One of the most popular football clubs in the world, Juventus, is reportedly looking into launching its very own cryptocurrency token. According to the press release, the token will be aiming to increase Juventus’s fan base by enabling them to “be heard.”
Juventus Plans to Issue its own Cryptocurrency
As a part of the project, Italian Juventus Football Club will collaborate with Socios.com. Organizations are eyeing the introduction of the new token entitled the “Juventus Official Fan Token.” It will be initially distributed through a “Fan Token Offering (FTO).” The team behind the project states that it plans to use Fan Token to expand its global audience further and allow Juventus supporters from outside of Europe to enjoy a more direct experience.
The upcoming token will be trading on the Socios platform against its native $CHZ token. It will allow Juventus fans to vote on the mobile app, which is also in the pipeline. Thanks to the Juventus platform, fans will have the opportunity to respond to Juventus ballots, thus allowing supporters’ “voice to be heard, and creating an emotional connection between the Club and its fans.”
The Fan Token Offering, which will be held in the form of an ICO is about to be launched in the first quarter of 2019. However, there are no certain details regarding the structure of the ICO or its plans to raise a particular amount of capital.
Juventus’ Co-chief revenue officer and the Head of global partnerships and corporate revenues, Giorgio Ricci, has stated:
“At the club, we are always very careful and pro-active towards innovation and new technologies. Together with Socios.com, we believe we can offer new opportunities to our worldwide fan base to engage in the cutting-edge way with their favorite club.”
Football Clubs Interested in Crypto
The announcement emerges amid a recent spike in the interest for Blockchain technology from the sports teams’ management’s side. Earlier this month, popular French league team Paris Saint-Germain informed the public that it plans to issue its own cryptocurrency. The team stated that it eyes Blockchain as a way to incentivize participation from its supporters from all around the world. Noteworthy, this project is also being developed in the partnership with Socios via a similar Fan Token Offering.
Alexandre Dreyfus, Socios’ CEO and founder has been quoted as saying:
“Our ambition is to build the world’s biggest global football community and marketplace for football fans alongside demonstrating that blockchain and cryptocurrency is the trusted technology of the mainstream.”
Likewise, Brazi’s Avaí Futebol Clube, which is a Series B soccer team, revealed on September 12 that is works on a cryptocurrency as part of its strategy to develop a digital ecosystem for its supporters and raise $20 million.