English football club Watford now allows fans to own digital equity in the club by selling digital assets worth up to 10%.
One of the most ancient English football organizations, Watford FC, is brimming with anticipation in light of a recent development. The 150-year-old club is venturing into the uncharted domain of digital assets by offering digital equity sales, which account for an estimated 10 percent of its total shares. The club has partnered with Republic, a preeminent investment platform, to streamline selling equity. Consequently, the equity will be accessible on both Republic and Seedrs, the European platform of Republic.
Watford FC perceives its most recent action as a means to grant devoted supporters the opportunity to possess a symbolic representation of the club.
The football club anticipates that the capital acquired through the sale of digital equity will significantly enhance its expansion across all domains. In other words, these funds will be reinvested into the men’s first team via coaching enhancements, player recruitment efforts, and training initiatives.
Additionally, the club is enthusiastic about leveraging digital assets to enhance the reputation of Watford FC. In light of this, the club has recognized the necessity of cultivating a more profound bond with its supporters. As a result, the organization is considering implementing a feature that would permit users to exchange tokens shortly.
Watford FC Offers Fans Digital Ownership in the Context of the Expanding Fan Token Trend
Fans gain “true ownership” of these tokens, according to Scott Duxbury, chairman and CEO of Watford FC. The statement of Duxbury reads in part:
“We are always looking at ways that we can help grow Watford FC to deliver on 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.”
In the interim, Watford FC’s venture into digital ownership is not an isolated choice. It does represent an emerging pattern that is not limited to soccer but permeates the realm of athletics. Globally, clubs are coming to understand the value proposition of digital assets such as tokenized shares and non-fungible tokens (NFTs). These assets have demonstrated the ability to not only increase audience engagement but also facilitate the acquisition of capital.
A living football legend, Cristiano Ronaldo, recently unveiled an NFT collection featuring career highlights. Manchester City also released a limited-edition jersey associated with exclusive NFTs.
Without a doubt, Watford FC’s innovative strategy will set the stage for a future in which digital ownership is the norm in the sports industry. This may initiate a period of fan engagement in which enthusiasts transition from passive observers to actively involved stakeholders.