Characterized as the first blockchain-powered rewards program in college sports history, the Token Club at Stephen A. Austin State University offers digital tokens to participants for purchasing tickets and attending sporting events, with the chance to win prizes.
As reported by The Pine Log, a blockchain is a system in which a record of transactions is made using cryptocurrency in a peer-to-peer network.
"Part of our mission is to promote innovation and collaboration within our community as it relates to athletics," SFA soccer coach Wally Crittenden told the paper. "As such, we created a rewards token that is unlike any other in the country, not only in being housed on the blockchain but also in its user utility. You can earn rewards for attendance at events or buy rewards if there is a benefit you would like to redeem tokens for but don’t have enough. You can even send tokens to your friends to help them out as easily as you send a text."
Potential perks include discounts on SFA merchandise, as well as benefits which include members-only tailgating, seating and discounts on tickets and merchandise. In addition, the Lumberjack Sports Institute division of the SFA athletic department will be introducing to the program vendors that offer their own items. Redeemable merchandise will be announced at a later date.
"Vendors are very excited about including this in their sponsor packages," said Crittenden, who is heading the rewards program. "We will be working with our rights partner to activate those sponsors by mid- summer, so everything is in place for the official fall launch."
A golden token good for exclusive perks will be sent to participants at random.
In order to send and receive tokens, members need to download and create their own TronWallet. According to The Pine Log, the athletic department partnered with this program due to its low fees, user security and experience. Creating and using TronWallet is free and safe for users, and it will remain as the official wallet of the club after the official fall launch.