Boca Juniors, the famed Argentine soccer team, aims to enter the crypto world with fan tokens. Boca Juniors appears to be looking at ways to cash in on the NFT craze and is in talks with several companies to develop virtual tokens based on NFTs.

The club is considering whether the tokens should be issued through its foundation rather than the club itself. Many companies have proposed issuing tokens that would allow holders to take part in club decisions and receive discounts on official items and stadium tickets.

In the sports business, there are various methods to use NFT technology, and fan tokens are likely one of the most successful methods for soccer clubs. 

Sources familiar with the situation preferred not to be identified because the news of the discussions of top authorities with four global crypto companies are confidential.

Officials from the club have received many offers, including one from Socios.com, a leading sports token maker that sells tokens for over 50 different clubs, including FC Barcelona and the Chicago Bulls basketball team. One of them even suggested becoming a sponsor and having their logo appear on the team’s official shirt. 

Holders of this type of token can take part in some decision-making sessions, connect with players, and gain access to other benefits without having corporate privileges.

According to local estimates, the club’s current sponsorship arrangement with Qatar Airways is worth US$6.5 million per year.

Boca Juniors is one of the best known where Diego Maradona established himself as one of the best players in history. The new token launch for its fans with a cryptocurrency company will open up a new finance option for the club.

Fans of the football club can now invest in the club by purchasing tokens. By doing so, they will not only be supporting their favourite team but also earn various perks over time.

Pavan A

CBW - External Analyst

INDIA