More and more football clubs are issuing their own cryptocurrencies called ‘fan tokens’. The buyers of these ‘fan tokens’ can for example participate in the decisions taken about certain points within their club.
In addition, the digital cash aims to bring essential income to clubs affected by the corona crisis, because the stadiums have been deserted.
In recent months, clubs as well known as Manchester City (England) and AC Milan (Italy) have launched ‘fan tokens’. FC Barcelona, Paris Saint-Germain and Juventus Turin have done the same. Argentina’s national team also introduced their own digital currency last week, and the Spanish national team are planning to do the same. Like other digital cash, ‘fan tokens’ are traded on crypto-platforms that are regularly characterized by large price fluctuations.
Fan involvement
For example, ‘fan tokens’ holders can co-decide what kind of music to play, when their club scores a goal or which images are used on the teams’ social media. According to football clubs, this also allows for greater involvement of supporters at the global level. Holders of ‘fan tokens’ are also taken into consideration for special promotional actions.
But there are also criticisms. So Malcolm Clarke, president of the Football Supporters’ Association which represents English and Welsh fans, believes that clubs issuing ‘fan tokens’ want to make money off their supporters by allowing them to ” have a say in matters of little importance. And this, while fans are already spending a lot on support cards and the like to support and follow their club. As for the president of the West Ham United fan club, he wonders why supporters should pay to have a voice in their club.
In addition, the digital cash aims to provide much needed income to clubs affected by the corona crisis, because the stadiums have been deserted. In recent months, clubs as well-known as Manchester City (England) and AC Milan (Italy) have launched ‘fan tokens’. FC Barcelona, Paris Saint-Germain and Juventus Turin have done the same. Argentina’s national team also introduced their own digital currency last week, and the Spanish national team are planning to do the same. Like other digital species, ‘fan tokens’ are traded on crypto-platforms that are regularly characterized by large price fluctuations; for example, ‘fan tokens’ holders can co-decide on the genre of music to be played. make it heard, when their club scores a goal or images used on teams’ social media. According to football clubs, this also allows for greater involvement of supporters at the global level. Holders of ‘fan tokens’ are also considered for special promotion actions, but there are also criticisms. So Malcolm Clarke, president of the Football Supporters’ Association which represents English and Welsh fans, believes that clubs issuing ‘fan tokens’ want to make money off their supporters by allowing them to ” have a say in matters of little importance. And this, while fans are already spending a lot on support cards and the like to support and follow their club. As for the president of the West Ham United fan club, he wonders why supporters should pay to have a voice in their club.
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