Juventus has become the latest soccer team to get into blockchain and Cryptocurrency after announcing the launch of its coin early next year. The defending Italian premier league champion said that the “fan token,” the new altcoin will give its fans voting and polling rights. Socios, the company behind this project said that its partnership with the various football teams will inject $300 million into the sector in the coming few years.
Juventus Joins Paris Saint-Germain In Launching A Cryptocurrency
Juventus has said that it will release its own Cryptocurrency, joining Paris Saint-Germain which made a similar announcement a few weeks ago. “Juventus Official Fan Token” will be launched next year in the first quarter. The defending Italian Serie A champions have said the new altcoin will help in enhancing the connection between the club and its fans around the globe. The club has a huge global fan base of over 60 million, making it among the most popular football club in the world.
Juventus is working with Socios.com in this project. Socios is a company that is using blockchain technology to enhance fan engagement. More details have revealed that the Cryptocurrency will be traded on the Socios platform. Moreover, it will be traded against the platform’s $CHZ coin.
Neither the club nor the blockchain-based company has indicated how much the Fan Token Offering will raise or how it will be structured. Given that this offering is a completely new thing even in the Crypto space, it could be logical to compare it with ICO. The project, just like most ICO projects will more likely be accessible around the world where the innovation is accepted.
Fans Now Have A ‘Voice’
Juventus has many fans in Italy, Europe, and around the world in social media and on the streets too. The current social media network only allows Europe-based fans to have a more direct experience, locking out those from other regions. The introduction of this program will empower the club’s fans even outside Europe.
The coin will give Juventus fans a chance to have a say in the club. A mobile app that will enable the fans to vote will be developed. This will enable the supporters to participate actively when important issues arise. The club added that the new move will enhance the connection between the team and its followers around the world.
Juventus’ co-chief revenue officer Giorgio Ricci hailed the new move saying the club is always supportive of innovation and new technologies. He added that their partnership with Socios.com will give their fans worldwide a chance to contribute to the development of the club.
More Football Clubs Are Joining Cryptocurrency
Recently, more soccer teams in Europe have been working towards integrating blockchain technology and Cryptocurrency in their strategies. UK, France, Brazil, and Italy among the first countries where more teams are turning to the technology. Alexandre Dreyfus, Socios CEO said that partnership between the company and various clubs will help in pumping around $300 million in the sector in the coming years. Onlookers are waiting to see if the technology will help these football teams to achieve their dreams.