Juventus Launches Fan Token - Vote For Ronaldo

Juventus this year in the spotlight. First, the club led the headlines by signing Ronaldo and now by becoming one of the first football clubs to issue a fan token.

Excellent news for 340 million supporters of Juventus around the world. The Turin football club announced its partnership with the Socios.com platform and presents plans to launch a Juventus Official Fan Token.

With the help of innovative technologies, Juventus will develop a global club membership strategy and expand its audience in different countries. The token will allow the club’s fans around the world to participate in polls, thanks to which it will establish a closer connection with their fans. Juventus supporters will have the opportunity to purchase tokens through an innovative scheme known as the fan token offering (FTO), and Socios.com will release the token in the first quarter of 2019.

Earlier, the French club Paris Saint-Germain signed contract with the same company. The football club will issue its own cryptocurrency in partnership with Socios.com. The new digital coin will allow club fans to participate in polls, receive loyalty points and various exclusive awards. The partnership is also part of the club's broader strategy for integrating blockchain technology. It is assumed that the technology of the distributed ledger will improve the relationships with the fans and improve the efficiency of business processes.

The Italian football club of C series Rimini, became the first football club in history, whose shares were bought for crypto. The blockchain company Quantocoin bought a 25% stake in the club for its own cryptocurrency. Representatives of the club decided that the cryptocurrency offers a unique opportunity to fight corruption in sport, which was shocked by a number of high-profile scandals involving cash, such as the accusation of Qatar, that it bought votes to win the right to host the World Cup in 2022.

The Quantocoin payment system, using the distributed ledger technology, registers each transaction while respecting an absolute transparency. Thus, money paid between football officials, players and agents can be under constant control.

Then NewCastle United and Cardiff City followed the same path. Football clubs from the English Premier League are experiencing financial difficulties. They held talks with SportyCo, a decentralized platform for investing in sports, about launching ICO. Previously, this platform has already helped the Spanish football club Avai Futebol Clube to raise $20 million due to public sales of AVAI tokens. The company is also one of the main sponsors of another prestigious football club, Espanyol.

The teams went to such a step because of financial turmoil. Newcastle United lost part of the profit due to ill-considered managerial decisions. The second club Cardiff City has problems with creditors. In cooperation with the platform, clubs will be able to launch and implement their own digital tokens. People who bought these tokens will either receive some share of the football club's income, or they can purchase various buns related to the club or upcoming games. ICO, in this case, is a tool for crowdfunding.

The money received from the sales of tokens goes directly to the development of clubs. This means that the ICO is helping the entire sports industry enter a new era, according to representatives of the blockchain platforms.

The Union of European Football Associations (UEFA) has also begun to take advantage of the distributed ledger technology. Recently, UEFA has announced the successful testing of a new ticketing system for matches using blockchain technology. The new system makes the process of distributing tickets more simple and safe, allowing also to prevent their duplication. The UEFA-activated blockchain-ticketing system works in combination with mobile Bluetooth devices that are located at the entrance of the stadium.

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