TL;DR Breakdown
- Wolves set to launch fan token
- How fan token space continue to grow
In a remarkable move for the crypto space, top English Premier League (EPL) football club Wolverhampton Wanderers has partnered with the Turkish blockchain platform Bitci Technology to launch fan tokens.
Announcing the new partnership via an official blog post, Wolverhampton Wanderers noted that the collaboration would enable Bitci.com to create a fan token for the club. And would also allow the Turkish crypto exchange to list the fan token first, before other exchanges globally.
Also, as a result of the partnership, Wolverhampton Wanderers official team’s jerseys for the 2021/22 Premier League season will display Bitci.com logo. In addition to the shirt, LED advertising boards on the football stadium and online platforms will also display—Bitci.com brand.
Expressing his excitement with the partnership, Russell Jones, Wolverhampton Wanderers’ general manager for marketing and commercial growth, said the collaboration would facilitate the club’s ambitious growth mindset and disruptive challenger ethos.
According to him, Wolves is the first Premier League team to partner with Bitci.com to launch a fan token. He further noted that the partnership with Bitci would create a new way for the club to interact with fans in the United Kingdom and overseas.
Wolverhampton Wanderers partnership to increase adoption, exposure of fan tokens
Onur Altan Tan, chief executive officer of Bitci.com, in a statement noted that Wolverhampton Wanderer’s partnership would favour the crypto space. According to him, the Premier League is currently the most followed football league in the world.
He pointed out that with the Premier League in one billion households and over 188 different countries as well as over three billion followers, blockchain and fan tokens would gain more adoption and exposure.
Notably, Bitci.com is a Turkish-based cryptocurrency trading platform that operates on Bitcichain. It focuses on providing firms in multiple sectors for supply chain monitoring, smart contracts, brand tokens, fan tokens and loyalty tokens and payment tokens on blockchain.
Fan tokens space growing exponentially
It is important to note that fan token is growing remarkably fast. Platform like Chiliz and Socios have been facilitating the growth of the space.
Top football team like Barcelona, Manchester City, Paris Saint-Germain, Juventus, Galatasaray, AC Milan, Argentina national team among others now offers fan tokens via the Chiliz Blockchain platform.
Also, other sporting organizations such as Ultimate Fighting Championship (UFC), Aston Martin and Alfa Romeo, NASCAR’s Roush Fenway Racing, among others, released fan tokens.
According to Socios and Chilz CEO Alexandre Dreyfus in 2020, the fan token-focused firm sold more than $30 million of tokens for all of its partners.
