Fan tokens are a type of cryptocurrency that entitles users to a range of fan-related membership benefits in a football club.
It can include discounts, prizes, voting rights on kit designs & club decisions, and participation in one-of-a-kind experiences offered by the sports team.
Pioneering Fan Engagement
Chiliz mobile application, Socios, can be termed as the pioneer of creating fan tokens that allow Socios users to vote on ideas concerning specific sports teams, such as uniform design modifications, team matches, and more.
Smart contracts that run on the Chiliz blockchain allow Socios users to vote on the clubs’ decisions. To get fan tokens, users must first buy Chiliz (CHZ), which can then be traded on different exchanges.
Sports teams use fan tokens to allow fans to unlock VIP benefits, such as meet & greets with their favorite players and premium box seats during a game.
The more fan tokens you have, the more possibilities you have of receiving unique prizes and voting power for your favorite team.
Fan Tokens as Keys to Exclusive Inner Circles
Through a mobile voting platform, shareholdings of fan tokens allow fans to engage in fan-led choices while also acting as a ticket into a secure, privileged inner circle of fans who share similar passions and views.
The more tokens a fan has and the more votes they cast, the higher their clout rating gets, pushing them up through the reward tiers until they can access the most exclusive VIP privileges available.
While making any investment, it’s always a good idea to consider the product’s worth and potential solutions.
Fan tokens’ utility is limited to the particular perks that sports teams offer.