Sports

Penn State football will be selling cryptocurrency soon

Penn State Nittany Lions On SI · Jul 22, 2026 19:03 · 4 min read

Penn State Football Will Be Selling Cryptocurrency Soon — Penn State Nittany Lions football fans fill Beaver Stadium for the 2025 White Out game vs. the Oregon Ducks. | IMAGN IMAGES via Reuters Connect

The Nittany Lions are part of a new program bringing "fan tokens" to college sports.

Penn State football joins the blockchain this season, as the Nittany Lions are part of a new college rollout selling fan tokens, which are a form of cryptocurrency. Penn State is one of five major colleges that will sell digital assets offering fans access to "exclusive experiences" and "unique benefits," according to a news release announcing the initiative.

Socios, a platform that operates in the growing fan-token economy, will host Penn State in a new program with Michigan State, Maryland, Texas A&M and LSU. According to Socios, those five programs will begin the "scale-out" process that the company wants to expand to 30 colleges over the next year. The initiative represents the U.S. rollout for sales of fan tokens.

Playfly, a sports marketing company that holds Penn State's multimedia rights, partnered with Socios to bring the fan-token deal to these five colleges. Socios partners with professional soccer teams in Europe and South America and also has deals to sell tokens for auto racing, rugby and gaming teams.

“The United States is the most important sports market in the world, and college sports represents one of the most passionate and culturally significant fandoms anywhere,” Alexandre Dreyfus, CEO and founder of the Chiliz blockchain and Socios.com, said in a statement. “These are the first Fan Tokens in U.S. college sports and represent not only a new frontier but also a new iteration of the established asset class.

"LSU, Maryland, Michigan State, Penn State and Texas A&M represent some of the most passionate fan communities in global sports, and Fan Tokens® will provide fans, alumni and supporters everywhere with a new way to connect, engage and be rewarded for their fandom."

What is a fan token?

Fan tokens are digital collectibles that hold some value only with the team selling them. They're a marketing tool that teams use to engage with fans through digital channels.

"Fan Tokens® are utility tokens designed to provide fans with the ability to directly support their schools’ athletic programs while opening the door to new engagement experiences, rewards and access," according to the PlayFly news release. "Through Fan Tokens®, supporters can vote on fan focused decisions, participate in exclusive experiences, unlock unique benefits and connect with their favorite teams in new ways."

What does that mean? Just as people buy digital assets such as crptyo and NFTs (non-fungible tokens), they now can buy sport- and team-specific fan tokens to gain access to certain benefits with those teams. Here's a good explanation from the crypto website CoinMarketCap.

"Unlike NFTs, fan tokens are completely “fungible” or interchangeable. This means that, just like fiat or cash, the tokens can be exchanged for sports club merchandise, VIP experiences and more. Additionally, they play an important role in tightening the club community with another team-branded piece of fandom.

"Fan tokens are cryptocurrencies that aren’t necessarily backed by underlying value principles of Bitcoin or Ethereum. They receive their worth from how much fans value being able to participate in the club and earn unique benefits."

For example, fans can buy tokens that give them access to members-only experiences or team polls. FC Barcelona gave fans who purchased tokens an opportunity to design a captain's armband. The football club Paris Saint-Germain allowed fans to choose motivational messages that appear in the team's locker room.

Penn State hasn't explained how its fan tokens will apply to Nittany Lions football or other its other athletic programs.

How does Penn State benefit from fan tokens?

Penn State is constantly seeking new forms of revenue to fund its $250 million athletics department, payments to athletes and the Beaver Stadium renovation. Athletic Director Pat Kraft said Penn State has guaranteed more than $1 billion in new revenue through various deals with PlayFly, adidas and others. But Penn State is looking for more.

According to the news release, a "meaningful proportion of revenue" generated from token sales will fund the colleges' NIL programs. PlayFly, which plays a significant role in Penn State's NIL initiatives, will administer those funds.

One report suggested that token sales have generated "millions for some organizations, helping finance sports operations and even player signings." Through tokens, sports franchises can monetize global fandom beyond selling tickets to sporting events.

But one concern regarding fan tokens involves understanding. Penn State has a job ahead of it teaching fans about tokens and the blockchain and proving the value of these purchases.

"Together, we’ve built one of the strongest financial foundations in college athletics, securing more than $1 billion in guaranteed future revenue while dramatically increasing philanthropic support for our student-athletes and programs," Kraft wrote in his annual letter to Penn State fans. "Those aren’t simply milestones. They’re investments in championships. They’re investments in people. And they’re investments in the future of Penn State Athletics."

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