The popular football club, Boca Juniors from Argentina, has revealed future plans for its new upcoming cryptocurrency-related projects.
New Source of Revenue
The Argentinian Football Club has been in talks with various cryptocurrency companies in hopes of joining the cryptocurrency space and bringing their own set of new and unique products into the market. Intentions of developing a new source of revenue, the football club is planning to introduce fan tokens. The club has contacted many token distribution companies, which also includes, Socios.com, a popular company that is already serving more than 50 sports-related teams. Famous sports clubs such as FC Barcelona and Chicago Bulls are also receiving services from Socios.com, highlighting its major presence in the market.
Response from Firms
As of now, Socios.com has replied to Boca Juniors Club, proposing a fan token that would help to produce at least $10Million in revenue if their partnership is finalized. However, the finalization is still in progress as Boca Juniors still has to decide if it would distribute the fan tokens using their foundation or on their own terms. Following Socios.com, Decentral Games also made a proposition, which included the development of a VR-based stadium, themed on the Boca Juniors Club. Analyzing all the offers received by the club, an official representing Boca Juniors stated that the club is currently working on its decision for many crypto-related opportunities.
The rise in Crypto Products
Many industries, especially the sports industry, has shown quite a lot of interest in working with cryptocurrency-based products and partnerships. Many popular sporting names and teams have shown quite the engagement when it comes to crypto products, releasing fan tokens, NFTs and other products on a global scale.
An example of this happens to be when Global Star footballer Lionel Messi decided to join the French Club called PSG. He not only launched a new set of NFTs on his arrival but also contributed to the huge price spike of the PSG fan token. Other examples include popular fan tokens from Manchester City and the popular Spanish La Liga Group partnering with crypto firms to bring digital products for fans to purchase and enjoy.
Many other popular personalities and clubs in the sports industry have been actively working on making their crypto game stronger as demand rises with the passage of time.