Sports blockchain platform Chiliz has partnered with Manchester City to launch a fan token for the English Premier League football club. The $CITY fan token will be available via Socios.com.
Manchester City’s global fanbase will be able to use the NFT to access exclusive rewards, promotions, games, and AR-enabled features. Fan token holders will also have voting rights in certain binding and non-binding polls on Socios.com. Additionally, fans of the FC that are already registered as “Cityzens” are eligible to receive a free $CITY fan token.
“We recognize the significant interest in blockchain and the opportunity it provides us to engage further our global fanbase and we are confident that the Manchester City Fan Token will prove a popular addition to our digital line-up,” said Stephan Cieplik, Senior Vice President of Global Partnerships Sales, City Football Group.
“We’ve been extremely impressed with how Socios.com have led the way in this space with other European clubs, and we are confident that we have the right platform to succeed and grow together,” he continued.
“Manchester City have proven they are ahead of the pack in embracing innovation and will enhance that status further through the $CITY Fan Token,” Alexandre Dreyfus, CEO of Chiliz and Socios.com, said of the FC.
“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,” he added.
Chiliz on a Roll
This news already contributes to what has already been a very prosperous month for Chiliz and the NFT market. On March 1, Chiliz’s native token (CHZ) was trading around $0.05. By March 4, the price had tripled to around $0.15. It then doubled once again to almost $0.31 by March 9. On March 12, all hell broke loose as the token nearly breached the $1 threshold before closing around $0.75. Although it dipped back around $0.50 this past week, it is currently trading around $0.70.
CHZ’s spectacular ascent was likely spurred on by the news that Chiliz would be expanding to the American market. On March 2, CEO Dreyfus announced Chiliz would be investing $50 million in opening an office in New York City. “We head to the U.S. with a proven track record in generating millions of dollars of revenue for some of Europe’s biggest sporting organizations,” Dreyfus said. Chiliz has launched fan tokens for other prominent European clubs such as Juventus, Barcelona, Paris St. Germain, and AC Milan.