Currency Economy

Football Club AC Milan to Launch NFTs Soon

Cryptocurrency (Mar 10, 2021 10:30AM ET) Football Club AC Milan to Launch NFTs Soon

Football Club AC Milan to Launch NFTs Soon

  • AC Milan will launch its non-fungible tokens (NFTs) soon on the Socios.com app.
  • Fan Tokens produced $30M for clubs and partners in 2020.
  • Every club that joins Socios.com will create a supply of Fan Tokens.

Football club AC Milan has announced that they will launch their own non-fungible tokens (NFTs) on the Socios.com app.

#NFTs, soon on the https://t.co/82c3pZUbLx App

Follow @socios and @chiliz, prepare your $ACM and get ready #NFT #digitalcollectibles

$CHZ pic.twitter.com/omhFl848lZ

— AC Milan (@acmilan) March 10, 2021

Other names that have created their own NFTs on Socios include Juventus, Paris Saint-Germain, AS Roma, Atlético de Madrid, and more. Aside from football, esports teams have also created NFTs on Socios for their fans.

Last month, AC Milan (ACM) also made a partnership with Chiliz, a tokenized sports exchange. The partnership launched the $ACM Fan Token on Socios as well. In line with this, $ACM Fan Token owners can get a wide range of benefits including VIP rewards & experiences, exclusive sponsor promotions, games, digital collectibles, competitions, etc.

Recently, Göztepe is planning to launch a $GOZ Fan Token on Socios.com. $GOZ Fan Tokens will hugely increase the club’s ability to engage with its supporters. More so, through this launch, Göztepe will become the fourth major Turkish side to launch a Fan Token.

An NFT is a unique digital token created using blockchain technology. It represents a wide range of tangible and intangible items. On the other hand, Socios.com is a blockchain-based fan engagement and rewards platform.

Furthermore, the Socio.com app has got over 500,000 downloads around the world. Added to this, in 2020, Fan Tokens produced $30M for clubs and partners. Many more major clubs are planning to launch Fan Tokens in 2021.

Moreover, every club that joins Socios.com will create a supply of Fan Tokens. However, these are fully fungible crypto assets which give users the right to vote on clubs. More so, the augmented reality feature will allow users to collect a limited supply of tokens for free.

In addition, users can purchase additional Fan Tokens during the Fan Token Offering period for each club. Users can join a pool of supporters when they own fan tokens. Even more, the firm’s partner team is committed to seeking their inputs on certain club matters by running polls on binding and non-binding.

This article first published on coinquora.com

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