The ICO fever takes over a football team in Brazil

For Brazil, football more than a passion has already become part of the country's culture. Although the last performances of the selection in the past World Cups have not been as spectacular as those that are historically remembered, the nation continues to form great teams and players. Now, one of the clubs wants to unite tradition with innovation by launching its own Initial Coin Offer (ICO, for its acronym in English).

Avaí Fútbol Club, a team based in Florianópolis (southern Brazil), which plays in the second division of the country's league, announced that it plans to become the first sports institution in the region to use an ICO to raise funds.

In partnership with SportyCo and Blackbridge, they hope to join the wave of innovation represented by Blockchain and cryptocurrencies, launching their own token called "Avaí FC Token".

According to a statement from the institution, "fans and fans around the world will be able to be part of the vision and the new journey that the Avai FC Token aims to establish, bringing more and more football to the world of technology and turning it into a more interactive club. "

The club says it is eager to become the first football team to launch its own utility token, which will help the entire sports industry that, in their eyes, has been left behind in the area of ​​innovation with fintechs and these disruptive technologies.

So much so that the co-founder of SprotyCo, Marko Filej, said they were "opening a new chapter in football and the sports industry in general," reports Infobae.

"In the Avai FC Token project, utility Tokens will be issued, which work in the same way as a discount voucher, which has a predetermined initial value that, if all the execution phases described in the WhitePaper are successful. of the project, can be valued and negotiated freely by its owner with other interested parties, "the statement said.

Francisco José Basttistotti, president of Avaí, firmly believes that the club has a global fan base, and that the Initial Currency Offer will help support it.

"With our ICO, we are actively looking forward to reaching a global football fan base, and we are attentive to everything that surrounds the Avai environment in Florianópolis and Brazil."

He also added that "that is why we are working together in the direction of seeking our objectives, that is, making the club a stable member of the Brazilian Serie A Championship and reaching the Copa Libertadores".

The official sale of the Avai FC Token will begin on October 3 and end on November 3, during which time fans can purchase the token.

The Avai Club hopes that the launch of its token will inspire other sports entities, and that they join their initiative to "provide financing for their sports activities in this new way".