By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
ACLSportsACLSportsACLSports
Notification Show More
Font ResizerAa
  • Home
  • Football
  • Naijaheroes
  • Grassroots
  • Basketball
  • Athletics
  • News
  • More
    • Laughter, Leather & Losses
    • #YOURSPORTSMEMO Podcast
    • Blogs
    • Competition
Reading: Fans token expansion extends to America
Share
Font ResizerAa
ACLSportsACLSports
Search
  • Home
  • Laughter, Leather & Losses
  • Football
  • Naijaheroes
  • Grassroots
  • Basketball
  • Athletics
  • News
  • #YourSportsMemo
Have an existing account? Sign In
Follow US
ACLSports > Blog > Blogs > Fans token expansion extends to America
Blogs

Fans token expansion extends to America

Sola Oyeniyi
Last updated: January 24, 2022 2:46 pm
Sola Oyeniyi
Published: January 24, 2022
Share
Fans of the World Cup
As featured on NewsNow: Sport news
Sport News 24/7 

Fan tokens could well be on their way to the US in 2022. The non-fungible tokens (NFTs) have mainly been adopted so far by soccer fans in Europe, with fans from clubs in La Liga in Spain, the Premier League in the UK, France and Italy all seeing vast sales of the unique blockchain-based assets. But now, the NFT is growing to new levels over into America.

This growth is best demonstrated by the sheer depth of choice when it comes to the digital offerings available for supporters to purchase on the other side of the Atlantic. From video clips of players in action, to digital representations of collectible player cards, these have been among the most common choices and they’re proving to be very popular indeed. The increasing interest has since led to research from Deloitte estimating that the sales will generate over $2 billion in 2022.

However, the options are looking likely to expand further should the most popular of sports NFTs in Europe and South America get the greenlight to be distributed in the US too. These NFTs, namely fan tokens, are not only being utilized to raise money for the clubs, but they’re also being used as a tool to increase interaction and engagement with supporters. Socios fan tokens are club branded NFTs, which not only allows the purchaser the opportunity to show off their support, but provides access to loyalty programs directly connected to the club. These range from reduced ticket prices, VIP experiences, dependent on what each organisation wants to give their fans as a reward for their purchase.

In Brazil, Palmeiras have become the fifth and arguably most prominent football team to introduce the tokens to their fans. The club, from São Paolo, is the most successful on the continent when it comes to domestic success It proudly boasts a worldwide fanbase of over 16 million supporters and is delighted to offer their fans the NFT. “This is a potentially wide and powerful partnership, which is able to promote an active behaviour and help us to increase our fan engagement in Brazil and around the world,” said Maurício Galiotte, who is the club president.

Heading up into North America, Socios have already signed agreements with teams across many of the biggest leagues in the country. 24 NBA clubs including the Milwaukee Bucks who are the reigning champions, Tampa Bay Lightning, who are the Stanley Cup holders in the NHL, and the New England Patriots in NFL, are also partnering with the company too.

But these are only deals that will see in-stadium branding for the company being prominent across the board. Fan engagement opportunities are being accessed via smartphone apps and club websites with prediction games available with prizes for correct answers. The fan token has yet to be offered; this is likely due to the current regulations not allowing franchisees to partner with companies linked to cryptocurrencies. However, it is notable that authorities have permitted Socios to step onto the field, figuratively speaking.

It could be said that this has been allowed due to them not dealing in currency directly; that is the responsibility of their parent company, Chiliz. However, with the pair intrinsically linked, it is arguable that it’s only a matter of time before the NFT does come to sports fans in North America, too, opening up a whole new world of opportunity for sports fans and investors alike.

Best time ever for African footballers in Europe
Stage set for Jose Mourinho to deliver at Spurs
The Nuance in the Decision on Manager Gernot Rohr
Chineme Martins: Are We Not All Culpable?
Dear MoS Sunday Dare, dare to succeed!
TAGGED:AmericaCryptocurrencyFan tokenLa LigaMilwaukee BucksNBANFTPremier LeagueSpainUK
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Print
Previous Article NPFL Review: Champions Akwa United held in Uyo
Next Article Gbenga Ogunbote dismisses NPFL title talk
Leave a Comment

Leave a ReplyCancel reply

Categories

YourSportsMemo

Latest News

CAF Unveils Danone as AFCON, WAFCON Official Partners
Football News
NPFL: Ahmed Musa keen to reposition Kano Pillars
Football News NPFL
NPFL: Evans Ogbonda signs new deal with Rangers International
Football News NPFL
Premier League: Super Eagles Ola Aina excited to remain at Forest
Football News Super Eagles

Stay Connected

FacebookLike
XFollow
InstagramFollow

Archives

Latest News

WAFCON 2024 Match Preview: Nigeria vs Tunisia
Blogs News Super Falcons
Athletics: Amusan Clocks 12.38s for Second in Eugene
Athletics News
Scarcity of goals as NNL SUPER 8 begins
Football News

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 14.8K other subscribers
ACLSportsACLSports
Follow US
© ACLSports. All Rights Reserved.
adbanner