Brazilian football club goes to ICO

Brazilian football club goes to ICO

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Another professional football club expressed its readiness to launch its own cryptocurrency, and also to enter the ICO. Speech about the Brazilian club “Avai” (Avai Futebol Clube), who now performs in the Football Series B, reports CoinDesk with reference to the press center of the team.

Avai wants to launch tokens in order to attract investments of up to $ 20 million and send these funds to modernize its sports infrastructure and purchase new players. The ultimate goal of attracting capital is to create the conditions under which the club will be able to break into the top Serie A, and then into the Copa Libertadores, sometimes called the Latin American Champions League.

The club plans in partnership with startups with SportyCo and Blackbridge Sports to issue 20.46 million tokens, each costing $ 1. In parallel, a blockchain platform will be developed for transactions with this asset.

Club President Francisco José Battistotti said:

“We will be the first sports team to compete on the ICO in order to attract investment. This will pave the way for us to reach a new level.”

Holders of tokens will be able to trade them on the exchange or buy tickets for them and goods related to the team, said co-founder SportyCo Marko Filej. The minimum amount of investments the club claims is $ 8 million. If this amount is not collected, the team will return all funds to investors.

Recall previously reported that the French football club “PSG” wants to launch its own token for the fans.

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