$CPFC Fan Tokens will launch for sale and redemption on Tuesday February 08th at 12:00 GMT, and here is everything you need to know ahead of the launch.
Please note: $CPFC Fan Tokens are a form of cryptoasset. To acquire fan tokens, you must download the Socios.com app, purchase the cryptocurrency, Chiliz ($CHZ.), and exchange this for $CPFC Fan Tokens.
Although we only promote $CPFC Fan Tokens as a tool to engage with the club, we recognise that a secondary market for trading does exist. As such, please note that (a) the value of cryptoassets is variable and can go down as well as up; (b) cryptoassets are unregulated in the UK; and (c) Capital Gains Tax may be payable on any profits made on the sale of cryptoassets.
The decision to open a cryptoasset exchange account on the Socios.com app and purchase $CHZ and/or $CPFC Fan Tokens requires careful thought and consideration. We advise you to spend only what you can afford and always seek independent financial advice if required. You should not purchase any cryptoassets if you do not fully understand the nature of your purchase and the risks involved. You should carefully consider buying or selling cryptoassets as it entails risks and could result in a complete loss of funds. Fan Tokens are not suitable for children. We recommend that you refer to the Socios app Terms and Conditions and Help Pages for more information (click here: https://www.socios.com/socios-com-application-terms-of-use-092021/).
$CPFC Fan Token Offering (FTO®): The key details
The $CPFC Fan Token Offering (FTO) is the period of time during which a limited number of $CPFC Fan Tokens will be made available for the first time. There will only ever be one $CPFC FTO will only be available at a fixed price during this period (£2 per Fan Token). After the FTO ends, the price will be determined by market demand.
The $CPFC FTO® will take place in three waves, with the amount of Fan Tokens each user can purchase capped at 5 during the first wave, 15 during the second wave and 30 for the third wave.
Please remember Fan Tokens are utility tokens, that means they are to be used to engage with the club and are not to be treated as investment tools. Fans should exercise caution when purchasing any crypto asset.
Wave 1 – Feb 08-10
- Begins: 12:00 GMT
- Duration – 48 Hours
- Cap – 5 Fan Tokens
- Price: £2.
Wave 2 – Feb 10-11th
- Begins: 12:00 GMT
- Duration – 24 Hours
- Cap – 15 Fan Tokens
- Price: £2.
Wave 3 – Feb 11-12th
- Begins: 12:00 GMT
- Duration – 24 Hours
- Cap – 30 Fan Tokens
- Price: £2.
How can I purchase $CPFC Fan Tokens?
To purchase $CPFC Fan Tokens you’ll need to download the Socios.com app. Once you’ve done that, decide how many you want to buy and follow the instructions to acquire $CHZ (the in-app currency of Socios.com) to purchase Fan Tokens.
Note, $CPFC Fan Token purchases will be capped at 5 per user for the first 48 hours, 15 for the subsequent 24 hours and 30 for the final 24 hours of the FTO®.
What are Fan Tokens and why has the club started using them?
Fan Tokens are digital assets – that means they’re assets that can be owned and held, but only exist online.
Owning a $CPFC Fan Token allows fans to access different club-related benefits. It’s a new, complementary way for fans to engage with the club and vote in polls on selected club matters.
As a Season Ticket holder/Member will I receive a Fan Token for free?
Yes. All Season Ticket holders and Members are eligible to redeem one non-tradable $CPFC Fan Token for free. We will be providing details on how to redeem your free $CPFC Fan Token via email in the coming days.
To ensure you receive instructions on how to redeem your Fan Token, please make sure your email is subscribed to Palace emails and you have not opted-out of ‘Partners and sponsors’ in the Palace preference centre, which can be found within your account page, here (https://www.cpfc.co.uk/profile/).
How much will $CPFC Fan Tokens cost?
A single $CPFC Fan Token will be priced at £2 during the FTO®.
But, how many Fan Tokens do I need?
Just one $CPFC Fan Token is all you’ll need to take part in every poll the club runs on Socios.com. Buying more $CPFC Fan Tokens can unlock additional benefits and rewards, but please note, we are capping all $CPFC Fan Tokens to a maximum of 30 per fan.
Rewarding fans is at the heart of Socios.com
Tens of thousands of fans around the world have already been rewarded through Socios.com. Rewards include VIP experiences at games and the chance to meet players and club legends. In fact we’re going to be inviting Fan Token holders to the Socios.com box at Selhurst Park for every single home game during this season (details on next season to follow). Fan Token holders on Socios.com have also benefited from unique digital rewards, including digital collectibles, and even appeared on the LED boards around the stadium via video link during games.
Please note: having a $CPFC Fan Token does not mean a holder has constant or regular access to aforementioned rewards and/or prize draws.
Have your say in a range of club matters
Fans have the opportunity to influence club decisions in a range of binding polls each season, starting with the first poll to name a pitch at the first team training ground after a former player from the last 20 years (this period of time reflects the period that the club’s first team have trained at the current training ground in Beckenham).
To submit a suggestion for the shortlist of players to be voted on, first create an account at socios.com. Then click here and insert your suggestion before 23:59 on Sunday 6 February: bit.ly/CPFC-Legends.
The full poll will launch on Tuesday 8 February.
More than just polls
Socios.com is more than just a voting platform. Over 1.3 million fans from around the world are regularly using it for a reason. Fan Token holders can access club related games, competitions and compete against one another to win reward points.
Additionally, Socios.com is working closely with the club to identify ways in which it can support fans outside of the app as part of its wider soon-to-be-launched Socios Supports initiative. For one of the first initiatives, Socios.com has agreed to hand over its in-game LED board advertising at Selhurst Park to the club’s Disabled Supporters Association for a game this season, likely to be in the coming weeks. This is just the first of many such initiatives the club will be rolling out with Socios.com.
Please note: $CPFC Fan Tokens are a form of cryptoasset. To acquire fan tokens, you must download the Socios.com app, purchase the cryptocurrency, Chiliz ($CHZ.), and exchange this for $CPFC Fan Tokens.
Although we only promote $CPFC Fan Tokens as a tool to engage with the club, we recognise that a secondary market for trading does exist. As such, please note that (a) the value of cryptoassets is variable and can go down as well as up; (b) cryptoassets are unregulated in the UK; and (c) Capital Gains Tax may be payable on any profits made on the sale of cryptoassets.
The decision to open a cryptoasset exchange account on the Socios.com app and purchase $CHZ and/or $CPFC Fan Tokens requires careful thought and consideration. We advise you to spend only what you can afford and always seek independent financial advice if required. You should not purchase any cryptoassets if you do not fully understand the nature of your purchase and the risks involved. You should carefully consider buying or selling cryptoassets as it entails risks and could result in a complete loss of funds. Fan Tokens are not suitable for children. We recommend that you refer to the Socios app Terms and Conditions and Help Pages for more information: https://www.socios.com/socios-com-application-terms-of-use-092021/.
