Juventus Football Club, one of the most famous football clubs in the world is now launching a crypto token in a move that it says will help give its fan base ‘a voice’ on matters relating to the club.
The Italian club that recently signed one of the most popular football players in the world, Cristiano Ronaldo, has partnered with Socios.com in launching the ‘Juventus Official Fan Token’. During the early stages of its distribution, the token will be let out through a ‘Fan Token Offering’, according to the press release made on Monday.
The token that will be tradable on the Socios platform against $CHZ, the platform’s native token. It will provide an opportunity for the fans to vote over club matters through a developing mobile app, which is set to be released soon. With this platform in place, Juventus fans will have the chance to create a lasting emotional bond with the club.
Fan Token Offering
The exact specifics of the Fan Token Offering (basically a form of ICO) have not been divulged, and it is not clear how much Socios intend to raise. However, it is expected to launch in the first quarter of 2019. Giorgio Ricci, the Co-Chief Revenue Officer and Head of Global Partnerships and Revenue at Juventus was upbeat about the development:
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 cutting-edge way with their favourite club.
Football clubs and blockchain technology
The move by Juventus comes at a time when football clubs are embracing blockchain technology to improve on developing fan interaction. It is therefore no surprise that this comes hot on the heels of Paris Saint-Gemain’s announcement two weeks ago that it was planning to issue its own cryptocurrency in a bid to spur participation from its fans around the globe. In fact, Socios has indicated that it is looking forward to partner with even more football clubs in future.
With this, Socios hopes to create one of the biggest global football communities for football fans, while in the process demonstrating that cryptocurrencies and blockchain technology can be be used by everyone. In the future, this digital token-based fundraising could come in handy in helping small football clubs fundraise, and thus help them have an edge against their counterparts.