West Ham United, an English Premier League football team, is looking to use blockchain technology to launch its own digital coin. It will be called the “fan token,” and it’ll be powered by Socios.com. The goal is to enable West Ham’s 40 million fans to vote on club decisions and exclusive access to rewards
Juventus and Paris St. Germaine are already using this model. Plus, Jaguar Land Rover penned a deal with the cryptocurrency platform IOTA stating, “Jaguar Land Rover is testing smart wallet technology that will incentive drivers to earn crypto while driving. It sounds like a commuter’s dream come true. Drivers earn crypto rewards in exchange for sharing data surrounding “useful road [conditions]…such as traffic congestion or potholes.” This highlights how blockchain is becoming more widespread.
West Ham’s fan token will be rolled out in time for the 2019/2020 season and supporters can purchase, collect, and “hunt” for the fan tokens. The more tokens they receive, the more they can influence club decisions. Fans can also use their tokens in exchange for “once-in-a-lifetime experiences.”
Socios.com will issue the fan tokens, which will be tradable against the platform’s native cryptocurrency ChiliZ (CHZ). Binance and Bancor have made significant investments into CHZ. The CEO & Founder of socios.com, Alexandre Dreyfus, explained, “We’re building a strong eco-system of top-tier clubs from the best and most exciting leagues across the world and are very excited to have West Ham United as the first Premier League club to drive the evolution of football fan engagement.”
West Ham’s official announcement stated, “A first-of-its-kind mobile app for football fans, where fans acquire the ability to vote – by buying, earning or hunting for Fan Tokens – on selected club decisions, earn club rewards and compete for once-in-a-lifetime experiences.”
It appears that blockchain adoption is now centred on rewards and customer loyalty boosted by these commercial partnerships.