Reports have surfaced revealing that top football clubs in Europe have bagged extra millions thanks to fan tokens.
Clubs such as Manchester City, Arsenal, Barcelona, and Juventus have reportedly signed up to the socios.com app. It is through this app that they sell and distribute the fan tokens, which fans purchase in exchange for involvement in particular club decisions. Reports indicate that the clubs have earned around $204 million through fan token sales.
However, concerns and criticism have arisen regarding whether or not fans know exactly what they are buying into. Alexandre Dreyfus, founder of socios.com, stated in a tweet, “Innovation requires education, education, education. The most important is being transparent and communicate with parties that don’t understand what we do and where we go in the next few years.”