American Sports Gear Up for Fan Token Explosion

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Sports fans in the US may soon have a new way of connecting with their favorite clubs and organizations.

It comes through the news in recent months that fan engagement specialists, Socios, have expanded into the world of sport here on our shores. The company, whose base is in Malta, has made significant moves by first promising to invest $50 million into US sports. They started on that path by tying up a deal with the New Jersey Devils before then moving into the NFL and the MLS, with the New England Patriots and New England Revolution getting onboard.

NBA clubs soon followed suit, with the Detroit Pistons being one of those involved. The fan token expansion went even further penetrating the NHL as the Red Wings joined 12 other franchises partnering with Socios. Initially, the deal will revolve around marketing and advertising, visible in Little Caesars Arena. Still, it may also lead to their other offering known as the fan token coming to Hockeytown.

Over the last couple of years, the company has introduced the tokens with their other partner clubs, the most notable of which being that of the French soccer club, Paris St Germain, who were the first partners of Socios. The fan tokens are digital assets sold to supporters and are unique items branded in the colors and images of the respective organizations. It’s a new way of supporters showing their allegiance digitally, and they’ve proved to be very popular. English Premier League club Everton sold out their 500,000 tokens in just four minutes, and with fans initially paying just $2 per token, it’s a quick return for the club. These tokens are NFTs or non-fungible tokens which have grown in prominence over the past 12 months, and they’re certainly not new to Detroit.

Just before the holiday season, the first NFT pop-up gallery was introduced to Motorcity as AmplifyX. It started the first of their galleries that have made a tangible impact on the world of music. Through the sale of the digital assets, the musicians exhibited their works available via an NFT marketplace utilizing the same blockchain technology as cryptocurrency. The deals included early access to the music and other interactive experiences linked to the artists.

This extra experience could come from the partnership between the Red Wings, the Pistons, and Socios if a similar path is followed with many of their other partner clubs in Europe. Ownership of the fan tokens can also give the purchaser the chance to experience one-off meet and greets with players, help decide what the goal music is when their teams score, and some are even getting the opportunity to play at the home of their heroes. Just imagine what it would be like to be in with a shout of skating in the tracks of Dylan Larkin, Lucas Raymond, or shooting three-pointers like Cade Cunningham and co.

While there hasn’t been official confirmation that the fan token is coming to US sports at the moment, the sheer depth of the partnership between the sports and the fan engagement platform would suggest it’s something that is edging closer than ever before. So pretty soon, we may well be getting hold of a unique little piece of Red Wings memorabilia that we can truly call our own.