used up in 2 seconds!

The

I raised

broke a spectacular record on its FTO (Fan Token Public Offering) on ​​Tuesday, July 13. They left

100,000 for sale

and they were sold out in two seconds! From Socios.com they point out that Levante Fan Token were bought from countries such as

Turkey, Poland, France, Japan, Brazil, United Kingdom, Germany, and Saudi Arabia,

in addition to

Spain

, Sure. It is true that it was a very limited offer – in fact there lies the special character of the coin – since, for example, on Wednesday one million of the Portugal team were launched.

How are Fan Tokens purchased?

Through the

application ‘partners.com’
which is the one used by

Chiliz cryptocurrency
$ CHZ that must be acquired previously (the whole process is done without exiting the application), through

a credit or debit card payment gateway
.

When can they be purchased?

This is very important, because

are not always available
. Just as in the world of cryptocurrencies, the launch is done through ICO (Initial Coin Offering), the Fan Token will have their

FTO (Fan Token Offering)
in which the

platform will release the coins for a limited time
(several days). From there, no more coins can be purchased except by exchange with other users.

How much do Fan Tokens cost?

Most of the clubs and federations

have agreed on a starting price of 2 euros
for each Fan Token. Settle down

purchase limits for each fan
, with the idea of ​​extending its use to the largest possible number of fans. One time

out of initial supply
launch, the price of the Fan Tokens will be set

based on supply and demand
. But there may be successive FTOs, as for example the

AFA taking advantage of the pull of the Argentina team
with the classification for the

final of the America’s Cup.

Is it safe to buy Fan Tokens?

The

blockchain technology
aims precisely to allow users

share valuable data safely.
The Socios.com platform

ensures that it uses very advanced methods
and complex computer applications that are extremely difficult to manipulate by

hackers
. In addition, by creating a public registry that collects the connections between all users, blockchain technology

ensures safety and integrity
of the whole process.

Can they be sold when you don’t want them anymore?

Yes

can be sold, through the same platform
in which they have been bought, but at the price established by supply and demand at that time. It could be higher than the purchase price -as is now the case with Manchester City-, or lower and it is also automatic.
July 15, 2021 admin

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