Yesterday it was reported that leading advertising agency and PR firm Havas has partnered with H2O FinTech for a blockchain-based fan engagement solution. The Havas Sports and Entertainment unit hopes to reward sports fans with tokens for social media activity and games participation.
The solution utilizes H2O FinTech’s private blockchain platform. The tech firm provides tokens, e-wallets, and smart contracts for Fan Relationship Management (FRM) initiatives. Havas’s project will be a suite of tools and services, allowing fans, sponsors, and sports or entertainment groups to connect directly.
With blockchain, fan tokens have verifiable ownership and can easily be distributed through smart contracts. As MediaPost reported, the Havas unit said: “Fans can now be rewarded for ‘being a fan’.”
“Their social media engagement and digital actions (games, quizzes, etc.) are granted with rights holders’ branded tokens based on a private blockchain – and not a cryptocurrency – through the free and simple creation of an e-wallet,” the statement continued.
The blockchain-based tokens can be converted into “real consumer goods” such as merchandise, content, and experiences. Havas and H2O FinTech’s project also allows for them to be traded between fans in a secondary marketplace. Though it is unclear whether the firms intend to have swappable tokens of different value or from different brands.
Either way, Havas is one of the largest media firms to adopt a blockchain engagement solution. It also has an ICO PR initiative. Last month, adtech firm Vatom Labs announced a similar program for its beverages client Miller Lite.
In the sports sector, Socios.com provides fan tokens for football clubs including AS Roma, West Ham, and Paris Saint Germain. Its main competitor is Fantastec’s SWAP, which boasts deals with Real Madrid, Arsenal, and Borussia Dortmund.