Man City dip into cryptocurrency to launch their own digital fan tokens

Manchester City have become the latest footballing giant to dip into cryptocurrency and launch their own digital fan tokens.

The deal, with Socios.com and digital currency Chiliz, will allow supporters across the world to secure VIP rewards and voting rights through the $CITY token.

Barcelona, AC Milan, Juventus and Paris Saint-Germain are among the sports teams who use fan tokens, a market now worth nearly £300million.

The tokens form part of a drive by clubs to tap into their global fan base - and expand support outside their traditional base.

The tradable, digital collectibles are designed to bring supporters worldwide closer to the team, even allowing them to have a say in certain decisions.

Juventus, for example, gave owners of fan tokens the chance to pick the song blasted around their stadium after each goal.

This City deal will give token holders access to club promotions, games, Alternate Reality-enabled features and voting rights in certain polls.

Existing club members will be eligible to receive a free $CITY token.

'(This) will provide another opportunity for our fans all over the world to get even closer to the club they love,' said Stephan Cieplik, Senior Vice President of Global Partnerships Sales, of City Football Group.

'Fans will have access to fantastic competitions and VIP experiences and be able to vote on club initiatives... we recognise the significant interest in blockchain and the opportunity it provides us to engage further our global fanbase'

Alexandre Dreyfus, CEO of Chiliz and Socios.com, said: '(City) have proven they are ahead of the pack in embracing innovation and will enhance that status further through the $CITY Fan Token.

'Socios.com and $CITY Fan Tokens will be hugely complementary to City’s global approach, providing fans around the world with unprecedented engagement opportunities, as well as unique digital, and - once restrictions are lifted - real-life rewards and experiences.'