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Italian Champions Juventus the Latest Football Giant to Launch Fan Token

Last Updated March 4, 2021 3:43 PM
David Hundeyin
Last Updated March 4, 2021 3:43 PM

Italian football Serie A champions Juventus FC have become the latest top level European football club to announce a partnership with a blockchain company, with the launch of the ‘Juventus Official Fan Token’. The token, which is being launched as part of a multi-year strategic partnership with blockchain platform Socios.com is designed to tap into the club’s 340 million-strong global fanbase and evolve its fan engagement strategy with particular focus on embracing millions of Juventus fans based outside of Europe and creating an intimate fan experience for them.

Juventus Fan Token Framework

According to an announcement released by the club, the fan token will be offered for sale to Juventus fans through a groundbreaking scheme known as a Fan Token Offering (FTO), with Q1 2019 tentatively fixed for the general release of the tokens. Holders of Fan Tokens will gain access to an exclusive mobile voting and polling platform that the club will use to ballot its fans and allow their voices to be heard, which improves the connection between club and fans.

Speaking ahead of the planned FTO Giorgio Ricci, Co-Chief Revenue Officer, Head of Global Partnerships and Corporate Revenues of Juventus said:

“Juventus is glad to welcome Socios.com to our partners. 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 cutting-edge way with their favorite club.”

The Juventus Official Fan Token will only be available through Socios.com, and will be tradeable against the platform’s native token, $CHZ.

On his part, Alexandre Dreyfus, CEO & Founder of Socios.com noted that the Juventus Official Fan Token project is the starting point for a planned rollout of similar offerings across the world’s top football clubs as the company aims to significantly improve the fan experience in football.

He said:

“Our long-term aim is to onboard more than 50 football clubs and we hope to inject an additional $300 million into the sports economy over the next few years. We have started at the very top, with some of the biggest names in football, and our ambition is to build the world’s biggest global football community and marketplace for football fans alongside demonstrating that blockchain and cryptocurrency is the trusted technology of the mainstream.”

Earlier CCN.com reported that English Premier League table toppers Liverpool FC announced a partnership with TigerWit, a blockchain-based trading app. Several other top flight European football clubs including Newcastle United, Wolverhampton Wanderers, Paris Saint Germain, Cardiff City and Tottenham Hostpur have also either indicated interest in creating their own tokens or signed partnerships with cryptocurrency and blockchain platforms.

In August, CCN.com also reported that European football governing body UEFA successfully trialled a blockchain-based ticketing system for the UEFA Super Cup match between Real Madrid and Atletico Madrid.

Featured image from Shutterstock.