Tag: juventus

Italian Soccer Giant Juventus Embraces Blockchain Technology

In a move widely celebrated by fans, the Juventus Football club of Italy enters into a license agreement with a blockchain-based fantasy football company, Sorare.

The newly signed agreement as reported by the Cryptonomist on Feb. 20, will see the Italian giant football club offer rare digital collectibles cards of the club’s most iconic superstars which include that of a five-time Ballon d’Or winner, Christiano Ronaldo.

France based blockchain giant, Sorare, provider of soccer team management game with digital cards that are created on the Ethereum technology to represent players that fans can collect and trade. The firm added that such cards represent non-fungible tokens (NFTs) based on Ethereum’s ERC-721 protocol.

Football clubs and blockchain

This will not be the first time we have seen the partnership of blockchain projects with football clubs. Neither will Juventus FC be the last to venture into space. Not so long ago, the club announced a partnership with socios.com, the company that created the team’s official token. The aforementioned token is used by Juventus fans to vote on the decisions to be made by the team, as well as to gain access to official merchandise, member chat groups and much more.

Another Italian club to emulate the concept is AS ROMA with the introduction of its ASR token which functions in a similar fashion as that of the Juventus Football Club. Additionally, several famous football clubs which include Paris Saint-Germain, Atletico Madrid, Galatasaray, and many others have embraced the use of blockchain technology to align with the club’s developmental strategies.

While speaking on the achievement, Sorare CEO Nicolas Julia commented, “We are very proud to have signed this agreement with such an Italian heavyweight, we see this as a new key step in our vision to onboard the best soccer clubs from around the world and bring blockchain-gaming to football fans around the world.”

Earlier this month, Blockchain.News also reported that Perth Glory FC, an Australian Football Club, was sold to a UK-based cryptocurrency group, the London Football Exchange.

Image via Shutterstock

PSG and Juventus Fan Crypto Token Prices Surge as Binance Listing Goes Live

Binance has just listed the crypto fan tokens of football giants Juventus and Paris St-Germain—and has immediately recorded a surge in both the JUV and PSG token price.

Binance has officially listed the JUV and PSG fan tokens on its global exchange which has seen both tokens surge in value within moment.

Paris Saint-Germain Fan Token (PSG) is currently priced at $23.02 USD up 62.97% while Juventus Fan Token (JUV) is currently valued at $25.43 USD up 64.15% in the last 24 hours.

Since the announcement of the football fan token listings on Binance last week, both JUV and PSG have been increasing in value, Alexandre Dreyfus, the CEO of Socios which is the company behind the tokenization of the major football clubs, discussed the dramatic rise moments before the listing and warned investors not to be greedy.

Dreyfus said:

“30 minutes before listing of @juventusfc $JUV and @PSG_inside $PSG on Binance. The price action is already very intense with almost 60 to 120% increase since the announcement. Don’t have expectations. Just enjoy the fact that 2 of the biggest brands in the world will be traded.”

What are Fan Tokens?

The Juventus Fan Token (JUV) and Paris Saint-Germain Fan Tokens (PSG) both have a total token supply of 20,000,000 fan tokens, but what are they exactly?

Fan tokens are a form of tokenized asset, that represents proof of ownership or even membership for holders. As tokens are already being used for a wide range of purposes, many specialized blockchains have been developed with native intent to support tokens, the most common of which is currently Ethereum and their ERC standard tokens.

Socios.com is an app for football (soccer) fans, where users can acquire voting rights to influence the clubs they support by acquiring club-specific Fan tokens.

Chiliz ($CHZ) is an ERC20 utility token on the Ethereum blockchain that serves as the digital currency for the chiliZ and Socios.com platform. In launching their platform, alongside other sports blockchain ventures, a new category of token has emerged — the Fan Token. Once onboard the Socios.com platform, yet to-be-announced club partners host what has been called a Fan Token Offering (FTO). Fans must purchase $CHZ via a cryptocurrency exchange in order to acquire Fan Tokens. These tokens — which are specific to a team or club — are a finite, digital asset that provide access to an encrypted ledger of voting and membership rights ownership.

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