Manchester City finally launch their own fan token
The start of this year was marked by a huge explosion in the digital collectibles market, which has caused the price of the CHZ token to skyrocket (by over 1,000% in just over 3 weeks). In addition to this, tokens issued by European footballing giants: PSG (Paris Saint-Germain), JUV (Juventus), ACM (AC Milan), all also shot up in value.
Now, another footballing powerhouse, Manchester City, has decided to join the blockchain party and launch its own token in the Chiliz ecosystem.
Table of contents:
- CITY joins the Socios football gang
- City’s legal problems and CHZ’s mind-blowing run
CITY joins the Socios football gang
Four-time Premier League champions, Manchester City, recently became the latest big name from the world of football to sign on the dotted line with Socios, who are well-known for creating a unique ecosystem that facilitates fan engagement for top sports organizations. The tokens of footballing giants such as Juventus and Barcelona have already been making waves in the cryptocurrency market along with other sports collectibles and non-fungible tokens, and have become the talk of the town. So, it was only logical that one of the most successful and popular football clubs of the current decade would jump on the bandwagon and allow their fans to influence some of the club’s decisions.
Holders of the CITY tokens will be eligible for various VIP rewards, interesting promos and online games, as well as have access to polls and some feats that involve augmented reality.
City’s legal problems and CHZ’s mind-blowing run
Stephan Cieplik, a senior executive at City Football Group, Manchester City’s parent company, informed all those who have City’s membership card that they would get a free CITY token when this token is released in order to give them a chance to get acquainted with the full scope of perks and rewards on offer. The founder of Socios and Chiliz, Alexandre Dreyfus, has assured the fans that once COVID-19 restrictions have been lifted, they will be able to take advantage of everything these blockchain-based fan tokens have to offer. This news couldn’t have come at a better time for the fans of the fifth richest club in the world, who are still in with a shout of winning 4 trophies this season.
At the same time, Socios’s native token Chiliz (CHZ) has also gone on a mind-blowing bull run over the past few weeks, having recorded the market capitalization of $1 billion at its peak, when the price rose from $0.03 to $0.94 and facilitated a huge increase in the price of tokens from football teams who’ve partnered with Socios.