TL:DR Breakdown:
- AC Milan has signed a multi-year partnership with Socios.com.
- Under the partnership, the Italian club will launch its ACM fan token.
Since the past year, the cryptocurrency sports movement has been gaining traction as popular football clubs have joined to improve fan engagement. On Monday, the Italian professional football club, AC Milan, announced its ACM fan token as part of its collaboration with Chiliz, the world-leading fintech blockchain company for sports and entertainment.
Using the cryptocurrency, AC Milan supporters will be able to take part in certain decisions regarding the football club.
AC Milan prepares for ACM fan token
The development today follows the club’s new multi-year global partnership with Socios.com, the leading blockchain-based fan engagement platform. So, under the new deal, AC Milan will roll out its ACM fan token on the fan engagement platform to raise AC Milan’s engagement with its fans. No specific date was mentioned for the token release, however, the report did note that the ACM fan token will be launched in the coming weeks.
As with other fan tokens, the ACM digital currency will allow the Italian club supporters to become more involved with the club and also participate in making certain decisions for the club. The cryptocurrency will grant the holders other benefits that include VIP experiences and rewards, competitions, games, sponsor promotions, and so on. The partnership is part of AC Milan’s commitment to innovation, as well as growing its digital presence.
Cryptocurrency in sports
AC Milan has become the latest club, if not the first, to announce plans for a fan token. Many other popular football clubs already launched their native digital currency last year. Some of these clubs Barcelona, Juventus, Atletico Madrid, and others. Barca had a massive/flash sale during the token sale period. It’s left to be seen whether the ACM fan token will have a similar sales record. That aside, the crypto-sport movement has been gaining ground, and more professional clubs are likely to join the train.
