The popular Argentinian soccer club Boca Juniors plans its entrance into the world of crypto with potential fan tokens.
Boca Juniors soccer club is in conversation with several crypto-related firms as it plans its entrance into the crypto space. The club envisions a form of fan tokens as an additional revenue stream. Included in the companies with token proposals is Socios.com, which already sells tokens for over 50 sports teams. FC Barcelona soccer team and the Chicago Bulls are among two of its clients.
Socios proposed a fan token which could possibly generate at least $10 million throughout their partnership. Currently, the deal finalization depends on whether Boca Juniors would issue tokens through its foundation or the club itself.
In addition to Socios.com, Decentral Games proposed a virtual reality stadium for Boca Juniors. A spokesperson for the team confirmed the club is pondering the crypto-related possibilities.
Crypto and the Sports World
Among other global industries, the world of sports has taken a major step into crypto-related ventures. From teams to individual players, the industry’s options for crypto integration are wide. In the niche of soccer alone there is a major instance of worlds colliding, particularly this past year.
Major NFT and fan token news revolved around Lionel Messi and his new career with Paris Saint-Germain. The soccer superstar issued his own NFT collection via the Ethernity Chain around the time of the transfer. During this time, fan tokens of Paris Saint-Germain (PSG) saw a major spike in price.
Aside from tokens, platforms like Sorare are working with teams on NFTs of its players. Most recently Spanish club La Liga partnered with the platform for digital cards of its players. Despite the overall hype and excitement around the crypto collectibles, some fans are on the fence. Some say it adds an additional cost to following a team.