Manchester City have launched their own digital fan token that will allow supporters around the world access to VIP rewards, club promotions, games as well as augmented reality-enabled features, the Premier League leaders announced on Friday.
City said the $CITY Fan Token, a non-fungible token (NFT) available on fan engagement and rewards mobile app Socios.com and built on the Chiliz blockchain, will also give supporters voting rights in some binding and non-binding club polls.
NFTs are a type of digital signature that allows anyone to verify the authenticity and ownership of an asset. The digital record is saved on blockchain ledgers that can be read by anybody looking to find out the owner of the asset.
Cryptocurrencies driven by blockchain technology have attracted a surge of interest in recent months, as mainstream investors and companies embrace popular digital tokens such as bitcoin.
Barcelona, AC Milan, Juventus and Paris St Germain are among the other major European clubs using fan tokens.