Fan tokens are rising in popularity in the sports industry. Different teams have joined the crypto world by releasing their fan tokens and selling them to their fans. This acts as an alternative means of revenue for the team. One team that is planning to do this is a popular Argentine club, Boca Juniors. At the moment, the team is discussing with different blockchain firms to create the concept.
The team may settle with Socios.com, a firm that has created fan tokens for several teams like Chicago Bulls and even FC Barcelona. With this partnership, it is predicted that millions of dollars will be made.
According to FXEmpire, “The partners proposed a fan token that could possibly generate at least $10 million over the course of their partnership. As of currently, the deal will be finalized either through Boca Juniors’ foundation or through the club itself.”
It is also considering creating a virtual reality stadium from the proposal submitted by Decentral Games. At the moment, no one can say for certain if it will be pursued.
Fan tokens are not a new innovation in the crypto space, as a myriad of teams in different sports have created them for their fans. Another innovation that many sports icons and brands are favoring is Non-Fungible Tokens.
