Manchester City Fan Token

What is Manchester City Fan Token?

The Manchester City Fan Token (CITY) is part of Socios, a platform featuring 40 fan tokens associated with various international football clubs. These tokens empower fans to participate in their clubs' decision-making processes, gain VIP rewards, and unlock exclusive access to promotions, games, chats, and the opportunity to be recognized as super fans.

Functioning as a utility token on the Chiliz Chain, which is constructed by Chiliz—a fintech blockchain company—CITY operates as a Proof-of-Authority sidechain built on Ethereum. Similar to other fan tokens, the Manchester City Fan Token allows supporters to exert influence on the team's operations by participating in team polls, where their input is taken into consideration. This influence extends to decisions such as selecting jersey designs, naming training venues, and determining the next fan event.

CITY serves as a gateway for every Manchester City fan to express their loyalty and support for the team. By holding CITY tokens, fans can accumulate reward points, access VIP experiences, and purchase club merchandise. As with many other cryptocurrency platforms, a larger token holding equates to a greater level of influence within the tokenbase.

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Recent Video Interview

Main points of the interview:

• Fan tokens' role in bridging crypto with mainstream sports.
• Socios' focus on real use cases and sports team partnerships has driven growth, with 85 tokens launched and over 2 million users.
• Contrasts Socios' blockchain-based fan tokens with traditional social platforms.
• Future Vision: expand beyond fan tokens, introducing new features and opening their ecosystem for broader utility and innovation in sports and entertainment.

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How Does Socios Work?

Each of Socios' partner clubs has committed to participating in a series of binding and non-binding polls throughout the football season. In these polls, there will always be a minimum of two choices, allowing participants to select their preferred option. In the case of binding votes, the club is obligated to bring to life the option that receives the highest number of votes. On the other hand, non-binding polls serve as a means for clubs to assess fan opinions without being obligated to act on the results. All polls are conducted in a secure environment, with votes recorded on the blockchain, ensuring transparency and preventing any alterations to the results.

The clubs themselves determine the subjects of the polls, providing endless possibilities based on the degree of fan input sought. Fans could influence decisions on various aspects, such as kit design, 'man of the match' selections, summer tour locations, and even the club crest.

Socios operates on blockchain technology and utilizes the digital currency $CHZ. Unlike physical currencies like pounds, euros, or dollars used in traditional shopping, cryptocurrencies exist solely in the digital realm and can only be spent on specific platforms. Instead of relying on a central authority, cryptocurrencies leverage an encrypted peer-to-peer network to manage balances and verify transactions. This network, known as a blockchain, functions as a comprehensive public ledger of all transactions, including sender, receiver, value, and approximate time, all verified and anonymized. Each new transaction forms a new block, and once set, each block is immutable, meaning it cannot be altered. Blockchain is chosen for its practicality in maintaining voting integrity while transforming voting rights into a tradable commodity.

Socios Team Background

Headquartered in Madrid, Switzerland, and Malta, with additional offices in Istanbul, Miami, Lyon, South Korea, Brazil, and London, the Chiliz / Socios team comprises over 220 professionals. They collaborate with a diverse network of 120+ partners spanning 27 countries. Both Chiliz and Socios operate as subsidiaries under the umbrella of Mediarex Group, a global sports and entertainment organization established in 2006.

Alexandre Dreyfus, the Founder and CEO, holds a 76% ownership stake through his personal holding company, Zokay Investments Ltd. Other notable shareholders include John Gleasure, the Executive Vice Chairman and co-founder of DAZN Group, Xavier Niel, a prominent French telecom mogul, and Ceyuan Ventures, a venture capital firm based in Beijing.

In 2018, Chiliz successfully raised $66 million through a digital asset private placement. Presently, the company boasts a treasury with an excess of $500 million in digital assets.

Socios Project Development

Socios, a pioneering fan engagement and rewards app, secured the 50th position in The STA Group's 2023 Sports Technology Power List, outperforming digital giants such as EA Sports, Real Madrid, and Adidas. The list, led by Red Bull Racing, ranks the top 100 brands in the sports technology sector. Socios, recognized as the highest-ranking blockchain platform, demonstrated a significant improvement from its 77th position in the previous year.

In 2023, Socios experienced remarkable growth, reaching 2 million users and expanding its user base by 30%. The platform introduced Fan Tokens with five new clubs, including Premier League's Tottenham Hotspur. Notably, Socios was one of the two blockchain organizations featured in the list alongside the football fantasy game Sorare.

The platform's success was highlighted by its inclusion in the top 50 list, setting the stage for a promising year ahead. Socios has been acknowledged for its 'Fan In The Box' escape room campaign with AS Roma at the Globe Soccer Awards, reinforcing its position as a pioneering force in sports technology.

Manchester City Fan Token Price Analysis

As of November 25 2024 Manchester City Fan Token has a marketcap of $16M. This is {{percentagefromath}} from its all time high of $36.19. In terms of its tokenomics, there's a total supply of 20M with 40% currently outstanding. Keep in mind Manchester City Fan Token has a fully diluted value of $42M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.