Arsenal have signed an agreement with crypto company Chiliz for the launch of the club’s fan tokens known as the $AFC Fan Token on their platform Socios.com.
These fan tokens introduced by Chiliz on their platform Socios.com allow the clubs or franchises to use it as digital assets, through which fans that use them are eligible for exciting rewards. These also provide for access to exclusive promotional content for the users, augmented reality features known as ‘Token Hunt’, which turns the environment around you into a digital interface by placing virtual objects in the real world. In addition, fans will also stand a chance to win matchday tickets and compete with each other in virtual leagues on the Socios.com platform.
In addition, there would be added features launched by Chiliz as a part of this agreement. This will see the fans of Arsenal Football Club who have won various rewards throughout the season, have the option to a free renewal of their $AFC Fan Token for a specified time as per terms and conditions. The aim of the makers is to make Socios.com as a platform where all of Arsenal’s fans globally can unite and indulge in various fan engagement activities and attain club-related benefits.
Peter Silverstone, Commercial Director at Arsenal, shared his insights on this partnership and said, “We are excited to launch this partnership with Socios that will bring our huge global fan base even closer to the club. Socios.com is leading the way in blockchain in the sports industry, as we have seen from their relationships with other leading European clubs. When we launch the $AFC Fan Tokens together we will give our hundreds of millions of fans worldwide more opportunities to interact with the club and be a part of our global family.”
The crypto platform generates half of its revenue from the sale of its fan tokens with its partner clubs, which already include the likes of European giants FC Barcelona, AC Milan, Manchester City, Valencia, amongst others. The estimated amount generated by such fan tokens has been quoted around $150m in the year 2021.
Last month Chiliz entered into an agreement with the Argentina National Team, and thereby added to the list of association with national teams, following its partnership with the Portugal National Team. Last week it also signed a deal with the Argentina Football Association (AFA) for the naming rights of the country’s first division football league.
Alexandre Dreyfrus, CEO, Chiliz and Socios.com, also expressed his delight on this partnership and said “Every football fan is part of a community. In fact, one of the best things about being a football fan is feeling like you’re part of something bigger. Socios.com will become the meeting place for these fans and $AFC Fan Tokens the tools through which they are able to add a new layer to their relationship with the club.”
Chiliz has not restricted itself to football as it always aimed to expand its reach in the sporting world. The NBA and the UFC, two American powerhouses in sports have also been exploring the crypto market recently. Following their interest, Chiliz struck a deal with the NBA’s Boston Celtics and Philadelphia 76ers. Considering the enormous potential of the PL market and global fanbase of its clubs, this is a masterstroke from the crypto based company.