Did you know that the Italian football club Juventus launched its own crypto token to reach out better to its fans? The token allows its fans to participate in polling decisions. To do this the Juventus Football Club entered into an agreement with the blockchain firm Sorare.
According to the signed contract, the club will provide rare digital cards of the club’s ionic players like Christiano Ronaldo. The digital cards are created on Ethereum technology; these represent the players with which fans can trade. However, this event is not the first of its kind because even earlier, football clubs have entered into partnership with blockchain projects. Using this token, Juventus fans can vote on any decision made by this team, like even the song to be played when the team scores a goal, and also enjoy access to their official merchandise.
Why are football clubs such as Juventus using blockchain technology?
Many football clubs have of late been gravitating towards blockchain technology. According to the CEO of blockchain company Socios; their company was able to include many popular soccer clubs in recent years. The CEO mentioned that the reason for this was that his company could offer the teams the chance to create “fan tokens” that would give their fans the chance to interact with them directly. This relationship is more symbiotic where both parties stand to benefit. With players like Ronaldo being associated with Juventus, it would give much visibility to the blockchain use in the football world. Since Juventus shows its belief in this technology, more and more people would be inspired to know about it more.
How is Juventus using blockchain?
Juventus has made multiple efforts to improve its online presence across social media websites. This is because football popularity grew dramatically in the last few years, mainly after the Internet and dish television. Incidentally, Juventus appears to have a greater number of fan-followers in Asia today. So, companies like Socios will try and help these international fans to come closer to their favorite clubs. Bitcoin, the pioneer in the cryptocurrency world, has influenced football clubs to sign up new players with bitcoin and also pay in bitcoin. The recent inventions like bitcoin revolution referred to as automated bitcoin trading bots are attracting top level investors to enter into bitcoin automated trade as they involve no efforts and time. Owing to this speed and spread of cryptocurrency trade, Juventus made the right decision to introduce their own crypto tokens. This had also boosted its social media presence dramatically. Distributing free goodies and VIP tickets have helped Juventus connect with its fans.
While blockchain use is the buzzword today, an average fan may not really be aware of the potential of this technology. The introduction of such tokens will go a long way in bridging the gap between fans and their clubs. Sports analysts feel that adopting the blockchain will help to boost fan participation all over the glove. This will automatically translate into higher revenues for all parties. When you allow fans to purchase crypto collectibles that lets them be a part of decision-making, you can be sure your fan base will keep growing. So, the blockchain will actually offer fans an opportunity to become more than regular fans; they will become super fans.
More launches are expected to happen with leading football clubs in the near future while many more are waiting to jump on the bandwagon. This will usher in a new age of fan engagement and may prove to be a game-changer in mainstream adoption of cryptocurrencies.