Italian Football Club, Juventus now has been tokenized thanks to Socios.com. It costs fans around $2 to purchase an indivisible token which they can earn rewards by using and vote for decisions regarding the team.
“99.9% of sports fans are not in the city/country of the team they are supporting. We created these fungible fans tokens to allow fans to have an influence over some fan-based initiatives,” Alexandre Dreyfus, founder and CEO of Socios.com, told The Block.
Right now, the only decision that fans are able to make is what song will be played when Juventus scores a goal at their stadium. Token holders will also receive merchandise discounts, exclusive access to press releases and some community features.
The new income from tokenization will undoubtedly be used to fund the team, but the decisions that holders are involved in will be very trivial. Basically, Juventus could have held a poll on Twitter asking which song they should play when the team scores, but instead they chose to monetize it. It would be interesting to see a future where there is enough fan money invested in the team to make decisions about trading team members or picking starting players.
Socios is also tokenizing football clubs, Paris-Saint Germain and Atlético de Madrid, but Juventus is their biggest announcement yet because of Cristiano Rinaldo being a team member.
$CHZ is Socios’ own token which can be purchased on Binance. In 2020 the company plans on releasing trading pairs for teams against their own token, like $JUV-$CHZ, but it is unclear what exchange the token will be on.
It’s interesting to see blockchain work directly with football clubs. Who knows, maybe this will be the future of trading cards. Socios makes note that teams have fans all over the world that can’t contribute by attending games, and this is their way of capitalizing on that. Let us know if you think it will work out in the comments.