Italian Football Club Juventus Introduces Fan Token In Partnership With Socios.com

Italian football club Juventus has announced it would be introducing a Fan Token Offering, just two weeks after top French football team Paris Saint-Germain announced its intentions to do the same.

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Italian football club Juventus has announced it would be introducing a Fan Token Offering, just two weeks after top French football team Paris Saint-Germain announced its intentions to do the same.

Juventus to launch its Fan Token Offering (FTO)

On September 24, Juventus, the biggest team in Italy’s football league announced that it would be launching its own cryptocurrency via a Fan Token Offering (FTO).

The announcement is similar to the one made by Paris Saint-Germain two weeks ago and is a product of a partnership with the same blockchain startup, Socios.com, with a launch date intended for early next year.

“Juventus Official Fan Token” for the fans

The Italian football club has a fan base over 300 million, which makes it the largest football club in Italy, and the second largest in the world.

Juventus has announced that its partnership with Socios.com is part of its plan to tap into and develop the strength of its international fan base.

The football club has announced that it wants to foster fan engagement, with a particular focus on the millions of Juventus fans based outside of Europe.

Juventus intends to create an intimate fan experience for their international fans.

Bearing much resemblance to the Fan Token of France’s Saint-Germain which was announced earlier this month, Juventus claims its FTO would be used as a tradeable asset principally for fan voting and polling.

“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 a cutting-edge way with their favorite club.”

When the Juventus Official Fan Token is launched next year, it will be tradable against the native token of Socios.com, the $CHZ token, which will be exclusively available from the blockchain startup.

The Fan Tokens will grant its holders access to an exclusive mobile voting and polling platform to make their voices heard, which, according to the football club, will improve the connection between the club and its fans.

On announcing its FTO, PSG stated that its tokens will give supporters of the football club the ability to choose things like summer tours, line-ups for charity matches, jersey color, and stadium music among others, through voting.

The details of the Juventus fan token have not been completely revealed yet, but since the source of the token is the same it could mean that the Juventus Fan Token would bear some similarities.

Growing involvement of sports organizations in the crypto industry

The sports industry is beginning to embrace cryptocurrencies at a steady rate. There has been remarkable involvement of the industry in cryptocurrencies over the last couple of months.

Cryptocurrencies and the underlying blockchain technology have found use cases in football, basketball, cricket, bobsleigh, racing among others.

Alexandre Dreyfus, the founder and CEO of Socios, believes that the fan token projects act as a good start, signaling the entry of football clubs around the world into the cryptocurrency market.

Alexandre Dreyfus has always been optimistic about the potential of blockchain in the sports industry, forecasting that in the next few years his company will have injected $300 million into the sports industry through partnerships.

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