Cristiano Ronaldo’s football club, Juventus, now has its own crypto token


  • The club has partnered with a blockchain startup called Socios for the venture.
  • Fans who own the tokens can earn rewards and earn a right to cast votes on some club decisions.

Juventus Football Club of Italy now has its own crypto token that gives voting power to its 40+ million fans. According to an announcement shared with The Block earlier, Juventus has collaborated with Socios.com, a sports-focused blockchain firm, for the token $JUV. Using Socios' app, Juventus’ fans can now purchase these tokens and earn a right to vote on some club decisions and earn rewards. 

Alexandre Dreyfus, founder and CEO of Socios.com, 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. 

For example, fans can cast their votes on the first poll, which will decide the song that will replace Chelsea Dagger (the song that's currently played every time Juventus scores a goal at the Allianz Stadium). Only fans who own $JUV have the right to vote. JUV is currently priced at around €2 (~$2.2) apiece. Through the Socios app's “Augmented Reality” feature “Token Hunt,” a limited number of these tokens are available for free. 

Giorgio Ricci, chief revenue officer of Juventus said:

We are proud to be the first Club to be activated by Socios.com on its platform, inaugurating a new way to interact with our fans around the world.

Socios is aiming to tokenize more football clubs across the globe. It has already lined up six deals for Q1 2020. These include Paris Saint-Germain (PSG) and Atlético de Madrid (tokens for which will be launched in late January); West Ham United, Galatasaray and A.S. Roma (in February) and esports provider OG (in March), per the announcement.


 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Predictions: Bitcoin bull Tom Lee says 2020 will be positive for BTC

Bitcoin (BTC) has lost nearly 6% of its value during recent seven days and hit the low of $8,217 on Friday. At the time of writing, BTC/USD is changing hands at $8,330 with the short-term recovery capped by SMA50 1-hour at $8,370. 

More Bitcoin News

ETH/USD bears flip the bulls, target shifts to $5

Ethereum Classic is facing the ultimate correction following a massive bull-run that had it hit January highs around $12 from December lows at $3.41. The persuasive urge upwards has, however, ended in losses due to a lack of ...

More Ethereum Classic News

Ripple's CEO sees an era of IPO in cryptocurrency industry

Ripple's XRP, the third-largest digital asset with the current market value of $9.4 billion has lost over 5% in recent 24 hours and hit the low of $0.2136 on Friday. XRP/USD is moving within a clear bearish trend amid expanding volatility.

More Ripple News

The Crypto Sector in selloff mode searches a support zone

Most of the cryptocurrency sector accelerated the losses after breaking the neckline of support that was holding their prices. The selling pressure was in almost all digital assets.

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bitcoin bulls and bear fight gets a tougher edge

The cryptocurrency market started the downside correction after a strong rally initiated by risk reversal play at the beginning of January and reinforced by various altcoin pumps...

Read the weekly forecast

BTC

ETH

XRP