The top-flight Italian Football club, Juventus, has announced that it will launch a crypto token for its fan base in 2019.
According to information on the club’s website, the Serie A giant which boast great football players like Cristiano Ronaldo and Paulo Dybala will partner with Socios.com to develop the token.
Socios is a tokenized sports fan voting platform based in Malta. The startup helps football clubs achieve digital transformation through blockchain technology while the native currency of their blockchain is the chiliz token ($CHZ).
“As one of the biggest and most successful football clubs in the world, I am delighted that Juventus has chosen to work with Socios.com and to seek the rewards that our innovative blockchain technology has to offer.” Said CEO & Founder of Socios.com, Alexandre Dreyfus.
The club’s management has called the new token “Juventus Official Token”.
Inside Juventus’ Crypto Token
Juventus, the most-supported football club in Italy, has over 12 million fans which are over 34 percent of the entire football clubs in Italy. According to research published in September by a research agency, Demos and PI, the club has a total number of 300 million fans worldwide.
The reason behind the token development is to enable the club’s fan worldwide to “be heard.” With the aid of the crypto token, fans can engage in the decision-making process of the club. This is by using their mobile to vote on what they want to see in the club in the future, thereby creating an “emotional connection between the club and its fans”.
Juventus’ fans will have the chance to purchase Tokens through an innovative scheme known as a Fan Token Offering (FTO) and Socios.com aim to release the Fan Token in early 2019.
The Juventus’ crypto token will be tradeable on the Socios platform against its native $CHZ token.
Football Clubs Flocking To Cryptocurrency
Unsurprisingly, this is not the first time a footballing giant will announce plans to adopt virtual currencies for its fan base. Earlier this month, Paris Saint-Germain (France) announced a new partnership with Socios.com to launch a similar crypto token for their fans.
The large fan base of most football clubs and their recent adoption of crypto tokens proves that these currencies have a lot of potential in the mainstream.
Do you think more football giants will adopt cryptocurrencies in the future?
Affiliate: Get a Ledger Nano X for $119 So That Hackers Won't Steal Your Crypto!