Manchester City Joins The Crypto Train, Launches Fan Token

Premier League leader Manchester City announced that it has become the latest football club to step into the cryptocurrency arena after teaming up with Socios.com to launch the $CITY fan token.

Socios.com is a fan engagement and rewards mobile app built on the Chiliz blockchain. According to the club, Manchester City fans across the world will be able to use $CITY Fan Tokens to access VIP rewards, Club promotions, games, AR-enabled features, and voting rights in certain binding and non-binding Club polls on Socios.com.

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The launch of the $CITY Fan Token also creates a new layer of digital engagement for the Premier League runaway leaders who sit 14 points clear of local rivals Manchester United.

“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.

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“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.

Chiliz, powering Socios.com, aims to give sports and esports fans the ability to crowd-manage their favorite teams, games, leagues, and events.

The four-time Premier League champions join an elite selection of big-name football clubs to enter crypto. Rangers adopted Bitci last month in the wake of AC Milan announcing they had raised more than €5 million with the launch of a fan token.

A raft of other clubs such as FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, Atlético de Madrid, Galatasaray, and Trabzonspor have also reported impressive returns on their fledgling crypto projects.

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.