The Tottenham Hotspur Supporters’ Trust have said that they are concerned about the club’s commercial partnership with blockchain-based fan engagement platform, Socios.
There has been quite a bit of controversy surrounding Socios, who already have deals with five other Premier League clubs – Crystal Palace, Arsenal, Aston Villa, Everton and Manchester City (The Athletic).
They issue tokens based on the blockchain, which are marketed to supporters as an opportunity for ‘fan engagement’ through the Socios app. However, the tokens have often crashed in value, leading to many people losing their money.
Tottenham Supporter’s Trust are not happy
Spurs announced on Thursday they have agreed a multi-year deal with the platform, which would see members and adult season-ticket holders offered fan tokens to provide supporters worldwide with access to a ‘unique range of club-related activities, rewards and experiences’.
Reacting to the announcement, THST have now said that they are ‘deeply concerned’ and disappointed that the club did not consult with them first.
They stated that this move encourages fans to enter a cryptocurrency ecosystem which many have little knowledge of and allows Socios to monetise fandom.
The Trust also revealed that they have asked the club to confirm that supporters’ data will not be shared with any third party without their consent.
Read THST’s full message by clicking here.
Spurs Web Opinion
It is quite telling that Tottenham did not officially announce this partnership on social media. That suggests that they did expect a bit of a backlash but, quite inexplicably, they still decided to go ahead with this partnership.