Cardano losing steam amid profit taking
Over the past week, the bears took a grip on the crypto as its value plunged by 13.16%.
A top English club, Manchester City has become the latest football club to go Crypto and launch their own digital fan tokens.
In a report seen on the club’s website, Socios.com and Chiliz, will permit global football fans in securing VIP rewards and voting rights through the CITY token.
Chiliz, powering Socios.com, aims to give sports and esports fans the ability to crowd-manage their favorite teams, games, leagues, and events.
READ: Manchester United announces Q2 2021 financial results, as net debt increases to £455.5m
Football clubs are now using blockchain, to facilitate better experiences for their fans.
Socios.com Fan Token partners include Juventus, AS Roma, Galatasaray, FC Barcelona, Atlético de Madrid, Paris Saint-Germain, CA Independiente, Apollon Limassol and esports organizations Team Heretics and OG.
Paris Saint-Germain, Barcelona, AC Milan, Juventus fan tokens valuation is currently worth about $400 million.
READ: Billionaire, Uzor Kalu wants to buy 35% stake in Arsenal FC
Alexandre Dreyfus, CEO of Chiliz and Socios.com, said: ‘(City) have proven they are ahead of the pack in embracing innovation and will enhance that status further through the $CITY Fan Token
‘Socios.com and $CITY Fan Tokens will be hugely complementary to City’s global approach, providing fans around the world with unprecedented engagement opportunities, as well as unique digital, and – once restrictions are lifted – real-life rewards and experiences.’
In retrospect it was inevitable.
Hello Premier League, welcome @ManCity $CHZpic.twitter.com/jI5fSrSdD6
— Chiliz ($CHZ) (@Chiliz) March 19, 2021
READ: This is why Dangote may drop plans to buy Arsenal FC
Existing club members will be eligible to receive a free CITY token.
“(This) will provide another opportunity for our fans all over the world to get even closer to the club they love,” said Stephan Cieplik, Senior Vice President of Global Partnerships Sales, of City Football Group. “Fans will have access to fantastic competitions and VIP experiences and be able to vote on club initiatives… we recognize the significant interest in blockchain and the opportunity it provides us to engage further our global fanbase.”
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