Juventus to launch token on Socios platform

Juventus announced a multi-year strategic global partnership with Socios.com blockchain to launch a token and boost fan engagement for its 340 million supporters around the world.

The Juventus Official Fan Token will boost fan engagement through mobile voting and polling to allow supporters' voice to be heard, and create emotional connection between the club and fans. The Juventus crypto token will help bring millions of fans to the club and/or boost its publicity.

The fan token will be sold through an innovative Fan Token Offering (FTO) and the FTO will be held as early as Q1 2019. The token will be available on the platform and trade-able against the clubs native tokens $CHZ.

Socios, whose target is to bring on more than 50 football clubs to its platform, recently added Paris Saint-Germain (PSG) as its partner in hope to launch a cryptocurrency. Like Juventus, PSG will spend the cryptocurrency for mobile voting and poling, as well as accessing exclusive fan rewards, content and experiences.

Not only does the company want to help football clubs launch custom tokens for fan engagement but smaller clubs can use this as a fundraising method to be in a position of competing with larger competitors, improve stadiums and pay for more players and coaches. They can also buy and sell more than one or multiple fan tokens as they wish.

To buy these tokens, a fan on Socios or ChiliZ platform will create an account and funds his/her wallet with the platform's native tokens Chiliz by buying Chiliz directly on the platform using a debit/credit card or after buying the Chiliz from a cryptocurrency exchange and transferring it to the Socios platform. The tokens can then be spent by the owner to buy a team's token on the platform. The fan can then spend the tokens as they wish such as enjoying offers and VIP experiences from the club and voting.

The company also hopes to build a global football community and marketplace for football fans.

On the new announcement, Juventus said through its CEO & Founder Alexandre Dreyfus that they hope to help inject extra $300 million into the sports economy over the next few years.

Co-Chief Revenue Officer, Head of Global Partnerships and Corporate Revenues of Juventus Giorgio Ricci said the club was glad to welcome Socios.com platform to its partners saying that the club is always "very careful and pro-active towards innovation and new technologies." He said he believed the partnership could offer new opportunities for worldwide fan base "to engage in cutting-edge way with their favorite club.”

David Kariuki

David Kariuki likes to regard himself as a freelance tech journalist who has written and writes widely about a variety of tech issues that affect our society daily, including cryptocurrencies (see cryptomorrow.com and coinpedia.org); climate change (cleanleap.com), OpenSim and virtual reality (see hypergridbusiness.com). He is currently pursuing a MSc in Environmental Management at Open University. He does write here not to offer any investment advise but with the intention of informing audience, and articles in here are of his own opinion. Anyone willing to use any opinion here as advise to invest in crypto should obviously take own responsibility and accountability of their losses (or benefits) thereof. You can reach me at eqariu@gmail.com or david@cryptomorrow.com