What is the Fun in Fan Tokens?

Eddy August
27 Apr 2022
13:55

Isn’t it a fantastic experience having a membership of your favorite sports team that includes you in making team decisions and accessing various events? I’m sure it is! Fan tokens have made this dream a reality because they are the future of the sports currency. Today, fan tokens are the next big innovation that brings fans closer to their favorite sports clubs. They allow holders to access various fan-related activities like item designs, club designs, incentives, prizes, and much more.

Is it worth investing in fan tokens? How do fan tokens work? Are fan tokens similar to NFTS? Read on to find out what fan tokens are and how they differ from NFTs, how they work, and where you can get them.

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An Image Of Fans
Fan Tokens

What Are Fan Tokens?

The rise and the popularity of cryptocurrency has opened many opportunities for business and individuals worldwide. Sports clubs, enterprises, and celebrities can now launch their fan tokens using cryptocurrency. Additionally, you can place crypto bets at top bookmakers like Sportsbet.io.

So, what exactly are fan tokens? In simple terms, a fan token is a type of cryptocurrency that allows users to access various fan-related membership extras like rewards, club voting decisions, merchandise designs, and other experiences.

Fans need to pay for these tokens once, and they get the opportunity to involve themselves with their favorite football club. For instance, you have the right to vote on various decisions like celebration songs, kit design, tour bus designs, ticketing matters, new signings short numbers, new facility names, and much more.

Fan tokens differ from other cryptos like Chainlink or Ethereum because they don’t provide a solution to the same technical or financial problems. You can regard them as more fan-based reward tokens.

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How Do Fan Tokens Work?

If you invest in fan tokens, you can buy and trade them with other cryptos. The seller sets the price of the token, and it can change anytime depending on the popularity or the availability of the token. When you have a certain amount of fan tokens, you are given the right to vote on different matters concerning the club. This gives fans the chance to feel involved in the club’s activities. Some of the decisions that fans vote on include:

  • Match locations;
  • MVP categories;
  • Club’s merch design;
  • Tour bus designs;
  • Ticketing matters;

Which Football Clubs Have Fan Tokens?

The biggest football clubs that have launched fan tokens through Socios.com include Barcelona, Paris Saint-Germain, Atlético Madrid, Manchester City, Juventus, Inter, AS Roma, Arsenal, and Galatasaray among others.

Paris Saint-Germain Fan Token

PSG fan token helps you influence the decisions made at Paris Saint-Germain headquarters in Paris. Some decisions from PSG fans already influenced at Socios.com include The new Parc des Princess roof ridge visual, FIFA 22 cover - PSG limited edition, and $PSG holders interviewed players.

PSG Fan Token
Fan Tokens

Barcelona Fan Token

The Barcelona fan token gives you the power to participate in decision-making, earn official products, and access VIP experience among others. Some of the decisions that Barcelona fans already influenced on Socios.com include dressing room mural, matchday playlist, and captain’s armband among others.

Barcelona Fan Token
Fan Tokens
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Manchester City Fan Token

Manchester City fan token allows you to influence the decisions made at Manchester City HQ in Manchester. Some decisions already influenced at Socios.com are fan wall design, moment of the season, Iconic photography, and in-depth story.

Manchester City Fan Token
Fan Tokens

Atletico Madrid Fan Token

Get an Atletico Madrid fan token and influence the decisions made at the team’s HQ in Madrid. Atletico Madrid fans have already influenced several decisions on Socio.com like stadium takeover, inspirational message, face mask design, stadium tour, social media headers, and official bus design.

Atletico Madrid Fan Token
Fan Tokens

Juventus Fan Token

Influence the decisions made at Turin, Juventus HQ with the Juventus fan token. Juventus fan token holders have influenced some decisions like goal celebration song, official bus design, your Icon, Juve Vs Porto playlist, Juve vs Barça fan token award, and the #TheFanPennant. 

Juventus Fan Token
Fan Tokens
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Arsenal Fan Token

Enjoy incredible experiences and VIP rewards with an Arsenal fan token. Having the Arsenal fan token allows you to engage in decisions regarding game win song, official bug design, the captain’s armband, jersey design, starting line-up and dressing room, etc.

Arsenal  Fan Token
Fan Tokens

Inter Fan Token

Be more than just an Inter fan and engage in decision-making at Inter HQ in Milan. Fans have already influenced several decisions like official bus design, goal celebration song, captain’s armband, starting line-up, dressing room, and jersey design.

Inter Fan Token
Fan Tokens

AS Roma Fan Token

AS Roma fan token gives the power to make decisions like Instagram take over, renaming the training ground, fan message and the stadium, goal celebration song, official bus design, and gift to a star player.

AS Roma Fan Token
Fan Tokens
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Galatasaray Fan Token

Be part of the decision-making at Galatasaray and influence the warm-up songs, dressing room door design, legendary match on GS TV, Gala Espor new logo, Gala Espor new hashtag, and goal keep glove design. 

Galatasaray Fan Token
Fan Tokens

How to Buy Fan Tokens

Before we get into details on how to buy fan tokens, you need to understand what Chiliz (CHZ) is first. Chiliz refers to the top blockchain fintech provider for entertainment and sports. It is the commonly used fan token platform that also developed Socios.com.

Socios.com is the platform you need to enjoy interaction with your favorite team. It is a mobile app for iOS and Android where you can purchase your fan tokens, and take part in voting polls. Game contests and win other exclusive prizes.

Fans need to buy CHZ through the crypto exchange to get fan tokens available on Chiliz network. However, you can also get fan tokens outside Chiliz and on their Socios.com site. Fan tokens are specific to a club or team and they allow you to access encrypted ledgers of membership and voting rights ownership. Follow the following steps to buy fan tokens at Socios.com.

  1. Download the app;
  2. Validate your user;
  3. Click “Wallet”;
  4. Buy the required amount of $CHZ;
  5. Go to “Market”;
  6. Choose the fan token you need and click Buy;
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Top Fan Token Coins

As of today, the fan token market cap is $340 million. This is an indication of a 16% rise in the last 24 hours. Check the table below for some of the top fan tokens by market capitalization and their change in the last 24 hours.

USDFan TokenPrice1h24h7d24h VolumeMarket Cap
577Manchester City$14.90-0.0%-1.1%-3.5%$7,205,555$56,933,909
643Paris Saint-Germain$14.6-0.6%0.6%6.0%$12,162,912$45,422,948
774Atletico Madrid$5.310.2%0.4%-11.6%$1,594,152$26,988,416
810Inter Milan$8.470.2%0.7%1.0%$2,212,045$25,367,197
834Lazio$4.040.8%1.4%-0.2%$4,578,097$23,880,443
898FC Barcelona$6.680.8%0.4%-22.4%$3,839,499$19,726,241
952Santos FC$4.771.7%1.8%-1.5%$4,432,731$16,633,766
959Trabzonspor$8.01-0.3%-1.6%0.3%$5,808,828$16,476,192
973Juventus$5.790.5%1.5%-1.8%$3,761,211$15,772,305
1059Arsenal$2.860.5%-0.3%-10.3%$984,460$13,049,919

Conclusion

Owning a fan token of your favorite club comes with many benefits. You can share the influence of your team, engage in decision-making, get special rewards, and many other benefits. Unlike NFTs, fan tokens are exchangeable, meaning that you can exchange them for availing services or products of the enterprise supporting them. They also create an identity and bring people together, making a close-knit community. If you want to participate in your favorite team or club’s fan-related membership benefits, buy your favorite team’s fan tokens.

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Cryptocurrency and Fan tokens FAQs

How do leagues, clubs, and UEFA make money from fan tokens?
They majorly make money through fees. The teams get most of the percentage from the transaction of releasing the fan tokens. They get the fees depending on their club’s fun tokens. On the other hand, Socios.com earns through marketplace trading fees and other apps features with fees.
How is the value of cryptocurrency determined?
A cryptocurrency coin is determined by the demand. If the demand is high, the value of the digital coin rises. If its demand is low, its value also reduces. Other factors that determine the value of the crypto coin include the usefulness of the token.
What is Socios.com and who are its partners?
Socios is a platform that gives fans the chance to buy fan tokens. It was launched in 2019, and they have partnered with Paris Saint-Germain, Juventus, Inter, Barcelona, Atletico de Madrid, AS Roma, Galatasaray, Arsenal, Man City, Leads, Everton, Aston Villa, UEFA, and other national teams.
How many fan tokens do I need?
One fan token is mostly enough. However, the more fan tokens you have the higher the value your votes will have. Additionally, you have a higher chance of winning prizes.
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