Avaí Football Club to come up with its own cryptocurrency with complete Initial Coin Offering (ICO).
Brazil’s Avaí Football Club to follow the French soccer giant Paris Saint-Germain football club (PSG). It is to be recollected that the French soccer giant Paris Saint-Germain football club (PSG) recently announced their own cryptocurrency with complete initial coin offering.
Avaí FC partnered with Sporty Co, a sports investment ecosystem. Blackbridge, the blockchain based football investment firm will be raising funds from across the world via its ICO. The goal of the firm is to raise $20 million in sale.
The cryptocurrency of Avai will be a new utility token. This is called the Avaí FC Token. This has been specifically designed for the use of the football club. Fans from all parts of the world will be a part of this new journey.
Avaí FC Token focuses on updating itself with the latest trends and technology; thereby, becoming a very interactive club for its society.
Avai is the first soccer team to officially launch its digital token across the world. This move will bridge the gap between the Fintech Industry and the grassroot sport by making use of blockchain technology.
The quoted financial value for the Avaí FC Token will be exchanged in Ether/
Etherum. The public offering of the newly created crypto currencies in ICOs will be paid using Ethereum. This will eventually help the company raise funds for the execution of its projects, from around the world.
This kind of cryptocurrency investment is different from the widely prevalent crowd funding process. In a crowd funding process, the products and services are offered in fiduciary currencies like dollar and real.
If the Initial Coin Offering should be done in a serious manner, the company should come up with a good business plan, which is known as the white paper. The blockchain is presented to the concerned public. The numbers of tokens will be issued publicly. A plan detailing how the resource will be utilized should also be presented. The schedule of how the project will be executed should as well be taken into consideration.
The Utility Tokens that will be issued as a part of the Avai FC project will work a lot similar to a discount coupon or voucher. The token will have a predefined initial value. When all the stages of execution take place as described in the White Paper, the value can be freely negotiated by the possessor with other stakeholders.
SportyCo and Blackbridge Sports are the official partners who will be providing for the “Avaí Futebol Clube”, right from the stage of creating a technological infrastructure of the blockchain that will be linked to the Club’s marketing through the acquisition of participants during the collective offer period of the currency ( ICO).
Marko Filej, Co-Founder of SportyCo, expressed his pleasure to receive Avaí as a partner by stating. “We look forward to working with Avaí FC and see how they intend to launch their new digital currency with the SportyCo platform that has always been leading innovation in the world of sports finance and sportsmanship. With this initial money offer we are opening a new chapter in football and the sports industry in general.”
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