Juventus has made history as the maiden professional football team to launch a fan token via blockchain-fueled voting and rewards mobile app Socios.com. The team boasts more than 400 million fans, all of whom will now have the opportunity to use the token to vote, earn rewards, and influence the direction of the club. Turin, Italy-based Juventus has launched the Juventus Fan Tokens ($JUV) through what’s been dubbed a Fan Token Offering, a first for a football club, and the cryptocurrency is available for fans to purchase on the Socios.com app. Given the high-profile nature of Juventus and players such as Cristiano Ronaldo, the partnership has the potential to thrust cryptocurrencies further into the mainstream.
Alexandre Dreyfus, CEO & Founder of Chiliz and Socios.com, stated in a press release:
“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 decision-making process using digital assets.”
The move is designed to appeal to fans around the world, giving token holders the opportunity to vote on the direction of the club regardless of where they may live. Dreyfus told The Block:
“99.9% of sports fans are not in the city/country of the team they are supporting. We created these fungible fans tokens to allow fans to have an influence over some fan-based initiatives.”
To start, fans can vote with their $JUV tokens to determine which the song that will be played whenever Ronaldo or any other Juventus player scores a goal at Allianz Stadium. The survey will include the following choices:
- Blink 182 – All The Small Things
- Blur – Song 2
- House of Pain – Jump Around
- P.O.D – Boom
The song that will be replaced is “Chelsea Dagger,” which has been running for years. You have to wait until Juventus scores its first goal next year to learn which song won the poll.
$JUV tokens are currently priced at €2 (approximately $2.2) per coin, and a percentage of the tokens have been earmarked to be available for free on the Socios app with Token Hunt, an Augmented Reality tool, since November.
Total supply is 20 million $JUV fan tokens, which in Q1 2020 will also be made available in the $JUV/Chiliz ($CHZ) trading pair, the latter of which is the native cryptocurrency of Socios.com. CHZ is listed on cryptocurrency exchange Binance, and the price is currently hovering at around $0.011.Source: Binance.com
While Juventus is the first pro football club to launch a Fan Token Offering, the pipeline is filling up. Socios.com has half-a-dozen more deals with leading teams in the works for early 2020. These clubs include:
- Paris Saint-Germain
- Atlético de Madrid
- West Ham United
- A.S. Roma
- eSports team OG
The trend appears to be catching on, with dozens more clubs reportedly waiting in the wings to launch their own respective fan tokens.
The Socios app is currently available on Google Play and is coming to iOS soon.