Altcoin News

AS Monaco enter fan token market with $ASM launch

Launching on the Socios platform, Ligue 1 legends AS Monaco are offering fans the chance to back the team and participate in club governance through the $ASM fan token.

Season ticket holders at the iconic Stade Louis II stadium will benefit from the opportunity to claim a free fan token to ensure digital participation in club governance decisions.

With $ASM tokens granting holders privileged voting rights on exciting club decisions, governance is set to play a big role in the token’s future.

Things are kicking off with a governance vote starting tonight on the special patch to be worn on Monaco shorts in the March 20 match against Ligue 1 leviathans Paris Saint-Germain – the vote will end on February 1 with token holders finalising a decision between three proposed designs by artist Nairone Defives.

Paris Saint-Germain pioneered fan tokens on the Socios platform in 2018.

The fan token will go live on the Socios exchange today, at a listed price of €2 per token bought using network native Chiliz (CHZ).

In an effort to ensure fair distribution at launch, the club have decided to release the tokens through a staggered three-stage process, with sales today capped at five tokens per investor, an additional two-hour window with a 15 token cap on January 21, and a final sale window on January 22 capped at 30.

The token will be fully live for public trading January 28, with more governance votes planned soon.

Read more: FC Nantes partner with Golden Goals NFT platform for Tezos launch

Sam Cooling

London-based crypto journalist Sam Cooling studied at the London School of Economics (LSE) before working as a Data Technology Consultant for the Fairtrade Foundation. Coin Rivet combines his passion for technology writing with his zeal for the Decentralised Finance revolution. Sam loves providing daily regulatory and alt coin coverage. Outside of the crypto world Sam loves boxing, and spends his time working with NGOs in Zambia.

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