Deloitte fan report reveals growing Fan Token® interest among younger generations
- 75% of Gen Z and 72% of Millennial sports fans say they would likely purchase a Fan Token® if they were given a chance to win a reward such as premium seats at a sporting event.
Gen Z and Millennial sports fans are gradually embracing blockchain-backed assets. As a recent Deloitte report shows, Web3 technology is proving its potential to support the next generation of fan engagement products, with younger sports fans increasingly demanding new tools to interact with their teams and the opportunity to connect with club communities in a more active way.
Interest in next-gen fan engagement products is rising among younger sports fans with around 40% of Gen Z and Millennial sports fans saying they were very, or somewhat, familiar with the use of Fan Tokens in sport, and almost 75% expressing interest in Fan Tokens providing chances to win valuable rewards.
Carried out by Deloitte’s Technology, Media & Telecommunications Practice, the new survey provides insight into the attitudes and behaviours of sports fans and assesses the degree to which fans are embracing new technology to engage with sport.
Fan Tokens transforming fan experiences
At Socios.com, the world’s biggest fan engagement and rewards platform, we’re driving sports fans from ‘traditional’ fan engagement channels by creating new digital communities where they can actively engage with their teams and be recognised and rewarded for their passion.
We’re achieving this through Fan Tokens, digital assets that have enabled us to build a global community of 2M+ wallets across 160+ countries. Minted (created) on Chiliz Blockchain, Fan Tokens enable fans to access engagement opportunities, not commonly available on Web2 platforms, on Socios.com.
- Fan Tokens allow fans to take a stake in their community and add value to their team. They can do this by voting in official team polls on Socios.com, but they can also share their passion in other ways, playing games, competing against other fans, checking in and showing their support for their team wherever they are in the world.
- Fan Tokens have the power to change the game when it comes to fan engagement because they enable recognisable, trackable interactions between fans and their teams.
- When a Fan Token holder participates in an engagement feature on Socios.com, it generates loyalty points which are attributed to unique holder wallets/ID in the app. These loyalty points allow fans to gain rewards, exclusive benefits and special access to their teams.
Thanks to Fan Tokens, fans, who previously had little or no recognition from their favourite teams, can have their interaction quantified and be rewarded for it.
Our growing community of fans from around the world are benefiting from this innovative technology, engaging with their teams in new ways and gaining access to a broad range of rewards and experiences, including VIP tickets to matches, behind-the-scenes access, and real life and digital collectibles.
Many fans worldwide have already embraced the innovative technology offered by Socios.com, which has significantly enhanced their fan experience by providing unprecedented opportunities. These exciting opportunities include unique experiences, such as playing a match alongside a club legend in their team’s home stadium, acting as an official announcer during a game, and even having the honour of announcing the starting line-up.
The thrilling experiences have not been limited to on-field activities. Off the field, fans have participated in special events such as presenting the new official team kit and being an integral part of the launch marketing campaign. The platform’s ability to bring fans closer to their beloved teams and players has resonated globally, making Socios.com a game-changer in the world of fan engagement and sports interaction.
We’re on a mission to deliver exactly what the sports fans of today are looking for, adding more utility to Fan Tokens and creating new ways for fans to engage with their teams and be rewarded.
And, as the Deloitte report shows, our product is evolving in alignment with the growing appetite among sports fans for a closer, more rewarding relationship with their teams.
- 60% of sports fans (inc. 75% Gen Z and Millennials) say that they would likely purchase a Fan Token if they were given the chance to win a reward such as premium seats at a sporting event.
Overall enthusiasm from fans (by age-group) when offered to purchase a Fan Token if a specific benefit were included can be seen below:
Fan Tokens to facilitate next-gen fan engagement
The latest Deloitte survey backs up the findings of this year’s Fan Relationship Index Report which provided evidence of the growing appetite for new digital membership schemes among sports fans.
The FRI report showed that in every market there is at least a bedrock of interest in Fan Tokens, rising from 45% of British fans to 67% of Brazilian fans. Analysis also showed that, similarly to the Deloitte report, fans are expressing interest in loyalty schemes which provide utility with more than two-thirds of NBA fans showing interest in membership programmes for a soccer club that offered them rewards like discounts and the ability to earn points for other purposes.
Fan Tokens are proving to be key facilitators for this new generation of membership scheme, for which, according to the FRI report, football fans are willing to pay up to 25 euros per month. We can deliver this through Fan Tokens for much less.
While Web2 created a base for fans to create and interact with content largely through centralised intermediaries, Web3 provides users with a structure allowing them to interact directly with their teams, while also giving clubs the chance to directly own the relationship with their fan bases.
Traditional fan engagement channels, such as social media and club membership programmes are primarily based on one way communication, with the club sharing updates, news and content and fans consuming it.
Fan Tokens, on the other hand, allow fans and teams to engage in two way communication, with fans able to make their voice heard in their community, voting in polls and interacting directly with the team and other fans in games and engagement features on the Socios.com app and gaining recognition and rewards for doing so.
Fans benefit through a closer connection to their club, and clubs gain valuable insights into fan preferences that can inform longer-term strategic decisions. For instance, a club might have millions of followers on social media, but it’s almost impossible to understand what drives that following. Fan Tokens give clubs the chance to own the relationship with their fans and learn what drives them.
At Socios.com, we’re encouraged by Deloitte’s findings, which certainly correspond with what we’re seeing on the app, with more than 50% of our user-base now composed of younger users (aged 18–35). We’re enthused by the growth of interest in our sector and look forward to providing the most compelling and effective solution for millions more fans looking to take their fan engagement experience to new heights in the years to come.