CoinMarketCap takes a look at the Atlético de Madrid Fan Token, a utility token for fans of the popular Spanish football club, and hosted on the Socios platform.
What Is the Atlético de Madrid Fan Token?
What Is Socios?
Decisions have ranged from what song to play for the team walk-in, choosing the inspirational message before a big game, and picking the design of the official face mask. Former striker Alvaro Morata has also asked holders which teammate he should choose to accompany him on a virtual tour of the stadium.
How Does the Atlético de Madrid Fan Token Work?
The first poll held by the club asked which player should be in charge of running the team’s official Instagram account for a day. Sure, letting a player run the account for only a single day seems like no big deal... until one realizes that the team’s account has a following of more than 9 million strong.
The Socios app has stated that it doesn’t intend to meddle in important business decisions. However, this may seem to render trivial the decisions that fans do get to vote on.
But for fans, the ability to participate in such decisions is a way to get them to engage with their teams more closely. They also get to feel more involved than ever before. They can also trust the voting process because it's all publicly verifiable on the blockchain.
What Are the Atlético de Madrid Fan Token’s Tokenomics?
The total $ATM token supply is 10 million. The $ATM fan token was first made available through an augmented-reality Token Hunt event held in January 2020. For the event, a little over 10% of the token supply was distributed. Participants were also eligible to collect $CHZ tokens for free, and trade them for $ATM tokens before the fan token offering (FTO).
The remaining tokens are held by the club, to be used for marketing and community growth purposes. The club plans to release roughly 1,666,666 tokens every year. Future plans include staking $ATM fan tokens for NFT rewards. NFT rewards may range from rare virtual collectibles to real-world tickets and exclusive events.
The more $ATM fan tokens one holds, the greater the rewards they stand to reap. Every Socios club partner has a degree of autonomy and creativity when it comes to offering rewards to their fans. Many such rewards translate to real-world experiences.
Rewards may include attending in-person events to meet their favorite players, or securing VIP passes to a crucial match. Technically, the sky’s the limit when it comes to the soccer club brainstorming novel ways to incentivize fans to engage with the platform.
Atlético de Madrid Fan Token Price Prediction and Outlook
Soccer has been, and will continue to be, one of the most popular sports in the world. With an avid fan base, the challenge for soccer clubs has always been on how to monetize them further. From the fans’ perspective, greater involvement in their favorite clubs is also a dream come true.
The only real point of contention here is the internationalization of local soccer clubs. Allowing anyone in the world to buy fan tokens and make decisions in local clubs might anger loyal local fans.
However, whether this affects price movement as a whole remains to be seen. Unless local clubs begin severing partnerships with Socios en masse due to fan backlash, prices should continue trending upward.
The $ATM fan token price is inextricably tied to $CHZ. Chiliz has partnerships with dozens of soccer clubs, and with other sports organizations like the NBA, the UFC and more. Thus, $CHZ prices should also continue to climb over the long term.
Atlético de Madrid is one of the most popular soccer clubs in the world. As more fans realize the engagement potential of Socios, they should want to hop onboard to participate as well. And a bigger and more active fanbase should prompt the soccer club to examine what other decisions they can delegate to the fans. For the Atlético de Madrid soccer club and its fans, the future holds great promise, and is set to bring them closer together.