Question 1

What is AFC, and does it represent equity or a financial interest in Arsenal Football Club?

Accepted Answer

AFC is Arsenal Football Club’s official fan token, issued by Socios Technologies AG in partnership with Arsenal Football Club PLC in August 2021. Its purpose is to let holders take part in specified fan interactions and access qualification-based digital or in-person experiences; it does not represent club shares or a claim on club revenue. Accordingly, holding AFC does not confer voting rights over the governance, corporate, or strategic affairs of Arsenal, the issuer, or their affiliates, and it does not create dividends, other financial returns, or payment commitments. There is no value-protection or compensation mechanism for the token’s value or transferability; whether a particular interaction feature exists depends on the conditions set by the platform and club at that time.

Question 2

How does AFC voting work, and can holders participate in club operating decisions?

Accepted Answer

AFC holders can express preferences in designated official polls through the Socios.com wallet, platform, or access channels; voting weight is proportional to the amount of AFC they hold. Matters available for voting are non-management club-related items, such as fan-interaction choices opened by the platform or club. The process is not one in which holders propose or execute club decisions: the club and platform first decide whether to launch a poll and set its terms; holders who meet the conditions for that activity then participate according to their holding weight, and the result serves that fan interaction. AFC has no DAO governance structure; even when a vote takes place, holders do not obtain voting rights on board, shareholder, or strategic operational matters.

Question 3

Must AFC be spent or burned when it is used, and how are rewards created?

Accepted Answer

AFC functions as a holding qualification for access to specified features, rather than as a means of paying for goods within the platform or transferring value to the club, Socios, or other users. When a holder uses an AFC feature, the tokens remain theirs: they are not burned, spent, transferred, or surrendered for voting, unlocking an experience, or using that feature. Where the platform makes them available, holders may access non-management votes, digital collectibles, signed merchandise, stadium tours, matchday experiences, or meet-and-greets; however, these are not fixed benefits automatically delivered merely by holding the token. Interactions around token features in the Socios app, such as stake & earn, can earn off-chain reward points, which can then be redeemed for prizes or experiences under the applicable rules. The points are a separate record and asset from AFC and should not be treated as new AFC issuance or yield.

Question 4

Who determines AFC’s total supply, initial offering, and later unlocks?

Accepted Answer

AFC has a fixed total supply of 40,000,000 tokens, and the official materials do not provide for an inflationary issuance mechanism. The 2021 public offering comprised 2,000,000 tokens; the remaining non-circulating supply outside the public offering was retained by the issuer, Socios Technologies AG. A fixed total supply does not mean a fixed circulating supply, because when the non-circulating portion enters the market depends on subsequent unlocks. There is no mechanism for a DAO to decide supply through voting. The issuer, in cooperation with the club, decides the time-based unlocking of retained supply and the features that may be offered in the future; the official Fact Sheet does not provide vesting or lock-up details. Therefore, 2,000,000 tokens is an initial public-offering/initial-circulation measure: it cannot be used to infer the actual circulating supply at a given time, nor can an undisclosed release schedule be treated as an established issuance plan.

Question 5

When did AFC become freely transferable, and on which chain and under which standard does it now operate?

Accepted Answer

AFC’s transferability underwent an important change: it was initially minted as an ERC-20 token on Chiliz’s permissioned private sidechain and could not be freely withdrawn from the Socios platform; from 26 October 2021, it could be freely transferred only through venues where it had been listed and was permitted to trade. This means that early ability to use platform features and ability to transfer externally were not the same thing. Current official materials describe AFC as a CAP-20 token on Chiliz Chain. Holding and on-chain transfers require a wallet compatible with Chiliz Chain and compliance with the requirements of the recipient, network, and service provider; CAP-20 is that chain’s token standard, enabling interaction with compatible wallets, decentralized applications, and the chain environment. A token standard provides on-chain compatibility; it does not guarantee that any third-party platform will continue to offer trading, withdrawals, or a particular feature.

Question 6

What does Socios’s 2024 non-custodial wallet change mean for AFC holders?

Accepted Answer

The custody model of Socios’s AFC environment changed in November 2024, when the platform introduced and moved toward a non-custodial wallet model. Non-custodial means users control the crypto assets they hold on Chiliz Chain through that wallet themselves, rather than having them routinely held in custody by the platform. This change does not alter AFC’s total supply, voting limits, or rights inherent in the token; it changes who controls the wallet in the Socios environment. Official materials also state that, after the transition, the residual assets of “inactive users” who have not set up a non-custodial wallet may still be held under custody by Socios Europe Services Limited. Users should first confirm which wallet arrangement applies to their account before deciding how to manage access credentials and assets.

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