Cristiano Ronaldo sparks interest in Manchester City's fan token

Thu 26 Aug 2021 ▪ 12h37 ▪ 2 min read — by Siobhan Jones

Due to the hype surrounding Cristiano Ronaldo’s intention to move to Manchester City football club, the latter’s fan token is setting new all-time highs.

Planning transfer of the legendary footballer

Juventus forward Cristiano Ronaldo is planning a transfer to Manchester City, but a stumbling block in the deal is Manchester’s disagreement on the transfer fee. The club doesn’t intend to pay €25 million (~£21 million) demanded by Juventus.

According to Nairametrics, even though there are some difficulties during the negotiations, the legendary footballer is still interested in signing a contract with Manchester City. Against this backdrop, the football club’s fan token has reached an all-time high price of $27.65. The asset has gained more than 20% in one week.

Manchester City’s fan tokens have stirred up the entire sports industry. Europe’s leading football clubs are actively embracing blockchain technology, helped by Chiliz (CHZ), a blockchain platform for issuing sports fan tokens. The company is already working with UFC and football clubs such as Barcelona, Manchester City, AC Milan and others.

Thus, the rise of Manchester City’s token has prompted other well-known clubs to launch their own fan tokens. The trend is leading to further digitalisation of clubs’ assets, which could be a new trend in the sports industry.

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Siobhan Jones

Hi everyone, thanks for reading my article! Join me on my journey to crypto enlightenment, we can always learn something new from each other – no one person has all the knowledge in the world.

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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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