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Juventus Launched the World's First FTO

04 December 2019 11:14, UTC
Denis Goncharenko
On December 2, Juventus Football Club announced the launch of the world's first fan token offering (FTO), which is aimed at increasing fan engagement.

In partnership with the startup company Socios, the team issued JUV tokens to vote on various issues. According to the press release, the first vote concerns the selection of a song to celebrate a goal at Allianz Stadium. Juventus makes a revolutionary marketing move in the history of sports and entertainment. In addition to feeling part of the club’s life, fans can also be rewarded for performing certain actions.

Tokens can be purchased through the Socios service at a price of about 2 euros per token; they can also be obtained for free through the augmented reality function in the “Token Hunt” app. Only those fans who own the rokens, will be able to vote, however, the platform does not indicate a minimum amount for performing such actions. Soon, fans will also be able to communicate through the platform and exchange tokens.

In addition to being an interesting marketing move, the launch of the JUV token promotes the spread of cryptocurrency among new users. Juventus is the first from a list of football clubs wishing to use the new technology. Socios collaborates with several other football teams, including Paris-Saint-Germain, Atletico Madrid, Galatasaray, etc.