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Criptoro Launches ICO to Tokenize the Sports Industry

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Updated by Shilpa Lama
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Spanish fintech startup, Criptoro, announced the launch of an initial coin offering (ICO) earlier this month. The ICO is a part of the company’s funding campaign for its upcoming project aimed at the tokenization of the sports industry.
The company made available its homegrown token, the Criptoro Coin (CTRO), in a public sale on Oct 1, 2020. ICO investors can purchase the CTRO to earn a stake in the ambitious project that will begin with the tokenization of sports clubs. Criptoro is reportedly already in talks with several clubs at the European top-level. For example, it has already entered a partnership with Madrid-based futsal club Movistar Inter FS. Per this agreement, Criptoro will help the club to develop and customize a homegrown app with the CTRO as its native token. Criptoro is confident that among other perks, the CTRO token will also play a key role in its broader objective of helping the global sports industry to embrace the burgeoning decentralized digital economy and underlying technological standards. Commenting on the company’s broader objectives, Jesús Sánchez-Bermejo, CEO at Criptoro, noted:
“Sports institutions, by their extraordinary dimension and being recognized worldwide will find ways of financing beyond their borders.”
This is ultimately what the CTRO ICO aims to achieve by leveraging Criptoro’s platform, Dapp Sport, to organize the tokenization and issuance of private funds from big sports clubs. The company is optimistic that it will serve as a mutually beneficial arrangement for sports clubs, as well as fans and investors. On one hand, sports clubs will be able to raise funds from all over the world to strengthen their future projects. Meanwhile, sports fans and investors will have the option to be directly involved with their favorite clubs. If Criptoro manages to accomplish its objective of turning CTRO into a go-to digital asset for the tokenization of sports clubs and the broader industry, ICO investors are likely to earn sizeable benefits.
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Shilpa Lama
Shilpa is a freelance tech writer and journalist who is deeply passionate about artificial intelligence and pro-freedom technologies such as distributed ledgers and cryptocurrencies. She has been covering the blockchain industry since 2017. Before her ongoing stint in tech media, Shilpa was lending her skills to government-backed fintech endeavors in Bahrain and a leading US-based non-profit dedicated to supporting open-source software projects. In her current role, she focuses on...
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