Many Manchester City fans worldwide can enjoy benefits from purchasing the newly launched $CITY tokens. Being one of the top teams on the premier league charts, the English club would quickly push the blockchain trend towards their loyal fans. Apart from a very successful season, the club has more plans in mind, and that involves giving fans a chance to own $CITY tokens.
The demand for blockchain products is becoming more prominent than ever, with celebrities and sports clubs creating tokens. Their influence is the primary factor for the success of numerous tokens out there. Some fans asked for the token creation, and the club has finally made it official.
Manchester City launches tokens
The club did not launch the tokens alone, as it required the services of Socio.com, a tokenization platform that made the tokens for the well-known club. The token gives holders a series of benefits, such as getting access to VIP rewards, club promotions, some binding and non-binding polls on the tokenization platform.
Token creation for clubs has become exceedingly popular amongst football teams, as Socio.com has collaborated with other popular football teams to make that a reality. Some of the clubs are AC Milan, Juventus, Barcelona and others. These famous clubs all have social tokens that were launched through a collaboration with a Malta-based crypto-based website.
Socio.com announced the news of Manchester City’s token launch, and this is causing a lot of buzz for their fans and members of the digital asset space. Apart from the token’s launch, the club will partner with another blockchain-based website called Animoca, known for creating digital entertainment. The platform would help Manchester City to create blockchain-based games and collectibles.
It’s safe to note that this project would be the first for the entertainment company regarding soccer-based assets. The first impressive thing about the Manchester city project is the unique design of the tokens. The tokens are also fungible, which means that they can be exchanged for money. Holders can trade their assets and can even swap them for more popular assets like Bitcoin.
Man City fans to enjoy cool benefits
Interestingly, the token’s holders can also use it to buy goods and services, meaning that it’s not an ordinary social token. Fortunately, the club would give fans registered on its official fan club a $CITY token. The club explained some things about the token while adding that it would engage fans globally digitally.
The club had some regulatory issues awhile ago, where the bookkeepers were sanctioned for disguising equity funds as sponsorship contributions. The club was able to gain some stance in court, where the ban was officially removed.
Asides from fungibles, the club would also have NFTs, which would only serve as digital collectibles. The partnership with Animoca would help the non-fungible token creation. The tokens would be unique like normal collectibles, while they would be on the Ethereum blockchain.
Many people are using the Ethereum network for numerous projects, both in DeFi and NFTs, making the blockchain even more slowly than usual. Fans would enjoy holding unique $CITY tokens with the new collaboration with blockchain-based firms.