Argentine soccer club Boca Juniors plans to launch its own club non-fungible tokens. The leading South American club says its NFT will be in collaboration with different companies. The mentioned partners on this initiative will enable the club to go beyond the soccer domain and tap into the latest NFT furor.
Boca Juniors NFT venture is not the first sports-related NFT. In fact, decorated American football quarterback Tom Brady, launched his own NFT recently.
The most popular NFTs associated with the sports sector are fan tokens. This type enables fans to participate in different team activities including jersey selection and interacting with players. These aforementioned activities are what are responsible for boosting engagements.
A recent Bloomberg publication stated that Boca Juniors was collaborating with Socios.com to create and issue fan tokens, with the tokens projected to generate around $10 million for the club. Furthermore, Boca Juniors is also in partnership with Decentral Games to create a virtual field boosting interactions between fans and players.
Another popular soccer team to launch its own NFTs is Spanish giant FC Barcelona. The tokens, dubbed the $BAR fan token, sold out in two hours and generated $1.3 million in revenue.
Image Credits: Pixabay
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