Argentina will become the first national football team to launch a fan token through the Argentine Football Association’s deal with blockchain provider Chiliz.
Chiliz is the creator of fan tokens and the Socios.com fan engagement platform.
Read Also: UK Govt Gives Premier League Green Light to Roll Over TV Deal
$ARG Fan Tokens, according to a press release by Socios would be available to existing Argentinean fans on the Socios.com app on Thursday before a full-blown release in the coming weeks.
The Argentine football team is now joining an elite roster of over thirty leading sports brands that include that Paris Saint-Germain, Juventus, AC Milan FC, Barcelona, Manchester City, and the UFC.
Claudio Tapia, President of AFA, said: “We are very happy to announce this important agreement with the multinational and innovative brand Socios.com.
Since assuming our management, we have faced the challenge of generating greater income for the AFA, developing new revenues and enhancing the commercial presence of our National Team in the world.
This agreement clearly responds to our strategy and also reinforces our digital growth.
Through Fan Tokens, fans will feel closer to our national team and will be able to influence the team, earn rewards and enjoy exclusive experiences.
It’s important to note that the use of fan Tokens is fast gaining momentum as just this year alone over $120 million was generated and will be shared with Socios.com partners.
Crypto experts opine that sports teams partnering with Chiliz will open more economic gateways amid disruptions to sporting activities brought about by the COVID-19 pandemic which had weakened the earnings of many sports teams significantly.
Chiliz, a sport utility crypto is already facilitating monetization tools for sports brands based on tokenizing the rights of their fans.
Alexandre Dreyfus, CEO of Chiliz and Socios.com in his words disclosed “Two World Cups, 14 Copa América titles, geniuses like Messi and Maradona that have cast a spell on billions with their brilliance — Argentina are legends of world football.
We’re therefore incredibly proud that they will become the first national team in the world to launch a Fan Token on Socios.com.
This is also a massive day for Argentina’s famously passionate fans, who will now have an incredible new way to engage with and influence their beloved team.
In a single groundbreaking day, we’ve added new partners from three continents to our ever-growing roster.
That being said, at the time of drafting this report Chiliz traded at $0.429953 with a daily trading volume of $695 million and a market value of about $2.4 billion.