Back in September, Juventus Soccer Club launched its own ‘fan token’. Now, the partner behind that token, Socios.com, is buddying up with West Ham United.
The Socios.com Fan Token
Socios.com is a “new app for football fans.” It allows its users to vote on club matters by collecting the fan token that is issued by the Socios blockchain and tradeable against the platform’s native cryptocurrency ChiliZ (CHZ).
As stated, Juventus signed up last September. Paris St. Germain soon followed, inking its deal two weeks later. West Ham is the first Premier League club to sign.
The CHZ fan token has already received significant investment from Binance and Bancor.
According to Alexandre Dreyfus, CEO and Founder of Socios.com:
“We’re building a strong eco-system of top-tier clubs from the best and most exciting leagues across the world and are very excited to have West Ham United as the first Premier League club to drive the evolution of football fan engagement.”
User-Base Potential
West Ham boasts a fan base of 40 million supporters. Should the ability to vote on club decisions and gain access to exclusive rewards whet their appetite, then the platform has huge potential ahead.
Further, the fan token has launched in time for the 2019/2020 season. Fans will be able to buy, collect, and “hunt” for them and the more tokens a user has, the more influence they have over club decisions.
Fans can also cash in their tokens for “once-in-a-lifetime experiences.”
West Ham’s official announcement described the blockchain initiative as:
“A first-of-its-kind mobile app for football fans, where fans acquire the ability to vote – by buying, earning or hunting for Fan Tokens – on selected club decisions, earn club rewards and compete for once-in-a-lifetime experiences.”
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The Takeaway
Another established football club putting its name to a blockchain and cryptocurrency venture only helps to increase adoption for the technology as a whole. As West Ham sits in the Premier League, it may entice other bigger clubs to follow in its footsteps.
What do you think? Do you think the Socios.com fan token will garner more teams? Will it take off?
Featured Image: DepositPhotos © Maxisports
