Supporter groups for English football clubs have expressed concerns that clubs are erecting economic barriers for fans and carelessly monetizing their engagement.
Lobby organizations have spoken out against the variety of crypto-partnerships pursued by 17 of England’s 20 Premier League clubs.
The majority of partnerships entail the development and selling of fan tokens in exchange for having a say in minor club decisions like the scarf a manager wears at a game or the music played at match day.
Selling fan tokens
Manchester City, Arsenal, Everton, Aston Villa, and Leeds have teamed with Socios to sell fan tokens that must be acquired with Chiliz (CHZ) tokens. Each fan token costs a few pounds to purchase.
The main worry is that it monetizes minor club choices that could otherwise be made through online polls, and that it may limit genuine fan engagement because of financial considerations.
It can also lead to people investing in tokens without a thorough grasp of the economics of tokens, especially their volatility.
The Aston Villa Supporters Trust opposes fan commercialization, believing that it is aimed at attracting new fans in order to generate income.
Following the announcement of their club’s collaboration with Socios, the Leeds United Supporters Trust expressed their displeasure.
Fan token craze slammed
The West Ham United Independent Supporters have stated their support for the club’s contract with Socios ending in 2020.
A recent Liverpool FC website slammed the fan token craze as a way to get new bitcoin investors to join the club.
It went on to say that the token’s volatility implies that it is owned by non-fans, raising doubts about whether it is truly driving fan involvement or just another speculative asset.
The Athletic pointed out that the tokens prevent fans from having a vote in topics in which they have demonstrated a stronger interest, such as transfers and tactics.
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