Sports as an industry has realised the potential that cryptocurrencies and blockchain technologies can bring to further monetise fan engagement, attract sponsors and engage a global market in ways that were unimaginable decades ago. Passionate fans, each a citizen of digital technology, consume sports and related content beyond the actual duration of a match. Teams, clubs and sporting bodies are innovating to survive in the new digital age and meet fan expectations.
Cristiano Ronaldo became the first soccer player to be rewarded for his career achievements in cryptocurrency, after the Juventus F.C. star received 770 JUV tokens — one for each senior career goal scored, as reported by Spanish outlet Marca.
JUV is the official Juventus fan token, launched in 2019 by the Italian football club on the Chiliz (CHZ) blockchain, in conjunction with the Socios.com platform. Fan tokens give club supporters the chance to vote on club decisions, while giving them access to various perks, competitions and prizes.