West Ham United, the English Premier League soccer team has turned to blockchain technology to launch its own cryptocurrency. The new token, dubbed as ‘’Fan Token’’ will
West Ham United, the English Premier League soccer team has turned to blockchain technology to launch its own cryptocurrency. The new token, dubbed as ‘’Fan Token’’ will allow the team’s supporters to vote on club decision and in return get rewarded.
West Ham’s Partnership with Socios.com
Reportedly, the Fan Token initiative is powered by Socios.com, a ‘first-of-its-kind’ mobile application for football fans that allows them to vote by buying, earning or hunting for Fan Tokens. With the partnership, Socios.com will launch the official Fan Token of the West Ham Club.
Asides from rewards, the token will also give fans access to exclusive merchandise, games, leader boards and exceptional experiences as well. West Ham is quite positive that the Fun Token will evolve the club’s global fun engagement, expand their global audience and bring its over 40 million supporters closer to the club.
‘’West Ham United’s presence on Socios.com’s state of the art platform will further give us the ability to interact and get direct feedback in real-time from our global fan-base which will be important to our future fan engagement strategy. We’re very excited about the possibilities Socios.com offers us to give fans the best experience possible, whether they live within a mile of the stadium or thousands of miles away,’’
says the team’s Digital & Commercial Director Karim Virani.
Notably, once the token is released to the public, fans will be able to purchase them directly through their mobile phones via the Socios.com mobile app. The level of influence each fan has on the team’s decision is determined by the amount of Fan Tokens they hold. Also, just like other cryptocurrencies, the value of the Fan token will go up or down based on market demand and team performance. The token will be available to fans at the start of the 2019/2020 seasons.
Alexandre Dreyfus, the CEO and Founder of Socios.com stated her positive outlook towards the merger saying that;
“Having a club like West Ham United adopt fan voting is a big step in realising our goal of building the world’s biggest global football community and marketplace for football fans, alongside demonstrating that blockchain and cryptocurrency is the trusted technology of the mainstream.’’
West Ham United is not the first football club to adopt the blockchain mainstream, other platforms such as Juventus and Paris St. Germaine has already adopted the Fan Token initiative.
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