Tottenham Hotspur Joins 80 Teams in Issuing Fan Token ($SPURS) on Chiliz Chain
London, UK, September 28th, 2023, Chainwire
English Premier League club Tottenham Hotspur is to issue its own fan token on Chiliz Chain. The Spurs Fan Token ($SPURS) will provide supporters of the North London club with the opportunity to engage in new ways and to access unique rewards and experiences.
Accessed via Socios.com, the leading fan engagement and rewards platform, the Spurs Fan Token will operate on Chiliz Chain, the Layer 1 SportFi network that recently surpassed two million users. Around 80 major sporting teams already use Chiliz Chain to host their own fan tokens and to connect with their global supporter base. Spurs will become the first Premier League club in two years to follow suit.
Tottenham’s decision to issue the $SPURS token on Chiliz Chain aligns with the club’s existing digital strategy. This includes a partnership with MatchWornShirt whose auctions are authenticated on Chiliz Chain. Holders of the $SPURS token will ultimately be able to participate in onchain voting, while apps that integrate Chiliz Chain will be able to add new use cases, further strengthening network effects.
Developed specifically for the sports industry, Chiliz Chain provides seamless infrastructure for the Spurs Fan Token. It offers security and scalability, with over two million user wallets and 60k+ daily user volume. Since 2018, Chiliz’ blockchain platform has been responsible for handling over $400M in revenue for teams and leagues.
Tottenham Hotspur’s entry into SportFi occurs at a time when Deloitte’s latest Sports Fan Insights report shows that around 40% of fans are familiar with the use of fan tokens in sport, and almost 75% express interest in fan tokens providing chances to win rewards.
Ryan Norys, Commercial Sales Director, Tottenham Hotspur, said: “We’re pleased to be able to provide fans worldwide with a new range of Club-related rewards and experiences. Our Fan Token will build on the many benefits of our existing membership scheme. The partnership is another example of how the Club is working to create additional recurring sources of revenue to reinvest in our football activities.”
Alexandre Dreyfus, CEO of Chiliz & Socios.com, said: “We are delighted to welcome Tottenham Hotspur to the Chiliz ecosystem as they launch their first Fan Token and join more than 80 teams that have launched tokens on the chain. Our mission is to make the Chiliz Chain the largest web 3 sports and entertainment centric ecosystem in the world. As the number of user wallets passes the two million mark we continue to build a community of developers that are delivering new products and services on the chain that can utilise fan tokens and deliver new tools to activate fans for sports properties.”
$SPURS will be made available for $2 each to all fans through a Fan Token Offering (FTO) that will take place on 4 October 2023. This will be followed by listing on major global exchanges, granting access to supporters in strategic markets including Asia.
About Socios.com
Transitioning passive fans into active fans is essential to the future of sport. Our vision is for an extensive network of the world’s leading sporting organizations to achieve this through Fan Tokens on Socios.com. Fan Tokens, collectible, digital assets minted on the Chiliz blockchain, and the Socios.com fan engagement platform enable the world’s biggest sporting properties to plug into a fan influence and fan reward ecosystem. The Socios.com and Fan Token ecosystem features giants of world sport such as FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, S.S.C Napoli, Inter Milan, AC Milan, Arsenal, Atlético Madrid, A.S. Roma and major F1 teams, and continues to grow with more than two million wallets. Many more leading sports and entertainment properties will join the Socios.com platform in the years to come.
About Chiliz.com
Founded in 2018, Chiliz is the global blockchain technology business for the web3 sports and entertainment industry and the creator of Fan Tokens and the Socios.com fan engagement and rewards app. Fan Tokens are fungible, scalable utility tokens that allow sports teams to connect with and reward their global fanbases on Socios.com. The launch of Chiliz Chain, the Layer-1 blockchain for sports, represents the next phase in the Chiliz mission. Chiliz Chain will lead to greater adoption of blockchain tech across sports and entertainment with teams and brands invited to build next-generation products and services, with all fees paid in Chiliz native token CHZ. Chiliz has over 300 employees and regional headquarters in Madrid, London, Istanbul, Malta, Milan, Sao Paulo and Switzerland. For more information visit www.chiliz.com.