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Brazilian Premier League Soccer Club Launches Crypto ‘Fan Tokens’

Atletico Mineiro, a Brazilian premier league soccer club, is launching its own fan token “GaloCoin” based on Ethereum blockchain.

Brazilian premier league soccer club Atletico Mineiro has launched a fan token dubbed “GaloCoin,” Cointelegraph Brazil reports Friday, Dec. 14.

The GaloCoin is named after Atletico’s mascot, a rooster (“galo” in Portuguese). It is based on Footcoin — a platform that allows to launch utility tokens on the Ethereum blockchain. The GaloCoin is tied to the national fiat currency exchange rate and is equal to one Brazilian real.

Atletico’s token will allow fans to purchase game tickets, official apparel, as well as participate in discount programs. To use the club’s cryptocurrency token, one has to buy at least 50 GaloCoins (equivalent to approximately $13).

Utility tokens are steadily increasing in popularity among soccer teams. In September, one of the best-performing French clubs Paris Saint-Germain (PSG) partnered with the blockchain platform Socios.com to launch its own Fan Token Offering (FTO).

One of Italy’s most famous clubs, Juventus soon followed PSG’s example and announced “Juventus Official Fan Token,” also in partnership with Socios.com. The coin is set to launch in early 2019.

Moreover, seven United Kingdom premier league clubs — Tottenham Hotspur, Brighton & Hove Albion, Crystal Palace, Cardiff City, Leicester City Football Club, Newcastle United and Southampton — have partnered with local crypto trading platform eToro to integrate blockchain and cryptocurrencies in soccer stadiums.

As Cointelegraph reported in August, the Union of European Football Associations (UEFA) has implemented a blockchain-based ticketing system. The association has already conducted a successful trial during the 2018 UEFA Europa League final in Lyon this May, where 50 percent of the tickets were sold using a blockchain-based application.

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Rimini FC Becomes First Ever Football Club Purchased Using Cryptocurrency

Rimini FC, a team in lower tiers of Italian football, has become the first club to be purchased using cryptocurrency. This news is the latest in a series of cryptocurrency adoption cases in the football and general sporting world. Recently, a few English football teams signed a partnership with eToro to explore Bitcoin usage in facilitating player transfers.

Details of the Purchase

The purchase comes as part of the club’s investment in Quantocoin which is currently in its ICO stage. Rimini FC is participating in the Quantocoin ICO in exchange for selling 25 percent of its shares to Heritage Sports Holdings (HSH) and its partner – Quantocoin.

In a press conference announcing the deal, Giorgio Grassi, the President of the club said:

Negotiations with this group have been going on for a couple of months. Heritage Sports Holdings with its partner Quantocoin will try to bring to the team and to the city new ideas and synergies from the sporting, brand image and technological point of views. Heritage Sports Holdings’ participation is innovative in view of its crypto payment system (QTCt) and the use of blockchain technology, for which Heritage Sports Holdings is already at the forefront in other countries.

For their part, both Quantocoin and HSH aren’t strangers to the melding of cryptocurrency and football. Quantocoin investor Pablo Dana also owns Gibraltar United which recently made history as the first football club to adopt cryptocurrency as a payment means for player wages.

Cryptocurrency Adoption in Football

There appears to be an increase in the notable developments taking place at the intersection of football and cryptocurrency. Famous players and ex-players like Ronaldinho, Andres Iniesta, and Carles Puyol have either launched or endorsed cryptocurrency projects. Also, during the recently concluded FIFA World in Russia, some hotels allowed fans to pay for their accommodation using Bitcoin.

One major area of interest in the adoption of cryptocurrency is the use of the immutable blockchain technology to combat widespread corruption in the sport. In recent times, prominent heads of FIFA and UEFA have been forced to resign on charges of bribery and corruption.

Writing for Forbes, Joe Wallen reports on the sentiments of Pablo Dana concerning the use of cryptocurrency to fight corruption in the sport. According to Dana:

We are working exactly on the ideas that UEFA want to put into place. This is transparency in football and we are looking to reduce corruption through our Quantocoin platform.

Do you think cryptocurrency can eradicate the corruption that has become endemic in Football? Let us know your thoughts in the comment section below.

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eToro to Pay for Major UK Soccer Sponsorship Deal With Bitcoin

Online investment platform eToro has inked a deal that will see it pay with bitcoin to sponsor teams within the UK’s top soccer league.

The Israel-based company said in a press release that, with help from sports marketing agency SportQuake, it has entered new partnerships with seven Premier League football clubs for a range of sponsorship assets, including access to players, digital rights, tickets, LED perimeter boards and interview backdrops.

Planned and finalized over six months, the deal sees eToro partner with Tottenham Hotspur, Newcastle United, Crystal Palace, Leicester City, Southampton, Brighton & Hove Albion and Cardiff City, and claim it is “the first brand to pay for a Premier League partnership in bitcoin.”

Iqbal V. Gandham, eToro’s managing director for the U.K., said:

“The blockchain technology that underpins crypto currencies like bitcoin brings transparency, which we believe can improve the experience for everyone who loves the ‘beautiful game’, from fans being targeted by ticket touts, or a club negotiating a transfer, we believe that blockchain will revolutionise the world of football.”

The move to fund the sponsorship deal with bitcoin will perhaps come as little surprise. As far back as January 2014, eToro became an early adopter of the cryptocurrency, opening up bitcoin trading for its then 3 million users.

Early in 2017, the company moved to allow customers to buy or sell XRP, ether and litecoin on its platform. However, the investment-only service did not allow them to deposit or withdraw cryptocurrencies from their accounts.

Then, in May 2018, the firm announced it was launching a fully fledged cryptocurrency exchange with a wallet service and the addition of the dash, bitcoin cash, stellar, ethereum classic, NEO and EOS cryptocurrencies.

The announcement also saw customers in the U.S. gain access to cryptos on the platform for the first time.

Just yesterday, the token of the IOTA project was also added to the platform.

Premier League football image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Seven Premier League Football Clubs Sign Bitcoin Advertising Deal With eToro

UK-based trading platform eToro has signed an advertising deal with seven Premier League football clubs paid in Bitcoin for the first time, the parties revealed Tuesday, August 21.

According to various sources, UK clubs Tottenham Hotspur, Brighton & Hove Albion, Crystal Palace, Cardiff City, Leicester City Football Club, Newcastle United and Southampton announced they had signed up to host eToro advertisements.

Blockchain and cryptocurrency integration in football stadiums and the industry will also form a focus for the partnerships, eToro so far not giving details as to the nature of the “exploration.”

The move marks a fresh milestone for cryptocurrency integration in mainstream football. Sporadic experiments have already come from clubs elsewhere, including Turkey, where Harunustaspor hired a professional player for Bitcoin in January.

“This is very much the first step on a long road to football fully embracing bitcoin and the underlying blockchain technology,” eToro’s UK managing director Iqbal V. Gandham meanwhile said quoted by The Drum.

Last week, the Union of European Football Associations, more commonly known as UEFA, confirmed it had deployed a Blockchain-based ticketing system as part of a phased rollout.

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Union of European Football Associations Implements Blockchain-Based Ticketing System

The Union of European Football Associations (UEFA) has successfully deployed a new ticketing system via mobile phones based on blockchain technology, according to an August 16 press release.

After the “successful implementation” of the blockchain ticketing system for 50 percent of the tickets for the 2018 UEFA Europa League final in Lyon in May, the UEFA had decided to increase the technology’s reach “to all of the general public” in Estonia.

The official UEFA announcement states that “100% of the match tickets” for the UEFA Super Cup soccer match between Real Madrid and Atletico Madrid held in Tallinn, Estonia on August 15 were sold using a blockchain-based iOS or Android application.

The UEFA will continue to develop the use of a blockchain-based ticket distribution system for future events, the announcement notes, adding:

“UEFA is looking to make its ticket sales process for matches more simple and safe — thanks to a new system aimed at providing secure ticket distribution, and which prevents the replication and duplication of tickets.”

Earlier this summer, Cointelegraph published a descriptive follow-up on how to use cryptocurrencies during the FIFA World Cup 2018 in Russia. And this winter, Harunustaspor, a Turkish soccer team, had announced that it had partially paid one of its players in Bitcoin (BTC), Cointelegraph reported January 31.

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Soccer Body UEFA Scores 'Successful' Blockchain Ticketing Trial

The Union of European Football Associations, or UEFA as it’s more commonly known, has just announced the completion of a “successful” trial of a mobile ticketing app built with blockchain.

Aimed to make ticket sales for soccer matches “more simple and safe,” the effort saw the organization test the app at this week’s UEFA Super Cup match between Real Madrid and Atletico de Madrid in the Estonian capital, Tallinn.

The system, UEFA said on its website, is designed to provide secure ticket distribution that can prevent forgery and duplication of tickets.

The trial notably saw UEFA distribute all of the tickets for the Tallinn match that had been sold to the public via the blockchain-based app for iOS and Android.

The ticket distribution system, it said, worked in combination with mobile Bluetooth devices at the entrances of the football stadium.

The full test followed what UEFA called “fine-tuning and improvements” following previous partial trials, including one that distributed 50 percent of tickets at a match in Lyon, France.

UEFA said it plans to continue developing the system with the intention of using it at other football events going forward.

Real Madrid image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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National Football League Union Partners With Blockchain Startup

A union from a major U.S. football league is partnering with a blockchain startup to help its athletes license products on a decentralized network.

Announced Tuesday, the National Football League Players Association (NFLPA) plans to encourage its members to provide commentary, livestreams and other content for the FanChain platform, thereby earning revenue for themselves outside the games they play, the union announced Tuesday.

To that end, the NFLPA has purchased a minority stake in blockchain startup SportsCastr, the company behind FanChain.

SportsCastr’s platform allows anybody to set up streams and provide commentary on games, NFLPA vice president of business and legal affairs Casey Schwab told CoinDesk. With the new partnership, some NFL players will be able to earn revenue by providing commentary during live sporting events and otherwise creating unique content for fans to enjoy.

“When you look at blockchain, and obviously currencies have been the most ubiquitous use of blockchain today, but when we look at tokenized assets or tokens or [non-fungible tokens], we look at the different ways we can try to create products that are going to be sustainable and long-lasting,” he said.

Schwab added:

“Because of the decentralized nature of the platform, anyone can get on it, players can get on it. NFL players are really interested in blockchain, in crypto … if a player calls me and asks ‘how do I get involved’ I’d suggest he go on SportsCastr and start generating tokens.”

To bring in revenue on the platform, athletes can either earn tokens from the system by creating content for the platform, or have fans pay them with tokens directly.

Players may even be able to launch subscription-only streams, according to Schwab.

The platform won’t be limited to just football players, either. Schwab said that representatives from other sports are in discussions with the platform too, although he could not provide a timeline for any potential program launches.

Similarly, athletes will free to discuss or commentate on games from sports outside their own, he continued.

“We’re not limiting it to any sports. It’s really about engaging all athletes,” he said.

The NFLPA first started considering working with a blockchain startup several months ago, as part of its OneTeam Collective – the union’s venture capital arm. Schwab explained that the wing allowed companies to offer equity rather than cash when licensing trademarks or player time.

“I’m a big believer in blockchain and I think it will revolutionize our industry, sports, like it may have revolutionized industries like food,” he said.

As a result, the NFLPA looked for a platform with a solid foundation, which brought it to SportsCastr.

Schwab concluded:

“They are building an entire universe. To use an analogy, they’re not just building the video game, they’re building the video game, the console, the outlets [and] the television. That’s a big endeavor.”

NFL football image Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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FIFA World Cup 2018: Crypto for Betting, Hotels, Booze and Flights

Major sporting events always attract a massive amount of attention across the world and it is encouraging to see cryptocurrencies being integrated into the many aspects of the event.

We’ve seen this happen at the Super Bowl and the Winter Olympics in the past six months, so it’s not surprising that Bitcoin and cryptocurrencies are becoming far easier to use in the many industries involved in these major events — from hospitality to gambling.

Football

Every four years the global sporting community feasts on a festival of football at the World Cup, as the world’s most popular sport takes centre stage.

Football, in its current form, was birthed around 1863 in England, but its origins stem from numerous games played throughout history, according to FIFA. Over the past 100 years the game has taken hold in countries around the world, in part due to its simplicity and ease of access.

Given its status as the biggest sport in the world, the FIFA World Cup has inevitably become the most watched sporting event and fans travel the world to support their teams, wherever the tournament is being hosted.

2018 World Cup

The 2018 World Cup is currently underway in Russia, with 11 cities and 12 stadiums playing host to 64 matches during the month-long spectacle.

The country is expecting more than 570,000 international visitors over the duration of the competition — with the influx of foreign tourists also expected to provide a boost to the Russian economy.

Travelling tourists provide a need for adequate accommodation and foreign exchange facilities, and this is where cryptocurrencies have come to the forefront at the World Cup.

Crypto at World Cup

In the four years since the last World Cup, cryptocurrencies have grown immensely. The proliferation of the industry came to a head last year, as Bitcoin, Ethereum and a number of altcoins reached all time highs.

With that being said, football fans were able to bet on the 2014 World Cup in Brazil with Bitcoin using Bitkup’s platform.

While the markets have cooled considerably, the availability and ease of access to cryptocurrency wallets and exchange platforms has continued to grow.

This seems to be the case at the World Cup in Russia. Another factor is that Russia is still operating under economic sanctions.

Put simply, cryptocurrency gives visitors and fans the ability to quickly and easily withdraw rubles — the Russian currency — using cryptocurrency.

Bitcoin for hotels, booze and flights

In the build up to the tournament, Kaliningrad hotel chain Apartments Malina announced that customers would be able to book and pay for accomodation using Bitcoin.

The manager of the chain, Anna Subbotina, said the move was a forward-thinking initiative that could blaze the trail for the hotel industry:

“Cryptocurrencies are now enjoying increased interest. Gradually, they will come into use as a means of payment. And we decided that the fans should be able to pay for our services with the help of this innovative technology. It may very well be that other hotels awaiting [sic] our example for the forthcoming football holiday.”

Accomodation is not the only thing that tourists can use cryptocurrencies for during the World Cup. Killfish, a chain of bars in Russia, is accepting Bitcoin for booze as part of an extensive promotional program that promises great discounts.

Getting to Russia in the first place was also possible with cryptocurrencies. Cheapair has been accepting Bitcoin as a payment method since 2013, and with flights to Russia available through the airline, people could have easily made their way to the country using the cryptocurrency.

Travel agency Destinia also accepts Bitcoin as a payment method for its clients, and football fans using the service provider to get to Russia had another avenue to spend their BTC to enjoy the tournament.

Crypto betting

With many sports, betting has become part and parcel of the experience. Die-hard fans are willing to put plenty of money on the line in hopes of striking gold in terms of their luck — and they can also do it using cryptocurrency.

There are a number of sport betting platforms that have adopted cryptocurrencies as a payment and betting option. Intertops and Bodog are two examples of betting websites that accept cryptocurrency bets as well as normal fiat betting.

The market is still one that needs a lot of development, but a number of platforms are working hard to become leaders in the cryptocurrency sports betting space.

Once you’ve found a platform you feel comfortable with, you still need to do some research before you start putting down bets on the outcomes of games. With this in mind, a US-based platform is working hard to provide a blockchain-powered solution for reputable betting tips.

There also exist Blockchain-based applications that provide betting advice to their users. Such platforms record predictions of sporting events on a blockchain, providing transparent public records of betting predictions. Users are able to access all records, which allows them to check other bettors track record to ensure validity of betting odds and advice.

Plenty of crypto-goals at the World Cup

By the time the next World Cup rolls around, far more service providers could be actively using and accepting cryptocurrencies as a payment method.

As previously mentioned, betting with Bitcoin was possible at the 2014 World Cup — so the sky is, quite literally, the limit when it comes to the possibilities of crypto adoption and blockchain solutions being far more prevalent in 2022.

With the next football global showpiece being hosted in Qatar, there is even more reason for cryptocurrency development and adoption in the Middle East.

The industry received a boost when an Islamic scholar produced a report that suggested that Bitcoin is Halal, and conforms with Islam and Sharia law.

With four years to go, there is plenty of time for the blockchain and cryptocurrency sector to grow in the region.

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Blockchain Gaming Company Launches Free Fantasy World Cup Tournament with $135K Prize Pool

A blockchain-based gaming company which offers its own cryptocurrency for in-game purchases has announced it is collaborating with a fantasy sports giant and offering free tournaments to mark the World Cup.

GameCredits is teaming up with FanDuel, a large daily fantasy sports company, and says the competitions will run throughout the major sporting event. As well as $35,000 in cash, the prize pool also offers $100,000 worth of GAME – the platform’s cryptocurrency.

It is hoped that the fantasy football tournaments, which commence on June 14 and run until July 15 – the date of the World Cup final – will help introduce a whole new audience to the GAME currency.

The company says it has long wanted to break into the world of fantasy sports – especially since Matt Fortnow joined its team. GameCredits says he created the very first site in this now bustling marketplace all the way back in 1999 and ended up selling the company to CBS, the US entertainment giant.

After news of the collaboration emerged, Mr Fortnow said: “Working with FanDuel presents an exciting opportunity to establish a presence among fantasy sports users and to continue to grow awareness for GameCredits globally.”

According to GameCredits, FanDuel has built a community of more than 6 million players since launch, generating more than $4.5 billion in payouts to its community.

“By gamers, for gamers”

GameCredits offers a suite of products designed to cater to developers, as well as the gamers they wish to reach with their titles.

Among them is GPlay, a gaming store where developers receive 90 percent of the revenues generated from sales as well as in-game content. The company says this figure is substantially more than the market average, as the likes of Google Play and Apple’s App Store take as much as 30 percent commission when purchases are made.

Players also have the chance to earn GAME currency through an app known as GShare. Here, gamers lease the unused GPU and CPU cycles in their PC, earning crypto in the process. From here, the funds can be used to purchase “the best, newest and most popular PC games” – often at a discount.

This is coupled with GWallet, a universal wallet which is designed specifically for buying games and purchasing extras in play.

Now a 100-strong team with team members in Russia, Serbia, India, the US – GameCredits says the company’s founders are “first and foremost gamers” who are determined to change the industry for the better. They argue that gaming has been unfairly dismissed as a waste of time, when in fact it can relieve stress and be used as an educational tool.

Benefits for developers and gamers

GameCredits says its ecosystem benefits developers by ensuring they receive payments faster. Whereas some platforms impose a 60-day waiting time before remuneration is delivered, the company says its creatives can expect compensation to arrive within 60 hours instead.

The young company, established in 2016, also hopes to boost the revenue potential of developers by introducing “limitless deposits,” helping earnings to rise substantially. At the same time, it believes its blockchain technology will help cut the levels of fraud seen when virtual transactions are being made.

The platform also aims to enhance the purchasing power of players by ensuring that the credits earned in one title can be easily transferred to another through the universal wallet.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Turkey: Football Chairman ‘Proud’ To Hire Player For Bitcoin In New First

Turkish football team Harunustaspor announced Tuesday, Jan. 30, that it will pay a player partially in Bitcoin (BTC), local news outlet CNN Turk reports.

As chairman of the amateur club Haldun Şehit told CNN Turk, the move was completed to hire 22-year-old Omar Faruk for 2000 lira ($528) in BTC and 2500 lira ($661) in cash.

The move is likely a first in semi-professional sporting circles for player hiring. It follows a bigger move in December in which Bitcoin Suisse opted to pay Denmark club Rungsted Seier Capital’s top player exclusively in Bitcoin, as part of a three-year sponsorship deal.

Referring to the latest move in Turkey, Harunustaspor’s chairman stated:

“We did it to make a name for ourselves in the country and the world… We are proud of this.”

The news from Turkey marks the third announcement concerning the sporting world and Bitcoin since December. Earlier this month, Dallas Mavericks owner Mark Cuban noted on Twitter that next season fans would be able to purchase tickets with Bitcoin.

In related news, UK premier league club Arsenal announced it would shortly begin its own sponsorship deal with a US sports betting website’s forthcoming ICO.

At the same time, the regulatory situation surrounding cryptocurrency in both Turkey and Denmark remains precarious.

Late last year, the Turkish government suggested to citizens that use of cryptocurrency was “not suitable” for Muslims as the government could not exert sufficient control over its use.

In Copenhagen meanwhile, central bank chief Lars Rohde described Bitcoin as “deadly” and recommended citizens “stay away.”