[News] Football fans spending millions on club crypto-tokens

Titanic · Dec 10, 2021

https://www.bbc.co.uk/news/technology-59596267

Football clubs have potentially made hundreds of millions of pounds selling controversial crypto "fan tokens".

Analysis commissioned by BBC News estimates more than £262m ($350m) has been spent on the virtual currencies.

Some of the tokens are marketed as offering real-world perks to the buyer.

But critics say these perks are insignificant - one offered the chance to vote for songs to be played in stadiums - and clubs have insufficient protection for supporters.

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BBC News asked every Premier League team and some major European sides about their plans for, and views on, the new trend.

Only one was happy to comment.

A Brighton and Hove Albion spokesman said: "We have not sold these products and have no plans to enter these markets."

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Brok · Dec 10, 2021

https://www.cpfc.org/forums/showthread.php?t=285352

"Thrilled"

McTavish · Dec 10, 2021

The Price of Football podcast on 16th August had a discussion about these. I seem to recall that the general view was to avoid.

McTavish · Dec 10, 2021

The Price of Football podcast on 16th August had a discussion about these. I seem to recall that the general view was to avoid.

Terry Butcher Tribute Act · Dec 10, 2021

Good to hear.

Sent from my SM-G998B using Tapatalk

andy1980 · Dec 10, 2021

Tony Bloom is a mathematician and worked in banking. He will know the pros and cons and if its worth getting involved with. It obviously isn't even if it makes money in the short term.

Tyrone Biggums · Dec 10, 2021

I hold a bunch of Chiliz crypto which is the Socios token.

FatSuperman · Dec 10, 2021

Only one club was prepared to comment...

I think this is quite a good example of BHA trying to consider the fans in all of it's choices - having a focus on the 'customer' as some might say. You can't go far wrong in your decision-making if you are starting out by looking through the customer lens. 'Is this right for our fans, or is this probably bad for our fans but might make us some money'.

I might have blue and white tinted specs on here though.

Da Man Clay · Dec 10, 2021

FatSuperman said:
Only one club was prepared to comment...

I think this is quite a good example of BHA trying to consider the fans in all of it's choices - having a focus on the 'customer' as some might say. You can't go far wrong in your decision-making if you are starting out by looking through the customer lens. 'Is this right for our fans, or is this probably bad for our fans but might make us some money'.

I might have blue and white tinted specs on here though.

There is very little customer focus looking at other initiatives in the last few years so would suggest this is blue and white specs. If they do continue to take off I’d be amazed if we don’t change our mind pretty quickly.

Berty23 · Dec 10, 2021

andy1980 said:
Tony Bloom is a mathematician and worked in banking. He will know the pros and cons and if its worth getting involved with. It obviously isn't even if it makes money in the short term.

Bloom is a maths genius and loves a gamble. I would be absolutely staggered if he has not made tens or probably hundreds of millions through crypto. I have only ever done very little amounts (in total probably put in about 1k) but have taken out far more than that and still have 10k in tokens.

With the rise of gaming and the obvious links with virtual currency I would be amazed if we don’t see more and more of this over the next decade. My kids talk about V bucks etc. it is the next step.

Driver8 · Dec 10, 2021

Exploiting the gullible.

FatSuperman · Dec 10, 2021

Brok said:
https://www.cpfc.org/forums/showthread.php?t=285352

"Thrilled"

To be fair, bar one person that thread has showed the Palace fans responding to be very sensible people, and acting just like decent human beings. I feel incredibly uncomfortable realising they aren't all devils. Going to go and lie down. x

CheeseRolls · Dec 10, 2021

You want people to know you like football, you have some spare cash....

This is the Stone Island of Crypto.

FatSuperman · Dec 10, 2021

Da Man Clay said:
There is very little customer focus looking at other initiatives in the last few years so would suggest this is blue and white specs. If they do continue to take off I’d be amazed if we don’t change our mind pretty quickly.

You're probably right. In my head I defend most of the decisions. Obviously they still need to try to break even - which we don't by a long shot of course - meaning there always needs to be a commercial angle. Every company is trying to keep their customers happy with value for money, whilst turning a profit. Things like not allowing lids into stadiums seems ridiculous, but it's about trying to reduce the damage done when someone throws a bottle full of 'liquid' onto the pitch. I'd be interested to know how many actual incidents we had with this, and how much difference it makes, given a little flip would keep most of the liquid in the receptacle as it whirls toward it's target, lid or no lid

RandyWanger · Dec 10, 2021

Interesting take on this. I won't say who I work for but we're making millions teaming up with clubs, athletes, celebrities, brands etc helping them to navigate this space. It's big business.

Live by the sea · Dec 10, 2021

Berty23 said:
Bloom is a maths genius and loves a gamble. I would be absolutely staggered if he has not made tens or probably hundreds of millions through crypto. I have only ever done very little amounts (in total probably put in about 1k) but have taken out far more than that and still have 10k in tokens.

With the rise of gaming and the obvious links with virtual currency I would be amazed if we don’t see more and more of this over the next decade. My kids talk about V bucks etc. it is the next step.

It’s also unregulated and values can plummet very quickly !

Berty23 · Dec 10, 2021

Live by the sea said:
It’s also unregulated and values can plummet very quickly !

Absolutely. That is why I always take out profit. Even if it all crashed today and became worthless I made 300% profit in about 3 years.

Driver8 · Dec 10, 2021

RandyWanger said:
Interesting take on this. I won't say who I work for but we're making millions teaming up with clubs, athletes, celebrities, brands etc helping them to navigate this space. It's big business.

If you are making millions it’s probably a good reason fans shouldn’t touch it with a barge pole.

KZNSeagull · Dec 10, 2021

Berty23 said:
Bloom is a maths genius and loves a gamble. I would be absolutely staggered if he has not made tens or probably hundreds of millions through crypto. I have only ever done very little amounts (in total probably put in about 1k) but have taken out far more than that and still have 10k in tokens.

With the rise of gaming and the obvious links with virtual currency I would be amazed if we don’t see more and more of this over the next decade. My kids talk about V bucks etc. it is the next step.

Tony Bloom only bets when the odds are in his favour. I would think that Crypto is much too volatile for his tastes and I would be surprised if he went anywhere near it to be honest.

Stat Brother · Dec 10, 2021

Driver8 said:
Exploiting the gullible.

Can I have 2 please.

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[News] Football fans spending millions on club crypto-tokens

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