Watford Football Club Announces Fan Token Trading
Date: 2024-06-05 Author: Oliver Abernathy Categories: BUSINESS
English football club Watford has announced its intention to sell a 10% stake on investment platform Seedrs. The move aims to raise approximately $22.3 million and involves issuing tokens that will be available for trading in the future. This decision represents a significant step towards integrating digital assets into the sports investment space.
Selling shares on Seedrs
Watford plans to conduct the share sale through Seedrs, the European arm of investment platform Republic. This choice underscores the club's commitment to innovation and expanding opportunities for investors. A club statement published on CoinDesk noted that investors participating in this initiative will be able to receive tokens that will begin trading in the future.
Future plans and fan tokens
Watford CEO Scott Duxbury told Cointelegraph that the club plans to offer fans the opportunity to purchase "real property" using fan tokens. This move will not only increase fan engagement, but will also provide fans with unique opportunities to interact with the club.
“We are always looking for ways to help grow Watford to achieve our plans and are proud to be the first major English football club to offer true ownership shares to a wide range of investors, including fans, through digital equity,” Duxbury said.
Financial goals and brand development
Watford plans to raise approximately $22.3 million in funding, which will be used to fund a variety of initiatives to improve the club's performance and brand. The successful implementation of these plans will enable Watford to strengthen its position and improve its competitiveness.
Examples of other clubs
Watford is not the only football club using digital technology to engage with fans and attract investment. Earlier, German football club VfB Stuttgart announced the launch of the digital collectibles platform VfB Collectibles. This example demonstrates the growing interest of sports organizations in the implementation of digital assets and technologies.
Watford's initiative to sell shares and issue fan tokens on investment platform Seedrs is a significant step in the club's development and fan engagement. This move underlines the club's commitment to innovation and willingness to use new financial instruments to achieve its goals.
