Sports embracing the crypto world
Initially, the club planned to release the token in the first quarter of 2019. The decision to develop a branded token followed a similar initiative by Paris Saint-Germain (PSG). PSG’s partnership with Socios.com also allows fans to vote and also confers VIP status and/or rewards to holders.
Sport teams around the world have actively embraced branded tokens to improve interaction with their fans. In mid-October, the Sacramento Kings NBA basketball team partnered with CryptoKaiju to launch crypto-collectibles backed by non-fungible tokens.
Germany’s FC Bayern Munich is the latest soccer club to announce blockchain-based merchandise for fans through a partnership with Stryking Entertainment to produce digital collectibles of its players. As reported, more clubs are expected to join Stryking as licensing partners for the system.