English professional football team Crawley Town FC have followed up on a community vote by fans and Non-Fungible Token (NFT) holders who were recently given a say in the type of player the team should sign next..
The vote, which took place on June 15 and was the first team decision open to fans, took place for verified NFT holders via a temporary Discord channel.. It was also voted on by nearly 1,000 ticket holders.
Speaking to the Daily Mail on Thursday, Crawley Town co-owner and former ESPN betting analyst, Preston Johnson highlighted the importance of being able to offer fans a stake in the club through NFTs:
“Many NFT projects are nothing more than speculation with no tangible backbone, no real story. Have a football club to be proud of every week? That’s a backbone that people stick to.”
“If we are able to bring that to this crypto audience, especially if we are able to achieve promotion and move up the ranks in the English football league, then it will be an even bigger story that people all over the world can be a part of.” “, he added.
Following the vote, Crawley Town announced last week the signing of midfielder Jayden Davis on a free transfer, after the 20-year-old successfully completed a trial with the club.
Crawley Town play in League Two, which, for those not well versed in English football, is confusingly the fourth tier of the English professional league structure. The team was acquired by US cryptocurrency and Web3 company WAGMI United -We’re All Gonna Make It- for an estimated $20 million in April..
The company, founded by Johnson and derivatives trader Eben Smith, has a long-term goal of taking Crawley Town to join the likes of Liverpool FC and Manchester City in the English Premier League (EPL).England’s top flight.
WAGMI United is also owned by more than 30 investorsincluding big names like businessman Gary Vaynerchuck and Philadelphia 76ers president of basketball operations Darly Moery.
In June, WAGMI United released alternative Crawley Town team shirts that could only be purchased through their NFTs. The tokens also offer key hodler benefits, such as the ability to vote on things like player transfers, along with free Adidas merchandise and exclusive physical and virtual events..
adidas is excited to announce our partnership with @WAGMIUnited to become the official kit supplier for @crawleytown.
adidas supports WAGMI’s vision of creating possibilities for football fans globally to connect, create and belong through innovation.⚽ pic.twitter.com/awYlcBP2fC
— adidas Football (@adidasfootball) June 27, 2022
Adidas is pleased to announce our partnership with @WAGMIUnited to become the official kit supplier for @crawleytown. Adidas supports WAGMI’s vision of creating possibilities for soccer fans around the world to connect, create and belong through innovation.⚽ pic.twitter.com/awYlcBP2fC
WAGMI United initially released 10,000 NFTs, and according to the firm’s website, there are 1,933 left that can be minted for 0.35 Ether (ETH), worth about $600. at the time of writing this article.
Other companies, such as Socios, have developed their own way of engaging fans through licensed fan tokens from associated pro teams.. The company offers supporter token holders benefits such as VIP events, meet and greets, collectibles and Socio products, but, in particular, it does not offer fans any meaningful voting rights over their beloved teams..
It is also known that Partner token prices are highly volatile and speculative, which has led to strong criticism from many football fans who have raised concerns about people losing money while monetizing their hobby.
Tokens as a concept are terrible.
Re: crypto and football clubs, it’s a bit like keeping up with the Jonses.
Everyone else is doing so we have to do it, but it’s unregulated and rife for exploitation by those who see it as an opportunity.
Ultimately, fans lose out.
— arseblog (@arseblog) June 28, 2022
Tokens as a concept are terrible. As for cryptocurrencies and football clubs, it’s a bit like keeping up with the Jonses. Everybody does it, so we have to do it, but it’s unregulated and open to exploitation by those who see it as an opportunity. Ultimately, the fans lose out.
Organized groups like Football Supporters Europe have also said they are “dismayed” by the decision of European football’s governing body, UEFA, to sign a three-year partnership with Socios in February.citing these reasons.
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