The Juventus Fan Token (JUV) is described as a utility token that offers the Juventus Football Club (‘Juventus’) fans a tokenized share of influence on the team’s decisions. The fans participate in decision-making using the Socios platform and services.
JUV fan token serves as a membership key that enables users to compete with each other for exclusive rewards, club recognition, and much more. The token holders can vote through smart contracts on different ‘fan decision’ polls that are published by Juventus.
Notably, Juventus is contractually bound to act based on the poll results. The token holders may also interact with the Socios platform and earn rewards. They can vote on polls, compete in contests, and link or chat with like-minded users.
Some of the rewards that they get include exclusive experiences, digital badges, matchday tickets, club-specific NFTs, in-app CHZ bonuses, and cashback offers from the official online shops.
The future JUV token utility includes integrating token access in partnered sites and applications. Users will also be allowed to spend their tokens to redeem VIP services and goods.
The team also said that JUV tokens will be used in staking for NFT rewards. They will be used to acquire gamified utility which is NFTs for blockchain-based games. JUV fan tokens can also be used to stake for pure collectibles (rare aesthetic assets) and real-world utility NFTs whose ownership represents real-world ownership of VIP access to stadiums, merchandise, and matchday tickets.
CEO & Founder of Socios.com, Alexandre Dreyfus, added:
“As one of the biggest and most successful football clubs in the world, I am delighted that Juventus has chosen to work with Socios.com, and to seek the rewards that our innovative blockchain technology has to offer.”
How Does The JUV Fan Token Work?
The utility token operates on the Chiliz Chain, which is a Proof-of-Authority sidechain that is powered by Ethereum, and is mostly used for:
- Rewards: the JUV holders can earn rewards from the engagements on Socios.
- Governance: the token holders are allowed to vote through smart-contract on different contract-binding ‘fan decision’ polls; that are published by the Juventus football club.
- Staking: soon, JUV will be made available for staking to earn various non-fungible token (NFT) rewards.
Currently, the Juventus fan token has a supply of 20,000,000. Among them, 1,315,932 were initially distributed to club fans through a Fan Token Offering (FTO). The remaining tokens are owned by Juventus and fans can acquire them through participation in community activities and Binance Launchpool, and by buying directly on exchanges.
These Juventus fan tokens have a monthly linear vesting schedule of 8 years. Starting April 2020, a total of 2,500,000 JUV tokens are released every year.
Juventus Fan Token’s Community
Socios, Chiliz, and Juventus confirmed that they will continue with their efforts to promote; and consistently embed the JUV tokens in the club’s digital marketing strategy. They will also embed these tokens in their e-commerce projects and global fan engagement strategy.
Currently, the community growth strategies for the JUV fan token include persistently engaging with the community on all available social channels. Also, the developers are committed to continuing in the development of governance voting polls for the token holders. The growth strategy also includes publishing articles that are JUV tokens through mainstream media outlets.
The future community growth strategies for the Juventus Fan token include integrating JUV in the club’s official applications together with online properties. They have also added more language support on the Socios platform and hosted many crypto-related events hosted by football celebrities.
Another growth strategy is conducting cross-marketing with the existing databases like fan clubs and Ticket Season globally, mainly in Latin America and Asia. The Juventus players will also be leveraged to promote the JUV token.
The team eventually said that they will launch regular promotions to win match day tickets; customized jerseys, and exclusive give exclusive experiences for the token holders to grow the community further.
With over 340 million Bianconeri supporters globally, coupled with a massive global; digital fan base that surpasses 60 million users across all social media networks; the launch of the “Juventus Official Fan Token” was meant to evolve the club’s global fan engagement strategy. This token will eventually help in expanding the team’s global audience by bringing most, if not all, of the fans close together.
Juventus Fan Token Price
The price today of the JUV fan token is $14.26, with a 24-hour trading volume of $10,566,184. It is up by 0.85% in the past 24 hours. Currently, the Juventus Fan Token ranks #861 on CoinMarketCap with a live market capitalization of $18,768,792.
This token is available in the top exchanges, including Mandala Exchange, Upbit, Binance, HitBTC, ZT, and many others.
1 comment