- Owners of Valencia’s fan tokens will be able to vote on day-to-day club decisions
- New deal does not match annual €4.8 million that was being paid by Bwin, reports 2Playbook
- Fan tokens have generated more than US$150m in revenue for Socios.com partners in 2021 alone, according to company
Top-flight Spanish soccer side Valencia will promote their own fan token on their playing shirts next season as part of a new partnership with Chiliz, the blockchain provider which owns the Socios.com fan engagement platform.
Under the deal, the La Liga club’s soon-to-be-launched $VCF fan token will adorn the front of the team’s playing shirts, taking the place of online bookmaker Bwin.
The two parties say that Valencia will be the first team in the world to promote their own fan token on the front of their shirt.
The financial terms of the deal were not disclosed, but the 2Playbook website reports that it does not match the annual €4.8 million (US$5.7 million) that was being paid by Bwin.
Fan tokens are collectible digital assets that give owners access to benefits such as voting rights in polls, VIP rewards, exclusive promotions, chat forums, games and competitions.
Via the Socios.com mobile app, owners of the $VCF fan token will be able to influence day-to-day club decisions across a range of polls on matters such as in-stadium designs, celebration anthems, club mottos, player challenges and exclusive shirt designs.
The partnership will also lead to unique experiences for fans, including the opportunity to meet club legends, connect digitally with existing players and play on the pitch at Valencia’s historic Mestalla home.
Alexander Dreyfus, the chief executive of Chiliz and Socios.com, said the shirt sponsorship will “bring incredible visibility to fan tokens and the Socios.com platform”.
He added: “When Valencia take to the pitch with their $VCF fan token proudly on display from the front of their shirt for the first time it will be the most visible milestone yet in our rapid evolution and further confirmation of the increasing influence fan tokens and the Socios.com platform are having across the global sports industry.”
While Valencia are the first club to strike a main shirt deal with Socios.com, they are the platform’s 38th partner overall, joining the likes of Barcelona, Atletico Madrid, Juventus, Paris Saint-Germain, Manchester City and AS Roma.
More recently, Socios.com has been expanding its presence in North America, striking deals with the National Hockey League’s (NHL) New Jersey Devils, the Philadelphia 76ers of the National Basketball Association (NBA) and Nascar team Roush Fenway Racing.
Fan tokens have generated more than US$150 million in revenue for Socios.com partners in 2021 alone, according to the company, which has offices in Madrid, Istanbul, Sao Paulo and Buenos Aires, and is planning to open a new base in North America in the near future.
Valencia CF
