Cristiano Ronaldo Awarded With Cryptocurrency

Cristiano Ronaldo is the first soccer player to be awarded with a cryptocurrency for his career achievements. The soccer player received 770 JUV Fan Tokens, one for each goal scored. JUV, the official Juventus fan token, was launched in 2019 by the Italian soccer club on the Chiliz (CHZ) blockchain in conjunction with the Socios.com platform. Then the cost of the token was estimated at $2.2. According to CoinMarketCap, the cost of one JUV token at the time of writing is $14.89. Thus, Ronaldo received $11,465 as a reward from the club.

The last soccer club to join Socios.com and issue their own fan token is Manchester City. Club representatives promised to distribute free tokens to registered users of the Cityzens service, which was created for Manchester City fans. Token holders will have access to promotions, participation in closed voting and other bonuses.

The value of Chiliz's own token, CHZ, has been a response to the surge in activity recently triggered by various soccer teams. Since January 1, the value of CHZ has risen more than 2500%, while its market capitalization has risen from $100 mln to $4.5 bln and then dropped to $3.2 bln.

Image: Juventus