CoinMarketCap takes a deep dive into Manchester City Fan Token (CITY), a way for CITY fans to participate in the club’s decisions.
Manchester City Fan Token (CITY) is the latest edition to the rising number of fan tokens in the sports industry. The English football club has launched the CITY fan token in a partnership with Socios.com, an app that is built on the Chiliz (CHZ) blockchain.
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CITY Token Spikes After Cristiano Ronaldo Among Transfer Rumors
The football transfer window of the 2021-2022 season has been a wild one. First, Lionel Messi left his childhood club, Barcelona, in a shock move to Paris-Saint Germain (PSG) football club, and now Ronaldo has joined Manchester United, after being linked heavily to Manchester City for a considerable amount of time.
Who Is Cristiano Ronaldo?
Cristiano Ronaldo is one of the greatest, if not 'the' greatest, players of all time in football history. The former Juventus striker has a net worth of over $500 million as the 36-year old iconic superstar continues to break records in the football world. A recent outing of Ronaldo’s brilliance was seen against Ireland in which Portugal forward scored two goals in the dying minutes of the game and broke the world record for scoring the most goals at the international stage of football.
Judging from the portfolio mentioned above, it can be safely said that Ronaldo is a big deal in the football world, and naturally any news related to him often has a huge impact in the sports industry. The same happened to the CITY token when Cristiano Ronaldo was rumored to be joining Manchester City. The token reached an all-time high price of $27.65 with a 20% increase in the last week of August.
Cristiano Ronaldo, however, chose to join his past club, Manchester United, and since then the CITY token price has come down and currently trading at $21.51 as of Sept. 2, 2021.
How Does Manchester City Fan Token (CITY) Work?
CITY is a fan token that is created by Socios.com. It has created many tokens for a variety of sports including football, UFC, car racing, and others. Fan tokens represent proof of ownership and serve a wide variety of purposes which mainly revolve around influencing decisions of the entity (team) after which the token is named.
Stephan Cieplik, Senior Vice President of Global Partnerships Sales, City Football Group, said:
“We are excited to launch the new Manchester City Fan Token, which will provide another opportunity for our fans all over the world to get even closer to the Club they love. Fans will have access to fantastic competitions and VIP experiences and be able to vote on Club initiatives. Every existing registered Cityzen will also be eligible for a free token so they can access the full range of benefits and rewards.’’
He also said: “We recognize the significant interest in blockchain and the opportunity it provides us to engage further our global fanbase and we are confident that the Manchester City Fan Token will prove a popular addition to our digital line-up. We’ve been extremely impressed with how Socios.com has led the way in this space with other European clubs, and we are confident that we have the right platform to succeed and grow together.”
The Manchester City Fan Token (CITY) works as a governance token that provides the holders the right to vote on club decisions, like deciding on football kit designs, choosing a goal celebration song, or deciding team bus design, and so on. Holders of the CITY tokens can also gain VIP rewards, exclusive discounts, and profit when the token’s price rises from major club decisions or when Manchester City wins a major football tournament.
Manchester City’s Rise to Dominance in the Football World
Manchester City is an English football club that is considered by many as the cream of Premier League Football in England. It has won four Premier League titles so far and finished 10 times in the top four in the past 10 years of the competition.
The club’s destiny was changed when the experienced football manager, Pep Guardiola, took charge in 2016 and since then he has taken the English club to new heights. His style of management is defined as highly creative, hard-working, nimble, and elegant, similar to how he played during his days as a football player. His signing with Manchester City, which came in 2016, proved to be a valuable one for City fans.
The club finished in the top four in the Premier League race, however, the very next year, Manchester City won the Premier League title with the leadership of Guardiola. Many trophies followed after this point and now the club is seen as a giant club not only in England but in the entire world of football.
This huge list of successes is good news for CITY token holders as every major move of the football club will have an impact on the token’s price.
The Vision of CITY Fan Token Creators
Socio.com, which has created the CITY fan token, has a clear vision of providing sports fans with a voice of their own. In its own words:
‘’We believe passion should be recognized and that every fan has the right to make their voice heard, wherever they are in the world. Influence your team, access VIP rewards, exclusive promotions, and join a global community of superfans.’’
Can Manchester City Fan Token (CITY) Follow the Success of Paris Saint-Germain Fan Token (PSG)?
The move of Messi from Barcelona to PSG in 2021 shocked the entire world of football. The six-time Ballon d'Or winner joined PSG in a controversial move that benefited its fan token prices as it broke all-time highs several times throughout the week as the news of the Argentine football’s transfer engulfed social media platforms. The PSG token grew by 300%+ at one point and reached $55.31 in a matter of 24 hours.
The phenomenon of PSG tokens can now be seen as a benchmark for other sports teams who have (or planning to) launched their fan tokens. Any major news linked to the club can increase or decrease the price of a fan token, and like any other cryptocurrency, it has the potential to become an asset that a sports team can control and excel their fan base and earn more revenue in the long run.
The Manchester City Football Club are well known to have the backing of Arab billionaires which explains major signings in the club, such as the recent one of Jack Grealish, who was signed on a six-year deal for 100 million pounds. These major transfer moves can be expected from Manchester City.
Unique Features Of Manchester City Fan Token (CITY)
Decisions on Club Activities
The holders of CITY tokens will be eligible to vote on club decisions, like color of football kits, and team bus designs. Maybe in the future, the tokens may grant the holders power to influence big decisions like player transfers or the appointment of a new manager.
Increase in Global Fan Base
The CITY token serves as an opportunity for every fan in the world to be a part of Manchester City and increase the global fan base to another level.
Free Token for Every CITY Fan
According to Stephan Cieplik, Senior Vice President of Global Partnerships Sales, City Football Group, every Manchester CITY fan is eligible to get a free CITY token.
Manchester City Fan Token (CITY) Tokenomics
The total supply of CITY tokens currently stands at 20,000,000, while the circulating supply is 3,508,140.00 CITY.
Manchester City Fan Token (CITY) Price
Manchester City Fan Token (CITY) is now trading at $21.51, as of Sept. 2, 2021. Its 24-hour trading volume on exchanges is around USD $10,122,233.91.
Manchester City Fan Token (CITY) Price Prediction
As of Sept. 3, 2021, Manchester City Fan Token (CITY) is trading at $21.51. Whether Manchester City Fan Token (CITY) will hit $100 in the near future depends on a lot of factors.
Manchester City is a big football club, not only in England but in the entire world. This is good news for CITY token holders who can expect a surge in price every time a big news announcement is made by Manchester City.
The most prestigious trophy in club football is the Champions League. Teams like Real Madrid, Barcelona, Bayern Munich, Manchester United, Chelsea, and a few others have dominated the tournament for years. However, since Pep Guardiola won the Premier League, Manchester City can also be seen as a fan favorite as it reached the finals last year where Chelsea beat them to lift the trophy. A win this year in the Champions League arena may lift the CITY token to all-time highs.
Fan tokens are on the rise. Socios.com already has 42 live fan tokens and many are scheduled to be announced in the coming months. The CITY token holders can expect a major rise in the interest of fan tokens as the world of sports has started to accept the steep rise of cryptocurrencies.
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