What is the Spurs Fan Token?
Tottenham Hotspur is launching a Spurs Fan Token in partnership with Socios.com to provide fans worldwide with access to a unique range of Club-related activities, rewards and experiences. The Club will work closely with Socios.com to provide tailored rewards for Spurs fans, such as Big Screen messages and VIP tickets.
Who is offered a free Spurs Fan Token?
All One Hotspur + Members and Season Ticket Holders - aged 18 and over - will be offered five free Fan Tokens, and One Hotspur/One Hotspur Connect Members offered one free Fan Token once it launches on Wednesday 4 October.
If I am a Season Ticket Holder or One Hotspur Member, how do I claim my free token(s) and how do I utilise them? What happens if I don't use the tokens?
Fans will be sent a voucher code via email on Wednesday 4 October, when the Spurs Fan Token launches, which can then be redeemed within the Socios.com app. The non-transferable free token will provide instant access to Club-related polls, predictors, quizzes and competitions, through which points can be gained to unlock rewards and experiences. There is no obligation to use the gifted fan token.
If I am already a Season Ticket Holder or Member, why do I need a Fan Token to access additional benefits?
Season Ticket Holders and One Hotspur Members will continue to gain access to the wide range of benefits included within their membership - including our One Hotspur Moments programme. The Spurs Fan Token represents an additional form of engagement and we're offering all our Members and Season Ticket Holders free Fan Tokens at launch.
What is required for me to be able to participate in polls? Does every token holder have only one vote or do those who have more tokens have more votes?
Anyone with a fan token is entitled to vote in polls. The maximum amount of votes any token holders can have in a poll is 5, which aligns with the number of free fan tokens offered to Season Ticket Holders and One Hotspur + Members.
If I am not a Season Ticket Holder or Member, how can I obtain a Spurs Fan Token?
Fan Tokens will become available to non-Members for an initial price of $2 (approximately £1.65) each from Wednesday 4 October. Fan Tokens can be purchased using Chiliz - a cryptoasset on the Chiliz blockchain. As Socios.com is a global app with users all around the world, Chiliz provides one single value and measurement across multiple currencies.
When will Spurs Fan Tokens be available to purchase until?
Spurs Fan Tokens will initially be made available to purchase in three waves, commencing from 12pm BST on Wednesday 4 October and running until Friday 6 October at 9pm when the initial $2 offer closes (unless sold out prior to that). After this time, Spurs Fan Tokens will become available to purchase on the wider marketplace within 30 days of the offer closing.
If I am a Member of Season Ticket Holder and have a gifted Token, will I still be able to use this after Friday 6 October?
Yes, gifted Fan Tokens can be redeemed by Members and Season Ticket Holders at any time.
Is there a limit to the amount of Fan Tokens I can purchase?
Yes - it will not be possible to purchase further Fan Tokens once the value of those you have accumulated reaches a maximum limit of £950?
Do I need Chiliz to utilise my free token?
Use of free Fan Tokens does not involve using Chiliz. Chiliz would only be required for the purchase of additional Fan Tokens. There is no financial commitment on the Chiliz blockchain with gifted tokens. If you sell your Fan Token on the platform, you will be paid in Chiliz, although free tokens cannot be sold or transferred.
Will the cost of tokens always remain at $2 each or could the value of them go up or down depending on the crypto market?
Although the market will not have an impact on the initial $2 cost of a Spurs Fan Token during the initial launch period, the cost of future tokens, including those that are purchased second-hand, may vary.
Can I sell or trade my fan token?
Fan Tokens are not an investment product, they are a utility asset - their true value lies in the real-life experiences they provide to fans, not in the perceived future value. Gifted fan tokens are non-transferable and are only to be used to redeem Spurs-related rewards and experiences. However, if you purchase a Spurs fan token for $2, this can be traded at market price.
What protections are in place for those who purchase a fan token given the volatility of the crypto market?
From Sunday 8 October, 2023, the promotion of all crypto assets in the UK will be regulated by the Financial Conduct Authority rules and require the following wording: Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more.
What is the environmental impact of the blockchain?
Fan Token products are not involved in 'mining', where a vast amount of energy is used to make new tokens and process transactions. Most transactions, including the purchase of Fan Tokens, now happen on an updated blockchain, 'Chiliz Chain 2.0', which reduces energy consumption during the process.
What is Socios.com?
Socios.com is a rewards and engagement platform that has partnerships with some of the biggest sports teams in the world across football, tennis, rugby union and motor racing. Since it launched in football over four years ago, more and more new benefits have been regularly added for Fan Token holders - more than two million fans from 167 countries are using the Socios.com app to connect with, and be rewarded by, their favourite clubs.
How can I find out more about Fan Tokens generally?
To find out more about Fan Tokens, visit the dedicated Fan Token FAQ page on Socios.com: Fan Tokens - Socios.
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