Spanish top flight football club Valencia CF has partnered with Chilliz, a leading blockchain fintech provider and developer of the Socios.com sports fan engagement platform for its upcoming cryptocurrency dubbed the $VCF Fan Token.
The partnership will see Valencia CF become the first football team to have its fan token name displayed on the front of its jersey throughout the 2021/2022 season, Socios noted in a blog post today.
$VCF Presents Enticing Opportunities for Fans
Per the announcement, the $VCF Fan Token, which is expected to hit the market in the coming weeks, would enable Valencia supporters to have a more powerful interaction in the club’s day-to-day activities, especially its decision making process.
Furthermore, Valencia fans can now have their say on other club’s activities such as how best to design its stadium, celebration anthems and exclusive shirt designs, among others, Socios added.
The announcement notes that holders of the token may have the opportunity to meet with the club’s existing and past players, and also play real matches at the famous Mestalla pitch – Valencia CF’s home stadium.
Fan Tokens Aligns With Club’s Vision
According to Socios, the initiative is part of Valencia’s vision to strive for innovation, which creates new ways for the club to engage with its fanbase globally.
This initiative is coming at a time when football clubs are not allowed to have fans present on regular match days due to the coronavirus (COVID-19) pandemic.
However, football clubs are only allowed to open their doors to a fraction of fans on special occasions, like the final match of a football competition.
Despite this exception, most clubs have consistently complained about the massive decline in revenues, with several ways being introduced to raise funds.
Commenting on the development, Anil Murthy, President of Valencia CF stated that fans have always been at the center of football and he is glad that its recent partnership with Socios can help keep the tradition alive, adding:
“With them [Chilliz], Valencia CF will enter the next generation of fan engagement through their Socios.com platform which will revolutionize fan engagement through technology and innovation.”
More Club Adoption Gives Socios massive Revenue
Valencia CF’s partnership with Chilliz makes it the 38th football team to join the Socio’s platform for the purpose of developing a native fan token.
Coinfomania reported that football clubs like Manchester City, Ac Milan, Juventus, BSC Young Boys and a host of many other football teams are already on the Socios network.
Since the fan token initiative was launched, the platform has raised over $150 million in revenue for Socios.com and all its partners, with more feats set to be achieved in the coming years as more football teams join the bandwagon to integrate with the platform.