Italian Soccer Club Juventus’ Fan Token Begins Trading On CHILZ.NET
Italian soccer club Juventus’ Fan Token ($JUV) has begun trading on Wednesday on Chiliz Exchange (Chiliz.net), the world’s first exchange platform for sports & entertainment launched in January 2020. This is the first among a new tradeable class of digital asset linked to a professional sporting club, making Juventus the first tokenized sports team.
The $JUV token, held on Socios.com, can now be withdrawn to Chiliz.net using the ‘withdraw’ feature in the app. All Fan Tokens purchased on Socios.com during the Fan Token Offerings (FTO) are subject to a 90 day lock from the date of purchase.
The live trading on Chiliz.net will soon be integrated directly into the Socios.com app. The token pricing in Socios.com will come from the Chiliz.net order book.
The price of the token will be defined by market demand arising from factors including fan sentiment, results, tournament victories and transfer window activity.
Juventus, like seven other leading global football clubs, entered into a global partnership with blockchain platform Socios.com in September 2018 to launch the “Juventus Official Fan Token” for the club to increase engagement between the club and its global fan base. The fan token was launched in early December last year.
The tokens can be used by fans to take part in polls and surveys about the club’s everyday activities and earn unique prizes related to the Club on Chiliz fan voting & rewards mobile app Socios.com.
The fan token will be tradeable against the Socios.com platform’s native token, ChiliZ ($CHZ), with the fans needed to purchase ChiliZ tokens to exchange into Fan Tokens through a process known as a FTO.
Eighth professional football clubs, including Juventus, have already joined the blockchain-powered fan engagement platform Socios.com over the past two years.
They are Spain’s Atlético de Madrid and FC Barcelona as well as European league clubs, France’s Paris Saint-Germain, Italy’s Juventus and AS Roma as well as UK’s West Ham United, Turkey’s Galatasaray Spor Kulübü and Argentina’s Club Atlético Independiente.
Fan Tokens for FC Barcelona ($BAR) Paris Saint-Germain ($PSG), Atlético de Madrid ($ATM), A.S. Roma ($ASR), Galatasaray ($GAL) CA Independiente ($IND) and esports giants OG ($OG) will go live on Chiliz.net in the coming months.
Recently, Socios.com announced plans to launch blockchain-powered COVID-19 immunity passes for global football fans to enable them to attend live games at stadiums in the aftermath of the coronavirus (COVID-19) pandemic.
The Socios Pass, an ID and immunity verification tool, will allow fans holding “Proof of Immunity” to return to the stadium and watch live games more safely and securely. Socios Pass will use blockchain technology and QR codes.
Source: Read Full Article