Tottenham Hotspur, an English Premier League club, is all set to launch its own fan token on Chiliz Chain. The Spurs Fan Token ($SPURS) will provide fans of the North London team the chance to interact in innovative ways and have access to exclusive incentives and experiences.
The Spurs Fan Token will operate on Chiliz Chain, the Layer 1 SportFi network that recently crossed two million members, and be accessed via Socios.com, a leading fan interaction and incentives platform. Chiliz Chain is already being used by over 80 major sports organizations to host their own fan tokens and communicate with their fan bases across the world. Spurs will become the first Premier League club to do it in the previous two years.
The $SPURS token issuing on Chiliz Chain by Tottenham is in line with the team’s current digital strategy. Included in this is a collaboration with MatchWornShirt, whose auctions are verified on Chiliz Chain. Onchain voting will eventually be available to $SPURS token owners, and applications that incorporate Chiliz Chain will be able to add new use cases, significantly enhancing network effects.
Chiliz Chain, which was created especially for the sports sector, offers a smooth framework for the Spurs Fan Token. With more than two million user wallets and more than 60,000 daily users, it provides security and scalability. Since 2018, the $400M in revenue for clubs and leagues has been handled via Chiliz’ blockchain platform.
Tottenham Hotspur’s participation in SportFi comes as the most recent Sports Fan Insights research from Deloitte indicates that over 40% of fans are aware with the usage of fan tokens in sports and that about 75% of them are interested in fan tokens that provide opportunities to win prizes.
Ryan Norys, Commercial Sales Director, Tottenham Hotspur, said: “We’re pleased to be able to provide fans worldwide with a new range of Club-related rewards and experiences. Our Fan Token will build on the many benefits of our existing membership scheme. The partnership is another example of how the Club is working to create additional recurring sources of revenue to reinvest in our football activities.”
Alexandre Dreyfus, CEO of Chiliz & Socios.com, said: “We are delighted to welcome Tottenham Hotspur to the Chiliz ecosystem as they launch their first Fan Token and join more than 80 teams that have launched tokens on the chain. Our mission is to make the Chiliz Chain the largest web 3 sports and entertainment centric ecosystem in the world. As the number of user wallets passes the two million mark we continue to build a community of developers that are delivering new products and services on the chain that can utilise fan tokens and deliver new tools to activate fans for sports properties.”
On October 4, 2023, all fans will be able to purchase $SPURS for $2 apiece in a Fan Token Offering (FTO). After that, the company will list on leading international exchanges, giving supporters access to key markets including Asia.
Source: https://thenewscrypto.com/tottenham-hotspur-all-set-to-release-spurs-fan-token-on-chiliz-chain/