Italian Football club Juventus in conjunction with Socios.com, Blockchain-based voting and rewards app on Tuesday announced the launch of the world’s maiden Fan Token Offering (FTO). The purpose is to aid the football giants to make their fans part of some decision-making activities.
With the Juventus Fan Tokens ($JUV) which has a 20,000,000 limited supply, supporters of the club will be able to vote on some decisions made by the club and earn rewards. Interestingly, the rewards can be exchanged for club merchandise and novel experiences.
Socio which uses Chiliz (CHZ) as its native currency, is an entertainment and sports platform. The partnership is the first-ever in the anal of football history where a prominent football club is tokenised on the Blockchain.
Boost For Adoption
Moreover, it is a meaningful mainstream adoption of Cryptocurrency. Football is the most popular sports in the world with over 4 billion fan base.
The Turin based club which is currently at 2nd position at the Serie A has over 423 million supporters around the globe. The move is, therefore, a good omen for Crypto adoption.
Alexander Dreyfus, CEO and Founder of Chiliz and Socio.com, asserted that the $JUV token is an essential development for football as well as Blockchain and crypto penetration. He remarked:
“The tokenisation of Juventus is a seminal moment for football, but it’s also a huge step forward into the mainstream for Blockchain and Cryptocurrency. Through Socios.com, regular football fans are being introduced to cryptocurrencies, as well as a Blockchain platform where they can take part in the club’s decision-making process using digital assets.”
Dreyfus further stated that the goal is to give fans the chance to get closer to the clubs they love. It will likewise allow fans to make their voice heard, creating an effectual new communication channel for the club, allowing them to understand better, appreciate and reward their global fanbase.
Goal Celebration Song
For almost a decade, Juventus fans watching games at the Allianz Stadium have revelled to the tune of Chelsea Dagger. However, from Tuesday, the fans have the chance to choose the song for celebration when the team scores a goal.
The songs the Juve fans can vote on with their $JUV tokens include:
All The Small Things by Blink 182
Song 2 by Blur
Jump Around by House of Pain
Boom by P.O.D.
Dreyfus consequently urged the fans of the 2nd most successful club in Italy to download the Socio.com app and get some $JUV tokens to take part in the decision-making process. The club intends to reveal the winner next year at the Allianz Stadium, whenever the club scores its first goal.
In the forthcoming season, there will be countless occasions for fans to vote on arrangements made by the team. At the moment each Juventus Fan Token is priced at €2.
The CHZ CEO, however, informed hodlers of the token to note that the price is prone to fluctuations based on the current rate of Chiliz price. At press time, CHZ was trading around $0.011391.
Giorgio Ricci, Chief Revenue Officer at Juventus detailed how his outfit is proud to be the first club to be activated by Socios.com on its platform, to enable them to communicate with their fans around the world. “This partnership shows once again how much technological evolution and innovation are two priorities for Juventus, also in the way we relate to and connect with our fan base,” Ricci said.
More FTO In 2020
Furthermore, Socios.com intends to launch more Fan Tokens Offering that will facilitate intercommunication and allow fans to chat among themselves. Another feature in the pipeline is how fans can exchange tokens directly.
The first quarter of 2020 will see Socio.com launching more FTOs for six clubs comprising Atlético Madrid, Galatasaray, Paris Saint-Germain, A.S. Roma, West Ham United among others.