MADRID, SPAIN - MARCH 04: Julian Alvarez of Atletico de Madrid celebrates scoring his team's first ... More goal during the UEFA Champions League 2024/25 Round of 16 first leg Getty Images The recent White House Crypto Summit and Gianni Infantino’s FIFA Coin pitch has put soccer front and centre in the crypto conversation. However a link between crypto and soccer isn’t necessarily anything new. Fan Tokens, official digital assets for elite sports teams, were first created by Chiliz and launched on the Socios.com platform in 2020. Now the biggest digital asset class in sport; Fan Tokens have stood the test of time, certainly in crypto terms. Chiliz has a plethora of the world's biggest clubs on their partner roster, but even then, one in particular has been ahead of the curve in embracing this model. Spanish giant Atlético De Madrid is now marking its fifth year of Fan Tokens. Socios.com is the blockchain platform responsible for the fan token craze in global soccer. Fan tokens are high potential crypto assets with real-world utility unlocking real world experiences and rewards for supporters all around the globe. Atletico de Madrid fans hold up scarves during the UEFA Champions League quarter-final first leg ... More match between Atletico Madrid and Borussia Dortmund Getty Images MORE FOR YOU Apple About To Make Unexpected Free Offer To All iPhone 13 Users Apple Brings Back iPhone 15 Pro And iPhone 15 Pro Max In The U.S. — At Lower Price Today’s NYT Mini Crossword Clues And Answers For Thursday, May 8th Clubs issue digital fan tokens, almost like a small share in a specific part of the club that is built for fan engagement and interaction. Fans can stake their Fan Tokens in the app in exchange for daily Reward Points which can be used to redeem these rewards. Fans can also earn Reward Points by voting on day to day decisions made by the club or predicting results. These digital assets have already demonstrated their real world impact, and credentials as assets that provide genuine utility. To date, roughly 15 million votes have been cast across official team polls and over 33,000 rewards and experiences have been redeemed by Fan Token holders all around the world. Andrea Morando, who is director of partnerships at socios.com, comments that fan tokens can help measure and reward fan loyalty which in turn enables supporters to reap the rewards, by redeeming unique benefits or experiences, like VIP suites for matches or the opportunity to play on the field of their favourite soccer club. Morando says “we have helped to make fan tokens standardized but now it is a commercial priority for clubs as it can provide a revenue stream unavailable within other technologies. It’s the perfect plug-in tool for the club that also holds amazing benefits for the fans.” General view inside the stadium as players of Atletico Madrid and FC Internazionale line up prior to ... More the UEFA Champions League 2023/24 round of 16 UEFA via Getty Images The app transitioned into a decentralised wallet in November last year. The app’s new form gives users full control over their assets and unlocks yet further opportunities for fans. It’s this key element which Andrea feels is crucial for the next phase of Fan Tokens: “Up until now Fan Tokens have been used as a primary means to engage and reward fan bases and they have more than shown the real world impact they can have. However, we have only scratched the surface – through the new Socios.com wallet, we are opening up Fan Tokens to Chiliz’s wider SportFi ecosystem.” “This new opportunity not only gives Fan Token holders access to a host of new platforms, services and experiences, but ultimately, brings them closer to developers and our community to help explore the next generation of innovative use cases for the product.” Antoine Greizmann of Club Atletico de Madrid celebrates with fans after his side scored their teamÕs ... More 1st goal during the La Liga match between Atletico Madrid and Sevilla Getty Images Óscar Mayo, who is the chief operating officer at Atlético de Madrid, tells me exclusively that he is proud to be a part of one of the first clubs to partner with socios.com. “Fan Tokens are a great tool for the fans and club to engage. Fans can feel closer to the club and live exclusive experiences.” Mayo and Atlético de Madrid have been trail-blazers in creating a plug-in, in their official club application, to allow supporters direct access to socios.com and fan tokens on their home platform. Making for more interaction and better access for fans. A model that will surely be copied by many more clubs very soon. “Fan Tokens deliver what they promise” continues Mayo “now fans can even earn rewards like to travel with the team for an away match or have exclusive experiences when the club brings in a new signing.” Spanish display team 'Eagle Patrol' fly over Estadio Wanda Metropolitano prior to start the La Liga ... More match between Club Atletico Madrid and Malaga CF Getty Images Fan Tokens have found a unique and super attractive model for both clubs and fans, not at all distinct from how an airline loyalty scheme might work, as fan token holders can redeem rewards by using points they get for staking and engaging on the platform. “We are always making great strides with Fan tokens at Atlético De Madrid” says Óscar Mayo. “It’s a fantastic trend and it’s a sustainable business model too so we are always looking at ways to further integrate Fan Tokens with our club.” Atlético is one of many partners that socios.com has in the top level of international soccer, but after five years of working together they prove to be providing the perfect example of how a club and its fans can prosper when collaborating together using fan tokens. The proof is in the pudding as now a soccer team with the stature of Atlético De Madrid is willing to implement the fan token technology as a plug-in on their club application. This might be the future for many clubs, and fans, across the globe. Atletico Madrid flag flies outside the stadium while spectators watch the Spanish League football ... More match between Club Atletico de Madrid and Athletic Club Bilbao. AFP via Getty Images Follow me on LinkedIn. Editorial StandardsForbes Accolades