PSG will soon launch Fan Token Offering giving fans possibility to interact with the club in a unique way. However, the first football club to introduce its own cryptocurrency within Initial Coin Offering (ICO) will be Avai from Brazil. Currently playing in Brasileiro Serie B, Avai football club is launching ICO with aim raise the US $20 million.
Avai will collaborate with blockchain experts from SportyCo and football investment specialist Blackbridge Sports. AVAI Token will go on sale on 3 October with the price of US $1 per token, with a month time for ICO. Their goal is to raise the US $20.46 million, with a minimum cap of US $8 million. Exactly 20.46 million tokens (93%) will be available on ICO. Avai FC will retain a maximum of 1,540,000 AVAI Tokens (7%).
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In addition, if during ICO club raises between $8 million and $20 million, but do not reach $20 million goal, all unsold tokens will be burned. AVAI Token will find its place on several cryptocurrency exchanges and will be available for trading.
Football Club: From ICO to Serie A
By organizing ICO, Avai’s goal is to reach the highest tier of Brazil football league, Série A. Furthermore, ICO success would be a boost for Avai’s ambitions to get into qualification for the famous Copa Libertadores.
Avai president Francisco José Battistotti said that ICO would open a new chapter in football and the sports industry in general. By using tokens fan will be able to purchase tickets and club merchandise. In addition, ICO could boost Avai’s brand and reach a global football fan base.
Founded in 1923, Avai has won a number of local state championships as well as spending a couple of years in Brazil’s Serie A.