Arsenal’s Socios Fan Tokens explained for Gooners

Arsenal’s Socios Fan Token: What is it?

Fan tokens are growing in popularity across many different sports teams, and this includes top-flight teams such as Arsenal. What are fan tokens, and how are they changing the relationship between the average fan and their clubs? Let’s take a closer look at some of the things people will need to know.

What are Fan Tokens?

Arsenal’s fan tokens have been developed with Socios. They are digital assets that are created and exist on a blockchain, similar to cryptocurrencies. A subscription is not needed to own tokens – instead you just need to purchase them once.

These digital assets can then be used as part of a digital service that clubs and sports organisations like Arsenal offers their players. Users will be able to spend their tokens on different items or decisions as they choose. Anything that they nominate or vote on using the tokens can then be put into practice around the club. This can be as in-depth or as simple a decision as the club wants to make it, but gives them the chance to be closer to their players if they so choose.

Why Use the Blockchain?

One of the key factors of these digital assets that must be considered is the use of the blockchain. This is the ledger system used for cryptocurrencies and is now an integral element in many industries. For example, it is frequently used at online casinos as an alternative method of deposit that is seen as private, safe and secure.

In the casino industry, safety and security are absolute musts. The blockchain is one system that enables both. Its accuracy makes it an attractive choice for many industries beyond the casino sector. It is likely that we will see many places adopt something on the blockchain in the future, as we have seen being done with the fan tokens.

What Does This Mean for Arsenal Fans?

The fan token system offers Arsenal players the perfect chance to get a little closer to their club. The precise terms of what Arsenal fans can get through these tokens will be decided by the club themselves. Will you get a say in the latest transfer? No, probably not.

Will you get to give your opinion for important decisions such as kit design for the upcoming season, or what the captain’s armband should look like? Yes, this is more in line with the decisions that fans will be able to make, along with the chance for interesting matchday experiences and more.

Any Arsenal superfan who wants to feel more involved with the club could definitely consider looking into what these fan tokens could offer. If you want to get some, they are there. Should you want to pass them over, you can still support the team in your own way. As digital assets continue to grow in popularity and become more mainstream, we are likely to see more deals for organisations and companies that we do not traditionally associate with things like cryptocurrency and the blockchain.

 

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