The current Serie A champions just recently unveiled cryptocurrency token for fans. As per the data published on Juventus Football Club’s official website, fans can participate in decision-making by making use its token which will let them enjoy an emotional connection with the club.
The Old Lady announces a partnership with Socios.com
On Tuesday, September 25th, Arguably Italy’s biggest club in recent times Juventus, announced that it has partnered with Socios.com, a blockchain-based sports fan platform.
In the announcement, the Italian club introduced the Juventus Official Fan Token and the signing of a multi-year strategic global contract with Socios.com.
Through the launch of the Juventus Official Fan Token, The old lady aims to attract nearly 340 million global fans and its already existing fan-base of nearly 60 million.
The Club believes that through the token it can connect fans all over the globe and also allow them to have a say in some of the club’s decisions. These tokens can be used by Juventus fans to take part in mobile voting and polling platform. Thus creating a strong bond between Juventus and its supporters.
Co-Chief Revenue Officer, Head of Global Partnerships and Corporate Revenues of Juventus, Giorgio Ricci, said in a statement of Juventus’s website:
Juventus is glad to welcome Socios.com to our partners. At the Club, we are always very careful and pro-active towards innovation and new technologies. Together with Socios.com, we believe that we can offer new opportunities to our worldwide fan base to engage in a cutting-edge way with their favorite club.
Even Alexandre Dreyfus, the CEO, and Founder of Socios.com, gave a comment by saying that the partnership between his company and the Serie A club is really exciting. Dreyfus also mentioned that the club is all set to enjoy the benefits that the club offers.
The token which is called the Fan Token Offering (FTO) will allow the club’s fans to receive tokens when it will be made available. i.e. in the first quarter of 2019, as per reports.
Notably, the token will be accessible only through the blockchain platform and traded against $CHZ, that is the native token of the platform.
Cryptocurrency Adoption in Sports
No longer is cryptocurrency just an idea for major sports clubs as in recent times major developments have taken place. Back In August Rimini FC, an Italian lower division soccer team, Rimini FC became the first club to be purchased in return for virtual currency.
Other than Italian soccer clubs like Rimini and Juventus, clubs in the English Premier league have also teased with the idea of digital currency, Back in August, seven major clubs like Tottenham Hotspur, Leicester City, Newcastle United conducted trials for the cryptocurrency. Also not long ago Cardiff City and Newcastle United had revealed plans of issuing an ICO for getting more funds.
Notably, football is not the only sports that have been welcoming to the idea of cryptocurrencies as other sports franchises have also shown a willingness of getting involved. Not long ago Bitmain, a major Bitcoin mining company in China became the primary sponsor for the NBA team, Houston Rockets