English Premier League club Tottenham Hotspur has decided to issue its own fan token on the cryptocurrency platform Chiliz Chain, joining the growing number of teams doing so. Spurs fans will be able to use the Spurs Fan Token ($SPURS) on Socios.com, the industry’s premier fan engagement and rewards platform. The token will enable them to participate in the club’s activities in a fun new way and get access to exclusive rewards and experiences from the North London club.
The Fan Token is a utility token, a type of digital currency. As a Fan Token holder, you can have the opportunity to participate in polls conducted by the team itself and have your voice heard by other diehard fans around the world.
Chiliz recently surpassed the two million user milestone, and the addition of a major English Premier League club is a big deal for the company. Chiliz Chain is already being used by more than 80 of the biggest sports clubs in the world to host their own fan tokens while interacting with their fanbase. Tottenham Hotspur will be the first Premier League team to do so in two years. The other EPL teams with fan tokens are Arsenal, Everton, Manchester City, Aston Villa and Crystal Palace.
The Spurs Fan Token is built on top of the robust infrastructure provided by Chiliz Chain, a platform designed exclusively for the sports industry. With over 2 million user wallets and 60k+ daily user volume, it prides itself on a high level of security and scalability. Furthermore, the Chiliz blockchain has processed over $400M in team and league income since 2018.
Ultimately, $SPURS token holders will be able to cast votes on the blockchain, and apps that use Chiliz Chain will be able to expand their functionality to take advantage of these new use cases. The club’s current digital strategy is in line with the plan to launch the $SPURS token on Chiliz Chain. One such company is MatchWornShirt, whose auctions are verified by Chiliz Chain.
Ryan Norys, Commercial Sales Director, Tottenham Hotspur, said, “Our Fan Token will build on the many benefits of our existing membership scheme. The partnership is another example of how the Club is working to create additional recurring sources of revenue to reinvest in our football activities.”
Tottenham will launch its Fan Token Offering (FTO) on October 4, 2023, and fans will be able to buy $SPURS for $2 apiece. The next step is to get listed on a major global crypto exchange, which will expose the company to investors in the vibrant global digital assets market.
This post was last modified on Oct 03, 2023, 08:22 BST 08:22