Grupo Benfica CEO, Domingos Soares de Oliveira announced on Monday at the Lisbon Stock Exchange, that the football club will launch a “fan token” this summer.
“The emergence of digital assets, which will greatly influence the industry” was one of the highlights made by Domingos Soares de Oliveira about the post-pandemic sports future. And the club will not remain on the sidelines of this trend.
“We will soon announce the launch of our token, in the summer. We have very clear strategies on NFT,” he said, not wanting to go into the details of the project.
The CEO does not fear the drop the crypto market has been experiencing, with multi-million dollar losses in recent weeks and a “crash” caused by the crisis and loss of confidence in Stablecoins.
“I believe that the market will have a period of adjustment, but a positive adjustment”, affirmed Domingos Soares de Oliveira.
LEARN MORE: What is the Porto Fan Token?
Socios in talks with Benfica and Sporting
Benfica would follow in the steps of the Portuguese Football Federation (FPF) and Futebol Clube do Porto by launching a fan token.
As business advanced at the end of March, the Socios.com platform has been working with Banco de Portugal on a dossier on the subject, while also holding talks with Benfica and Sporting. The official announcement has not yet been made by either party.
Fan Token benefits
Fan Tokens are digital assets (cryptocurrency or digital money) issued in partnership between sports entities and technology companies.
Fan Tokens allow fans to participate in surveys and events exclusive to their club or sports entity: the most engaged will receive incredible rewards such as VIP attendance at events, meeting their idols, autographed merchandise, NFTs, gamification features and much more.
Fan Tokens are limited in number and fungible, which means it can be traded and its price is determined by the market.
Owners of Fan Tokens can sell their tokens on cryptocurrency exchanges or keep them in their digital wallet to obtain the right to interact on fan engagement platforms like Socios.
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