In partnership with Socios.com, a blockchain-based voting and rewards app that uses Chiliz ($CHZ) crypto and is focused on the entertainment and sports industries, Juventus announces the launch of the world’s first Fan Token Offering (FTO). Its main goal is to facilitate related activities carried out by this Italian football club. Using the Juventus Fan Tokens ($JUV), supporters of the football club will now be able to vote on some specific decisions made by the club, and also earn rewards while doing so.
This is the very first time in all of football history that a major club will be tokenized on the blockchain. It is also one of the most significant mainstream moves made at one time, in all of crypto history. This is because Juventus currently has a large fan base of supporters all over the world, estimated to be about 423 million, who are involved daily and are doing a lot to promote the $JUV.
According to Chiliz & Socios.com Founder and CEO Alexander Dreyfus, the birth of the $JUV token will do wonders for football, but also for blockchain and crypto adoption. He noted:
“The tokenization 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’s decision-making process using digital assets.”
Juventus has already given fans the first opportunity to join this process through Socios.com, as the club tries to decide the platform’s official music which will be used to replace Chelsea Dagger by The Fratellis, the song that currently plays whenever the Juventus team gets a goal in, at the Allianz Stadium. Voting has already begun and fans can choose between four options including All The Small Things by Blink 182, Song 2 by Blur, Jump Around by House of Pain and Boom by P.O.D. The club doesn’t plan to reveal the winner beforehand, and will only do so next year at the Allianz Stadium, whenever the club scores its first goal. In the coming season, there will be more opportunities for fans to vote on decisions to be taken by the company.
Only $JUV holders will be able to take part in the voting process and although the platform doesn’t say the minimum amount required to be eligible for voting, each token should be priced around €2. However, interested users should be aware that the price is prone to fluctuations, which solely depends on the current rate of the $CHZ, Socios.com’s native token. Now it is trading for around $0,0115 and its value is currently growing.
Sometime next year, Socios.com also plans to kick off a new Marketplace offering, that will support social interaction and allow fans to chat among themselves, as well as give the opportunity for fans to directly exchange tokens.
The platform has also announced that by the end of the first quarter of 2020, it will have held FTOs for about six more clubs, including France-based Paris Saint-Germain and Spain’s Atlético Madrid. While both of those will take place in January, February will see FTOs for Galatasaray, A.S. Roma and West Ham United.