The London Football Exchange (LFE) is planning on launching a new cryptocurrency in a move designed to drive fan engagement and present new ways for supporters to access events and match tickets.

On its website, the LFE says it is introducing a “new way for fans to participate in the football experience that goes beyond the football field, including special events that can only be purchased through the LFE with our tokens”.

The group plans on engaging football clubs, who will in turn provide unique experiences along with the chance for supporters to become fractional owners of their favourite team.

The Forbes business news website reports that the LFE will use networks such as Ripple, Stellar, Bitcoin, Ethereum and Ripple to support its product.

The service would operate a loyalty-based system whereby fans can earn and redeem tokens, points and offers. It would also provide exclusive LFE player, club and venue access and allow fans to pay everywhere with flat currencies and LFE.

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