A growing number of soccer teams are venturing into cryptography for obvious reasons. With a global economy ravaged by Covid-19, soccer teams have closed their stadium gates to contain the spread of the virus, resulting in billions in losses.
Data from Deloitte showed that by the end of the 2020/21 season, the major football league clubs will have lost more than € 2 billion in revenue, including amounts largely due to the 2019/20 COVID-19 pandemic was waived by:
- Nearly zero game days revenue for Money League clubs as of March 2020, with fans unlikely to be able to return in any significant number in the 2020-21 season;
- Broadcasting discounts from the Big Five leagues and UEFA reportedly worth around € 1.2 billion, a large part of which is funded by the Money League clubs; and
- lost the potential to continue its previous growth path in the reporting period.
READ: Cristiano Ronaldo Becomes First Footballer To Earn Crypto
Given that the top 20 football clubs together generated EUR 8.2 billion in 2019/20, a decrease of 12% compared to the previous season (EUR 9.3 billion), it is not surprising that football clubs are behind would seek other sources of income and innovative strategies to keep their fans busy.
Sports teams use their fans’ sense of responsibility. Hence, it makes sense for soccer teams to explore ways that will increase fan loyalty and passion for the game.
Juventus, the best supported football club in Italy, were the first team to offer the world’s first fan token.
Juventus Fan Tokens ($ JUV) holders can vote on certain club decisions, such as: B. about changes to the club’s jersey. You can also earn rewards and access exclusive content and memorabilia along the way.
READ: Ex-Real Madrid striker David Barral becomes the first footballer to be bought with Bitcoin
Recall that prior to Juventus’ game against Benevento a few weeks ago, the world’s highly respected footballer Cristiano Ronaldo raised around 770 fan tokens to mark his record breaking milestone.
It is the first time that a footballer is rewarded with Crypto, which becomes a standout feature in the interaction of fans with the most popular sport in the world.
A growing number of fans holding the badge of Italy’s leading football team are obviously smiling at the bench. At the time of this writing, the fan token has already achieved a return of around 596.98% within 11 months, according to Coinmarketcap.
FC Barcelona has seen the token increase over 1,500% since it was launched at $ 2. and is now trading at around $ 35 (at the time of this writing) which brings massive profits to holders of such an asset.
Manchester City Football Club is the newest football club to research sports fan tokens. Registered Manchester City fans can use these tokens to receive rewards or freebies organized by the football club, play mobile games, access promotions and vote on the club’s polls.
READ: Cryptos are likely to grow by at least 1000% very soon
In addition to Manchester City Football Club, Barcelona and Juventus, AC Milan and Paris Saint-Germain are other clubs that have signed contracts with Socios.com, a unique mobile app that football fans can use to vote on club-specific decisions.
Manchester City Football Club has announced that it will reward all registered fans with free $ CITY tokens. Such an offer is seen as a reward for fan loyalty and therefore increases the clubs’ commitment to their fans. Other teams like Liverpool Chelsea, Arsenal and Manchester United are also pulling the way.
The use of crypto in sports will also address geographic challenges and trigger the global expansion of sports and teams. Football clubs are now using blockchain to provide better experiences for their fans. Currently, Chiliz is the crypto used when purchasing these sports fan tokens.
Crypto traders and investors can trade these sports tokens on crypto exchanges like Chiliz.net, Binance. HitBTC recently added the AC Milan (ACM), Juventus (JUV) and Paris Saint-Germain (PSG) fan tokens to their platform.
We have successfully added AC Milan (ACM), Juventus (JUV) and Paris Saint-Germain (PSG) fan tokens to our platform.
Exchange $ ACM, $ JUV and $ PSG for $ USDT. Visit: https://t.co/nGfrMnquKU pic.twitter.com/DpeoEAoojJ
– HitBTC (@hitbtc) April 2, 2021
Nairametrics believes that such engagements with these soccer clubs will open up more economic opportunities via blockchain and appeal to the wider audience by working with the global brands in the industry.
However, as this market segment grows and becomes increasingly concentrated, crypto education will also be required. Supporters of the most popular sports games need to adapt and adaptively work with their respective soccer teams to use these tokens more efficiently, rather than just speculating about price movements.