Tottenham Hotspur Launches Web3 Fan Token
- Tottenham Hotspur claims the new fan token will build on previous experiences.
- Socios.com has helped over 80 teams create and manage Web3 fan tokens.
English Premier League giant Tottenham Hotspur has leveraged blockchain technology to launch and manage its own Web3 fan token, which it says will improve a sense of community amongst its supporters and serve as a tool for reward.
Tottenham will launch its SPURs fan token in partnership with Socios.com. Socios, which operates on the Chilliz blockchain, helps sports teams create fan tokens for engagements. Socios currently has over 70 sports teams across different countries using its services.
Fan tokens are simply digital assets that provide supporters with access to voting in club polls and tournaments for a selection of prizes. Tottenham supporters can also look forward to multiple benefits from this partnership with Socios, including big screen messages, VIP tickets, Spurs Shop vouchers, and opportunities for virtual meet-and-greets.
In addition, holders of the SPURS fan tokens will be able to vote on-chain on a number of team motions, such as prospective kit changes. Furthermore, Spurs will collaborate with MatchWornShirt, a website that allows players’ jerseys to be auctioned off with their game-worn authenticity verified by the Chiliz blockchain.
Spurs join other football teams using blockchain to improve fan engagement, including Juventus, AC Milan, Barcelona, Arsenal, Manchester City, Paris Saint-Germain, Inter Milan, Atlético Madrid, and A.S. Roma.
CEO of Chiliz and Socios, Alexandre Dreyfus, stated that discussions with Spurs have been underway since 2022. However, the bear market prevented several partnerships from forging ahead. The SPURs token will go live on October 4 and will be offered on all cryptocurrency exchanges that accept Chiliz tokens.
Tottenham Commercial Sales Director Ryan Norys reacted to the launch, saying that the fan token will expand on the club’s current membership program with a new collection of club-related rewards and activities.
Norys said in a statement:
We’re pleased to be able to provide fans worldwide with a new range of club-related rewards and experiences. Our Fan Token will build on the many benefits of our existing membership scheme. We’ll be offering all our members and season ticket holders free fan tokens at launch and are working with Socios.com to deliver a range of rewards that carry appeal to both domestic and international fans.
Over the past few years, there’s been a growing intersection between blockchain platforms and sporting teams. Most sports teams see fan tokens as an easy way to rake in an extra source of income. Chiliz claims that its blockchain has handled more than $400 million in revenue for clubs and leagues since 2018.
I have covered some exciting stories in my career as a journalist and find blockchain-related stories very intriguing. I believe Web3 will change the world and want everyone to be a part of it.
