Juventus Football Club Announces the Launch of the World’s First Fan Token Offering (FTO)
Juventus Football Club announced the launch of the world’s first Fan Token Offering (FTO) aiming to increase the engagement of its supporters. According to what was officially announced by Juventus on December 2, the first vote concerns the choice of the goal celebration song played at Allianz Stadium.
“La Vecchia Signora” Launches Fan Token Offering
In partnership with blockchain-powered fan engagement startup Socios, Juventus has issued its own Fan Tokens, dubbed JUV, to interact more with the public in its daily decisions such as the choice of the goal celebration song played at the Allianz Stadium. The current poll choices are “All the Small Things” by Blink 182, “Song 2” by Blur, “Boom” by POD, ” Jump Around” by House of Pain.
Juventus is making a revolutionary marketing move in the history of sport and entertainment. In addition to feeling part of the club’s life, fans can also be remunerated to complete certain actions.
Tokens are available for purchase through Socios.com at a price of around €2 per token, but can be obtained for free through the augmented reality feature of the App, “Token Hunt”. Only the fans in possession of the token will be able to access the vote, however, the platform does not specify the minimum amount required to be eligible for voting. But these are only the first available services. Soon, fans will also be able to communicate through the platform and exchange tokens between them, as if it was a marketplace.
Although the cost of the token is currently set at € 2 per unit, its price is subject to fluctuations due to the rate of the Chiliz token (CHZ), Socios.com’s native token, that is actually trading around $0.011 dollars.
Step Forward for Blockchain
Besides being a marketing move, the launch of the JUV token contributes to the spread of cryptocurrencies to new users. Although the concept behind the token is completely different from that of cryptocurrencies like Bitcoin (BTC), regular football fans are being introduced to cryptocurrencies increasing the possibility for these people to approach a world that would otherwise remain unknown.
Juventus is only the first of a long series of other clubs wishing to use this new technology. Socios has collaborations with several other professional football teams and six of these including Paris Saint-Germain, Atletico Madrid, Galatasaray, and A.S. Rome are thinking of launching their own token.