AliousLeeds United and Everton face scrutiny over their business practices, particularly their commercial partnerships.
Despite their large, devoted fanbases and significant commercial appeal, both clubs are under fire for their controversial fan token deals.
In 2021, Leeds and Everton partnered with Socios, a blockchain-based platform offering tradable digital tokens for fan engagement.
However, these partnerships have raised concerns among supporter groups, who view them as unregulated and potentially risky investments.
The value of both clubs’ fan tokens has plummeted since their launch. Leeds’ tokens have fallen from £2 to £0.14, while Everton’s have dropped to £0.75.
The combined market value of these tokens has significantly decreased, now standing at approximately £4.4 million.
This trend isn’t unique to Leeds and Everton; other English clubs with similar partnerships have also seen their token values decline below pre-sale prices.
While some experts predict cryptocurrency and Web3 technologies could be lucrative for football clubs, there are calls for responsible implementation that prioritizes fan welfare.
As prominent clubs with substantial followings, Leeds and Everton are well-positioned to capitalize on emerging digital markets.
However, they must balance potential financial gains with ethical considerations and supporter interests.
Alious
