Manchester City enters crypto league with the launch of the $CITY Fan Token
Manchester City has moved on to a new exciting venture, building upon their success in the Premier League. This English football team has jumped into the crypto league after winning the award as the most innovative sports team this year. With this move into the crypto world, Manchester City has confirmed a new partnership with the Socios. This partnership has allowed the creation of a new $CITY token, this is great news for fans as they can now earn VIP rewards. Fans can also use this token to access club promotions, AR features, and vote in upcoming polls all through the Socios website.
Socios is no stranger to high-profile teams, as they have also collaborated with Juventus, AC Milan, Barcelona, and Paris Saint-Germain. Due to the huge success of previous partnerships, which is run by the crypto project Chillz, Socios was a clear choice for Manchester City.
Man City is also partnering with digital gaming company Animoca to develop blockchain games and merchandise. These new games will be historic for Animoca as they will be the first soccer-related digital assets they have created.
Fungible $CITY tokens
During the creation process, it was crucial to Manchester City that their tokens were fungible. The fungibility of these tokens was important as it enables fans to exchange them with one another. These devoted fans can not only trade with other fans, but they can also use their tokens to buy products and services in the crypto world.
This new collaboration would help those who join the official fan club, known as the Cityzens. These loyal fans will be given a free $CITY token, which they can sell or exchange in any way they see fit. Manchester City showed their commitment to their fans by announcing a new level of online interaction for their global audience. It wouldn’t be a football team without a goal. In the case of Manchester City, the goal of these tokens was to bring fans closer to their beloved teams. To strengthen the bond between the club and its fans, users can access both digital and real rewards once the restrictions are lifted.
More from Man City
Thanks to the partnership with Animoca, Manchester City can now join in on this craze of digital collectibles also known as NFTs. The benefit of non-fungible tokens (NFTs) is that they are a form of digital identity that cannot be falsified. NFTs have grown in popularity in recent months especially after the release of NBA Top Shots. CoinMarketCap, the biggest price monitoring platform, has realised how profitable the NFT market really is. From this discovery, this platform has created a page purely for Fans Token traded on Chillz, including Manchester City’s tokens. The market capitalization of all Fan Tokens has recently reached over $400 million. With a market value of $3.3 billion dollars, Chillz, the virtual currency, is one of the top 35 cryptocurrencies worldwide.