- Juventus aims to enhance global fan engagement with its cryptocurrency.
- Club says the Juventus Official Fan Token will allow fans from across the globe to participate in the decision making processes of the Club.
- Tokens to be issued via a Fan Token Offering (FTO).
Italy’s Juventus football club, one of the biggest soccer teams in the world, has joined forces with the Socios distributed ledger technology (DLT) project to launch own altcoin called the Juventus Official Fan Token, to enhance fan engagement, as first reported by PR Newswire on September 24, 2018.
Juventus Joins the Cryptoassets Bandwagon
Juventus Football Club, a highly reputed Italian soccer team, is leveraging the excellent potentials of blockchain technology to revolutionize the way it engages with its fans.
With over 340 million supporters globally, plus a massive social media following of up to 60 million fans, Juventus is collaborating with Socios.com, a DLT startup that claims to help football clubs achieve digital transformation via blockchain technology, to create its native cryptocurrency called the Juventus Official Fan Token.
The multi-year strategic global partnership will see Socios.com develop a digital currency that would enable Juventus to enhance its global fan engagement strategy and significantly improve the fan experience.
The Juventus Official fan Token Features
According to the press release, fans will be able to trade the token like other cryptocurrencies such as bitcoin and they would also be able to engage with the Club via a mobile voting and polling system.
This way, supporters from all across the globe will be able to share their views and take part in the decision-making activities of Juventus.
Socios.com plans to release the Juventus Official Fan Token through a Fan Token Offering (FTO) in the first quarter of next year.
Though both parties have not disclosed the total number of tokens to be issued during the FTO event next year, Socios has however made it clear that the Juventus Official Fan Token will be exclusively available on Socios.com and will be tradable against its chiliZ ($CHZ) token which is an ERC-20 utility token.
Giorgio Ricci, Co-Chief Revenue Officer, Head of Global Partnerships and Corporate Revenues of Juventus, expressed optimism over the new initiative. He noted that Juventus is always proactive towards new and disruptive technologies like DLT, adding that he has no doubts whatsoever that the Juventus Official Fan Token will offer new opportunities to fans and enable them to “engage in [a] cutting-edge way with their favorite club.”
While the groundbreaking blockchain technology has since started changing the face of global finance, the sports and entertainment ecosystems have also caught the virtual currency fever.
As previously reported by Blockchain Reporter on September 12, 2018, PSG football club announced the move to create its cryptocurrency, in conjunction with Socios.com.