Fan token

Fan tokens are utility tokens launched mostly by football clubs, along with some Formula 1 teams, esports organisations and national teams, typically through specialised platforms such as Socios.com on the Chiliz blockchain. Holders can vote in polls on things like a goal celebration song or a kit design, earn points, enter draws for tickets and meet players, and some apps add gamified challenges.

For clubs they are a way to monetise a global fan base and generate sponsorship income, which explains why dozens of top European teams have issued them. For fans, they promise a sense of participation that goes beyond buying a shirt.

Fan tokens do not represent shares in the club or any claim on its revenue, and the decisions put to a vote are usually minor. Prices tend to spike around big matches or transfers and then fall, so many buyers have lost money. Regulators and consumer groups have criticised their marketing to young supporters.