English Premier League football club West Ham United is launching its own fan token in association with blockchain startup Socios. The token allows fans to vote on club decisions and gain access to exclusive rewards. West Ham United is the first English football club to partner with Socios, which has already signed up the Italian champions of Juventus and the French champions Paris Saint Germain.
The Socios platform uses CHZ as its native token. Fans will be able to exchange fan tokens for CHZ or use their tokens to vote, earn club rewards or compete for once-in-a-lifetime experiences.
A group of companies invested $65 million in the social crypto company. Among the investors are companies like OK Blockchain Capital, FBG Capital, Binance and Bancor. Juventus, Paris Saint Germain and West Ham United are probably just the first clubs to sign up for their fan token service.
For a while cryptocurrency companies like DX Exchange have been sponsoring football matches on television. Liverpool F.C. signed a partnership with Forex trading platform TigerWit, while also Crystal Palace and Leicester City have similar partnerships. However, West Ham United is the first Premier League club to introduce fan tokens and most likely it won’t be the last.
Also published on Medium.