Manchester City soccer club launches fan token with Socios

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Main English soccer membership Manchester Metropolis is the most recent sports activities membership to launch its personal blockchain-based token to energy new instruments for digital fan engagement.

In response to an official announcement Friday, Manchester Metropolis has partnered with fan engagement platform Socios.com to launch the CITY fan token on the Chiliz blockchain. Much like different European golf equipment like FC Barcelona and Juventus, Manchester Metropolis will now have an possibility to supply VIP rewards, membership promotions, video games, AR-enabled options and polls utilizing its fan token.

Stephan Cieplik, senior vice chairman of world partnerships gross sales at Metropolis Soccer Group, the mother or father firm of Manchester Metropolis FC, mentioned that individuals of the membership’s Cityzens membership shall be eligible to obtain a free CITY fan token. “Each present registered Cityzen may even be eligible for a free token to allow them to entry the complete vary of advantages and rewards,” Cieplik mentioned.

Alexandre Dreyfus, CEO of Chiliz and Socios, mentioned that the newly launched fan token will present followers with distinctive digital and real-life rewards and experiences as quickly as COVID-19 restrictions are lifted.

Competing within the Premier League, the highest degree of English soccer, Manchester Metropolis is reportedly the fifth most precious soccer membership on this planet, with an estimated worth of $2.7 billion as of 2019. Manchester Metropolis got here underneath intense criticism after the membership was given a two-year ban from European membership competitions for breaching Monetary Honest Play guidelines final 12 months, which was finally overturned on attraction.

As beforehand reported by Cointelegraph, Chiliz (CHZ) token — the native token of the blockchain platform created by Socios — has seen a parabolic rise over the previous a number of months, hitting a $1 billion market cap. At publishing time, CHZ market cap stands at $3.8 billion, based on data from CoinMarketCap. In early March, Chiliz completed a $50 million funding round as a part of its growth plan into the US.