The renowned English Premier League club, Tottenham Hotspur, steps boldly into the era of blockchain and fan interaction with the unveiling of its fan-exclusive token, $SPURS, on the Chiliz Blockchain. The North London based club uses this blockchain platform, famed for its tight security and scalability. Since 2018, Chiliz has managed over $400 million for various sports bodies.
The innovation rides on the wings of Socios.com, a fan engagement platform built on Chiliz. The platform allows global sporting teams to administer fan tokens, digital collectibles, and tangible rewards giving fans an experience reminiscent of the decentralized autonomous organization (DAO). This move aligns Spurs with football big shots such as Manchester City, Arsenal, and Barcelona who have taken up blockchain technology eagerly for improved fan rapport.
$SPURS token fabrication comes with attractive prospects for increased fan participation in team-related activities. For instance, token holders will have a hand in decisions, even including potential kit changes. Furthermore, Tottenham will be partnering with MatchWornShirt, a platform that conducts auctions of uniquely autographed jerseys, active during matches, and authenticated on the Chiliz blockchain.
Naturally, there’s a buzz around these developments, especially with the integration of the $SPURS Fan Token into the Club’s membership scheme. One Hotspur+ Members and Season Ticket Holders who are aged 18 and over will receive five free Fan Tokens, while One Hotspur/One Hotspur Connect Members will receive one free Fan Token. These tokens, effective from October 4th, promise a non-transferable free token allowing fans exclusive insights into Club-related activities such as polls and competitions. The use of the tokens will offer various awards and experiences — imagine unlocking quizzes, predictors, and a plethora of other rewards merely by participating!
Amid such enthusiasm, there might be small ripples of skepticism. Regulatory bodies like the Financial Conduct Authority (FCA) may necessitate disclaimers on fan token offerings. However, the positive anticipation persists with Tottenham Hotspur’s commercial sales director, Ryan Norys, expressing excitement about the partnership. He emphasizes that the fan token will supplement their current membership scheme with additional club-related rewards and experiences.
Indeed, as the deloitte’s latest Sports Fan Insights report indicates, this innovative melding of fan tokens and sports is not a fringe development — approximately 40% of current fans have some familiarity with it. With near 75% expressing interest in tokens as access to rewarding experiences, the symbiosis of blockchain technology and sports fandom is an element worth exploring. Undoubtedly, this development marks another investment strategy by sport clubs and opens a new chapter in fan engagement.
Source: Cryptonews
