Juventus FC, a professional Italian football club in Turin, Piedmont is all set to launch its own fan token with Blockchain Platform Socios.com. The soccer club has announced a multi-year strategic partnership with the blockchain platform Socios.com. The club has won 34 official league titles. On the international stage, the club occupies the 4th position in Europe and the eight in the world for most confederation titles won with eleven trophies.
Juventus FC has now joined the blockchain/cryptocurrency project as part of an inclusive strategy to integrate distributed ledger technology with fans. The club will launch ‘Juventus Official Fan Token’ to its global fan base. Founded with the name of Sport-Club Juventus, initially as an athletics club, it is the second oldest of its kind still active in the country after Genoa’s football section.
The press release said that
With more than 340 million supporters worldwide and a global, digital fan base that exceeds 60 million across social media platforms, the launch of the Juventus Official Fan Token will evolve the Club’s global fan engagement strategy and expand their global audience, in particular, bringing millions of fans that are based outside of Europe closer to the real fan experience.
It further explains that this tradeable Fan Token will allow the Club’s fans across the world to involve by using a mobile voting and polling platform. By using this the Juventus FC will ballot its fans, enabling the supporters’ voice to be heard. This will create an emotional connection between the Club and its fans. Juventus’ fans will have the option to purchase Tokens through an advanced scheme called as a Fan Token Offering (FTO) and Socios.com plan to release the Fan Token as early as Q1 2019.
Just two weeks ago, top French league team Paris Saint-Germain, disclosed plans to launch its own cryptocurrency. The soccer club has also formed a multi-year strategic partnership with the blockchain platform Socios.com. In this, the tokens issued will be listed and available on the platform Socios.com. It will allow fans to join in the life of the club, in the form of votes or online polls. Token holders will also have the advantage of accessing exclusive rewards, content, and experiences. The platform will use ChiliZ tokens, developed by Socios founder Alexandre Dreyfus.
The Juventus FC Official Fan Token will only be accessible through Socios.com and will be tradeable against the platform’s native token, $CHZ.
Socios.com allows football clubs to adopt digital transformation by using blockchain technology. Socios.com is supported by the chiliZ token ($CHZ), an ERC20 utility token on the Ethereum blockchain. The company’s vision is to develop an open, gamified Fan Token economy.
Giorgio Ricci, Co-Chief Revenue Officer, Head of Global Partnerships and Corporate Revenues of Juventus said that
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 we can offer new opportunities to our worldwide fan base to engage in cutting-edge way with their favorite club.
Fan Tokens are particular to a team or a club and are limited, the digital asset that gives access to an encrypted, secure ledger of voting and membership privileges and ownership. The tokenized fan-voting platform utilizes Fan Tokens, which work on a different side chain. The ownership of Fan Tokens can be traded, and their price is driven by the market. The platform is being created to help sports teams increase fan engagement and achieve the necessary investment from fan-monetization.
Alexandre Dreyfus, CEO & Founder of Socios.com said:
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. We have started at the very top, with some of the biggest names in football, and 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.
The PR NewsWire further reported that earlier this year, the Socios.com team had raised more than $66 million in funding, including investment from some of the world’s largest cryptocurrency exchanges (Binance) and leading Asian crypto funds.
According to its website, Socios.com has 50+ teams on-board from football and other sports including esports and cricket. Their ambition is to develop an open, gamified Fan Token economy. They want to create a platform which caters to both hardcore “single team” fans and casual global fans alike.