Popular English football club Manchester City FC is launching its own fan token on major crypto exchange Binance. Dubbed CITY, the token will become available on the platform from November 11th on the Chiliz Chain. Furthermore, CITY also operates on the Binance Smart Chain blockchain platform using the BEP-20 token standard. The Manchester City Fan Token comes after another football club, Portuguese giants Porto FC, launched theirs last week with Binance.
Key Features of the CITY Token
The CITY token will be available on the Binance Launchpool platform (which will go on for 30 days), along with its technical sheet. These include:
- Total supply: 20,000,000 CITY
- Circulating supply: 18.54% of total supply at 3,708,172
- Trading pairs: BTC, BNB, BUSD, and USDT
BNB stakers will receive the largest allocation at 70% of the CITY rewards. Another 20% will go to CHZ stakers, while BUSD stakers will have the remaining 10%.
Regardless of the initial allocation quota, the number of tokens each staker receives depends on a few factors. These include the length of their stake as well as the relative stake size vis-à-vis the entire staking pool. It is worth noting that the Manchester City Fan Token is the 24th project to feature on Binance’s Launchpool.
Benefits for Fans
CITY affords fans of the football club a tokenized share of influence on club decisions. These include:
- Casting votes on polls organized by Manchester City FC
- Getting discounts on official club merchandise
- Access to practical perks like matchday tickets and VIP experiences at the club’s Etihad Stadium
To achieve this, it uses Socios, a platform that provides immersive fan engagement and rewards for sports and entertainment organizations.
👉 Learn more about fan tokens and their benefits
Fan Tokens in Sports: A Growing Trend
Several sporting organizations across the board have launched their own fan tokens in recent times. For example:
- Formula One (F1): Launched tokens for two F1 racing teams Aston Martin and Alfa Romero.
- Argentine national football team: Became the first national team to launch fan tokens.
- Ultimate Fighting Championship (UFC): Launched a limited supply of 20 million fan tokens in June.
Fan tokens and NFTs are two distinct digital asset types on the blockchain. However, both are currently enjoying a surge in popularity. They provide alternative ventures for people who want to venture into the crypto world but would rather not invest in BTC et al.
👉 Discover how fan tokens are revolutionizing sports engagement
FAQ Section
What is the CITY token?
The CITY token is Manchester City FC's fan token, launched on Binance, offering fans a tokenized share of influence on club decisions and various perks.
How can I stake CITY tokens?
You can stake CITY tokens on Binance Launchpool, with BNB stakers receiving 70% of the rewards, CHZ stakers 20%, and BUSD stakers 10%.
What benefits do CITY token holders get?
Benefits include voting rights on club polls, discounts on merchandise, matchday tickets, and VIP experiences at Etihad Stadium.
Which other sports teams have fan tokens?
Teams like Porto FC, Aston Martin, Alfa Romero, and organizations like UFC and the Argentine national football team have launched fan tokens.
Are fan tokens the same as NFTs?
No, fan tokens and NFTs are distinct digital assets, though both are gaining popularity in the blockchain space.
Conclusion
The launch of the Manchester City Fan Token marks another milestone in the growing trend of sports organizations leveraging blockchain technology to engage with their global fan base. With benefits ranging from voting rights to VIP experiences, the CITY token offers a unique way for fans to connect with their favorite club.