Fintech Football: A Token for Your Thoughts?

The 2022 World Cup is just around the corner and everyone has either bought their ticket or regretting not getting them sooner. Sure, everyone wants to see their favourite team playing against the big names, cheering for them and getting into that football spirit, but they just ran out of luck… or money! There is another way however to get closer to your favourite team without any tickets, all you need is a token!

Fan Tokens?

Fan tokens are cryptocurrencies that allow their holders to be involved in some of their favourite teams’ decisions. Its worth stems from how much fans value participating in the team and in turn earning special benefits.

The value of these tokens is not unchangeable, they can go up or decline based on the team's performance or BTS activities. Just know that when Messi joined PSG, the PSG fan token had an incredible price gain and grew by 300% at one point!

Think of it like it’s an exclusive membership for your team’s official fan club but instead of just sharing and discussing your ideas with other fans, you share them with the team as well. Fan tokens are fungible AKA interchangeable. That means you can exchange fan tokens with football merchandise, VIP access, limited edition NFTS, or rewards.

The appeal of fan tokens

As a fan of many things, there is a special type of joy when you buy fandom merch. Fan tokens offer the same experience for football fans, but that is not all. The most appealing aspect of it is that members can have a say in their favourite team’s decisions. Such decisions could be like choosing new design features, slogans, etc.…

For instance, through the PSG fan token, fans chose to feature this message “together we can, together we will! Let's take another step towards glory and victory," in the team’s locker room. Minor as they be, fan tokens allow teams to create a new digital community with their fans. Not to mention that fan tokens could also get your ticket discount for your team’s matches. That's a pretty good deal!

Who’s dominating the game?

Socios, a platform created by Chiliz, is dominating the football world of fan tokens. They’ve got several powerful players in the palm of their hands such as; FC Barcelona, Manchester City, PSG, Juventus, Inter, Arsenal, AS Roma, and more!

They’re not the only player in the game but they definitely have the upper hand. Binance has also joined the game and is already offering fan tokens for Lazio, Santos FC, and FC Porto.

Fan tokens are creating a priceless experience for the people. It’s making a dent in the parasocial relationship fans have with their teams. By allowing the fans to have a say in their team’s future, it changes the relationship from passive to active.

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