There’s no doubt about it: tokenization will be one of the most disruptive breakthroughs in human history. There are already thousands of tokens today, but it’s likely there’ll be millions in the future as more of the world around us becomes tokenized. While this world has not yet arrived, some early signs show that we are already on the way there. We think that the emergence of football tokens is one of the clearest signs yet that tokenization will impact everyone, which is why we curated a Collection dedicated to some of the leading football club tokens available today. Learn more about Football Favourites and why fan tokens could be important below.
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Why are football clubs launching tokens?
Since the token movement started, thousands of tokens offering a multitude of use cases have emerged. While many faded out without fulfilling their purpose, the number of tokens to emerge has significantly increased in recent years as the cryptocurrency space has grown.
Similarly, the number of use cases for tokens have grown and become more experimental in recent years. While the first cryptocurrency token, Bitcoin, offered utility as a form of cash and later “digital gold,” recent innovations like DeFi and NFTs have given rise to use cases such as yield-generating tokens and tokenized digital art.
One of the most interesting developments of the past few years in the token ecosystem has been the emergence of fan tokens. Helped by projects like Chiliz, many of the world’s top sports clubs have opted to launch their own tokens to form closer ties with their communities.
(Photo: AP Photo/Luca Bruno)
Some of the world’s top football clubs, including giants like AC Milan and FC Barcelona, have launched their own fan tokens in recent years as hype surrounding blockchain technology has hit a fever pitch. However, there are good reasons for why they may be doing so beyond simply jumping onto the bandwagon.
By issuing tokens to loyal supporters, organisations such as football clubs have a new way to engage with their audience and bring their communities closer by allowing them to feel invested in their interests. Issuing tokens allows football clubs to offer exclusive rewards and benefits to token holders, meaning that the token can serve as a social token or membership card.
The future of fan tokens
Several major football clubs have already issued tokens as a way of offering rewards to their most loyal fans, but for smaller outfits, tokenization can also offer a way to monetise an audience.
While the likes of AC Milan and other major sporting outfits have already begun exploring the possibilities of tokenization, it’s likely that smaller groups will start to look into the technology in the future. For example, an independent coffee shop may issue tokens for customers who want to support them in sourcing beans from abroad. Similarly, an emerging musician may issue a token to 100 loyal fans to offer them rewards. In doing so, they could earn a revenue that surpasses traditional avenues such as music streaming and mailing lists.
Fan tokens are often discussed interchangeably with NFTs since many NFTs operate a similar model. In the past couple of years, celebrities, musicians and sports stars like Lionel Messi, Eminem, and Grimes have released their own NFTs to engage with their fans.
While many NFTs currently take the form of digital artwork, they often serve as “membership cards” to an exclusive community that offers special rewards to members. Bored Ape Yacht Club is an example of such a membership NFT, borrowing from a template perfected by the pioneering NFT avatar collection CryptoPunks.
Today, several leading sports brands have released their own fan tokens through the Chiliz platform. However, in the future, it’s likely that any brand or individual with an engaged community will launch their own tokens in the form of fan tokens or NFTs in the future. Just as every major football club has its own website, Facebook page and Instagram account in 2022, in the future they will all have their own token.
The token.com Collection
While many sports brands are already experimenting with tokens, Football Favourites shines a light on the world’s leading teams pushing boundaries in the space today. They are AC Milan, Atlético de Madrid, FC Barcelona, FC Porto, Manchester City, Paris Saint-Germain, Santos FC, and S.S. Lazio.
Each of these clubs is known for being a powerhouse in the football world, but they are also blazing the trail when it comes to blockchain adoption. Their tokens offer super fans a chance to show their support for their favourite team, and in return they can receive exclusive rewards and other benefits.
Football Favourites also features Chiliz, a project helping to onboard mass crypto adoption by helping sports brands engage with their audiences through tokens.
Discover more
Fan tokens could soon be everywhere, so now is the perfect time to learn more about them and get ahead of the curve. Head to the token.com app to discover some of the top football tokens in our Football Favourites Collection. Once you’ve done that, drop by our community channels and let us know what other brands you’d like to see release their own tokens in the future. After all, tokenization is inevitable, and we’ll have tokens for everything.
Learn more about token.com here
