NFTs are the latest digital crypto asset, with some weird and wonderful NFT sales making headlines. While you may not be interested in paying for a digital fraction of a Banksy painting, NFTs have reached the sports world, too!
Socios Fantoken holders will have access to exclusive NFTs from some of the biggest names in sport! NFTs are a fun and unique way to own a little piece of your club, potentially winning some amazing experiences along the way.
NFT stands for “non-fungible token.” An NFT is a special digital asset that can’t be copied, meaning any NFT you own will always be unique. This is different from cryptocurrencies and other cryptoassets such as regular Fan Tokens, where each coin or token is “fungible” or exchangeable with any other of the same type of coin or token. You can sell or trade NFTs if you want to, but many fans enjoy collecting them to keep.
NFTs are digital collectibles that you can potentially use to unlock “money can’t buy” experiences as well as other digital rewards and incentives. This makes them more than just a cool talking point, giving them a real-world use. NFTs use the Ethereum blockchain, so they can be traded on any Ethereum-based NFT marketplace.
The process of creating an NFT (non-fungible token) is known as “minting,” where a digital item is turned into an asset on the blockchain. The NFTs sold through Socios are created by Chiliz, the leading blockchain provider for the sports and entertainment industry worldwide.
Teams have the option to create NFTs to sell through Socios during live matches. For instance, AC Milan launched the first live “in game” NFTs on Socios during their match on 31st October 2021 against rivals AS Roma. When Zlatan Ibrahimovic’s teammates surrounded him to congratulate him on his goal, a photographer captured the moment. The photo was quickly transformed into 100 limited edition NFTs.
NFTs are becoming more popular all the time, with plenty of world-famous football teams getting in on the action. Teams set their own special benefits for NFTs, so getting your hands on NFTs could bring you some amazing footballing experiences as well as letting you own a unique digital collectible.
Here are some of the football teams giving away NFTs today.
In December 2021, to mark the first Ligue 1 Socios Derby, PSG and AS Monaco exchanged Fan Tokens before kickoff. The unique physical Fan Token Award and a (single) digital version of it were then available through Socios’ Fan Rewards. All players with 25 $PSG Fan Tokens were eligible to purchase the award in a reverse auction. Missed out? Get your hands on some $PSG through the Socios.com app today and you’ll be able to take part in the next NFT auction.
In November 2021, Valencia CF became the first Spanish team to offer “in game” NFTs to reward fans on Socios. They minted 100 limited edition NFTs to commemorate a moment from their game with LaLiga rivals Atlético de Madrid.
AC Milan was the first team to offer NFTs through Socios, on 31st October 2021. In a groundbreaking move, they minted 100 limited edition NFTs reflecting goal celebrations from AC Milan’s 2-1 win over Serie A rivals AS Roma. Fans with at least 10 $ACMs and who’d predicted the outcome of the match were eligible for these digital collectibles.
Juventus auctioned its first NFT in June 2021 — a 3D, high-definition image of the 2021/22 home shirt, through NFT Pro. The winner also received a physical copy of the shirt, signed by the whole Juventus team.
European footballing giants Barcelona will soon offer NFTs through Socios. As FC Barcelona President Joan Laporta said, “In recent times there has been a lot of attention to blockchain products and services such as NFTs and metaverse … We should be able to offer digital products to our members, our fans, that will align with the value of the club and generate a very interesting emotional experience.”
NFTs aren’t unique to football. Lots of other sports clubs are using NFTs, including teams from the NBA, UFC, Motorsport, Tennis, Ice Hockey, and American Football. For instance, the Alfa Romeo F1 Team created a one-of-a-kind signed glove as a physical item as well as a virtual NFT.
NBA fans can purchase digital collectibles through NBA Top Shot. This offers NFTs that consist of unique NBA video highlights. The UFC has something very similar called UFC Strike, which involves collecting digital video NFTs of highlights from the Octagon.
Socios, an industry leader in Fan Tokens, is increasing its partnerships with clubs to offer valuable NFTs. Currently, over 1.3 million fans from 167 different countries are using the Socios.com app to engage with their favourite teams and win rewards. Fans have the chance to win or purchase NFTs through the Socios app, often through events such as airdrops during nail-biting live matches.
You can easily view the NFTs you own in the Digital Collectibles section of the app, under your profile. In order to be eligible to win NFTs, you may need a certain number of Fan Tokens for your favourite team. You can purchase Fan Tokens by first buying $CHZ in-app, using your credit or debit card. Then exchange your $CHZ for tokens for your chosen team, such as $AFC Fan Tokens for the Arsenal club.