One of the Italian major soccer clubs, Juventus, publicized that the club will start to operate “fan token” after two weeks passed when Paris Saint-Germain made a similar announcement. The club ranked the top in Italy and number two internationally with 60 million fanbase.
Juventus has collaborated with blockchain-based fan engagement platform: Socios.com and plans to release its “Juventus Official Fan Token” as soon as possible.
However, it is not the first soccer club which uses cryptocurrency. France’s major team, Saint-Germain, has already reported two weeks ago and now Juventus is trying to make the fan tokens eligible for asset trade for fan voting and polling.
Giorgio Ricci, the co-chief revenue officer of Juventus, head of global partnerships and corporate revenues, stated that in the perspective of the club, it is always cautious and proactive when it comes to innovation and new technologies. He added, Juventus applies the fan token system to communicate with the worldwide fan base no matter where they are.
There has been several unprecedented movement with the cryptocurrency industry in soccer this year. Several UK clubs also have considered advertising and integration of both cryptocurrency and blockchain technology in their future strategy.
EToro, a product of a deal with fiat and crypto trading platform, will provide clubs to foresee how they approach the case. The CEO of Socios, Alexandre Dreyfus, demonstrated positive stance toward crypto’s potential with an expectation that the company’s partnerships to put $300 million into the sports market over the next few years.
Author: Jieun Lee