The Brazil Avaí Football Club has joined the Crypto market. It has created history by becoming the first football club to enter blockchain technology. They have launched their own cryptocurrency. The launch event took place in Ressacada Stadium Auditorium, Brazil. The partnership has been done with the decentralized sports investment ecosystem SportyCo and football investment platform Blackbridge Sports. These platforms will be providing them with the blockchanin technology as they are the block chain- based sport investment platforms.
The purpose of this is to raise $20 million funds worldwide with Initial coin offering. The initial coin Offering will be closed by November starting. People will be able to buy the Avaí Football Club token in October. The fan following of the Avaí Football Club will certainly see a rise. The price of the token is set at $1 for the first month.
The Aim of this launch has been said to minimize the gap between the Fintech and sports world. The president of Avaí, Francisco José Battistotti mentioned that this move will aid the team in becoming a stable member of the Brazilian Series A Championship.
“We are very happy to do so in partnership with SportyCo for being the first sports company to make an initial money offer, paving the way for other clubs around the world to provide funding for their sporting activities in this new way,” Added the President of the club.He further assured that the money raised from the crowdsale will be utilized for the functions of the club only.
Along with the President, members of the board and councils of the club, representatives from the Brazilian Association of Cryptomoedas and Blockchain, and other guests also attended the event.
The token might have a bright future as it will be listed on various cryptocurrency exchange platforms. This has been a great initiative where techo have joined hands with the sporty!
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