Tottenham Hotspur will become the latest Premier League team to tap into blockchain technology to issue and manage its own Web3 fan token to drive supporter engagement and rewards.
Spurs will issue the fan token through Socios.com, the fan engagement platform built on the Chiliz blockchain that has attracted over 80 major sporting teams from different codes around the world. The platform enables teams to issue and manage fan tokens, digital collectibles and real world rewards, while users can participate in DAO-like decisions involving their favourite teams.
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Spurs join the likes of Premier League champions Manchester City, Arsenal Barcelona, Paris Saint-Germain, Juventus, Inter Milan, AC Milan,Atlético Madrid and A.S. Roma, which are some of the most prominent teams in professional football making use of blockchain to innovate engagement with supporters.
The launch will allow $SPURS token holders to take part in onchain voting on a variety of team dynamics, including potential kit changes. Spurs will also partner with MatchWornShit, the platform that facilitates auctions of jerseys worn by players during games that are authenticated on the Chiliz blockchain.
Commenting on the partnership, Tottenham commercial sales director Ryan Norys said that the fan token will build on its existing membership scheme with a “new range of club-related rewards and experiences.”
Speaking directly to Cointelegraph, Chiliz and Socios CEO Alexandre Dreyfus said that talks have been ongoing with Spurs since 2022. He also said that the club would use Socios while simultaneously integrating their fan token into their own loyalty programme and mobile app in the future.
$Spurs tokens are set to be launched on Oct. 4 and will be listed across cryptocurrency exchanges that support Chiliz tokens. Socios users in the United Kingdom can also expect to see disclaimers on fan token offerings from Oct. 8, as the marketing of cryptoasset promotions comes under the auspices of the Financial Conduct Authority (FCA).
This will require stricter rules for advertising as well as a disclaimer warning investors of potential total losses investing in cryptocurrencies or fan tokens.
Manchester City, Arsenal, Aston Villa, Everton, Leeds and Crystal Palace are the other Premier League outfits that manage fan tokens on the platform, with Dreyfus noting that the…
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