Fans of Juventus can now trade their tokens on the Malta-based Chiliz exchange, with other Socios.com tokens set to become tradeable soon.
The Juventus Fan Token ($JUV), an officially sanctioned utility token from the Italian soccer club, began trading yesterday on partner Chiliz’s online marketplace.
Chiliz specializes in fan tokens, and has also brokered such partnerships with other pro soccer teams such as FC Barcelona ($BAR), Paris Saint-Germain ($PSG), Atlético de Madrid ($ATM), A.S. Roma ($ASR), Galatasaray ($GAL), and CA Independiente ($IND), as well as esports team O.G. ($OG).
The Juventus Fan Token is the first to be made tradeable, with the others set to follow in the coming months. The token was first announced back in September 2018, and Chiliz held the Token Offering in November 2019.
Juventus Fan Token holders have the ability to vote on certain team matters. As Decrypt noted in a February feature about the impact of crypto on today’s soccer world, Juventus has already turned to token owners to decide which song would play during goals at the stadium, while Paris Saint-Germain had owners vote on which slogan should appear on the captain’s armband. O.G. Fan Token owners, meanwhile, could choose which in-game banner the players used during Dota 2 competitions.
According to CoinGecko, as of this writing, the Juventus Fan Token is worth $2.36 USD, with a total exchanged volume of $445,483 thus far. It’s currently unclear how many tokens are in circulation, although Chiliz originally announced a limited run of 20 million tokens. Trading is currently available via the Chiliz.net website, although the company says that it will also be added to the Socios.com app in the coming weeks.
Chiliz CEO Alexandre Dreyfus told Decrypt in February that the company hopes to offer Fan Tokens for more than 50 traditional sports, esports, and entertainment brands by the end of 2020. During a time in which the traditional sports world is on hold due to the COVID-19 novel coronavirus pandemic, fan tokens offer a potentially compelling way to stay involved with and invested in teams.
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