Boca Juniors, Argentina’s most popular soccer team, is aiming for a goal in the field of digital tokens.
Boca Juniors appears to be looking into methods to capitalise on the NFT fever and is in talks with a number of companies to study their plans for developing virtual communities powered by NFTs.
In the sports business industry, there are various methods to use NFT technology, and fan tokens are one of the most common approaches for soccer clubs.
This sort of token entitles holders to certain privileges such as participation in decision-making sessions, interactions with players, and other perks without the requirement for corporate rights.
According to sources, Socios.com, the fan token creation company with licences for more than 50 high-level sports clubs, is proposing the issuance of a fan token that could produce around $10 million in revenue for Boca Juniors.
At this point, Boca Juniors has not made any decisions, but firms are already revving up their motors. The squad has more than 16 million supporters globally, and Socios.com has already established Argentina as a vital market for the organisation.
But it’s a win-win situation, and Boca Juniors may benefit significantly from the successful launch of a fan token or an NFT collection. In comparison, FC Barcelona’s fan token, the $BAR, sold out in less than two hours, earning the firm $1.3 million.
Similarly other clubs also have utilised their tokens to negotiate player salary. For example, when PSG purchased Lionel Messi, the contract included a payment in the club’s tokens in addition to the agreed-upon amount in fiat money.