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Argentine soccer giant River Plate will have its fan token

Club Atlético River Plate, one of the most important in Argentina and in South American football, will have its fan token in the near future. This cryptocurrency will allow fans to obtain exclusive benefits and participate in official voting on the platform that distributes them.

Although there was still no official confirmation on the matter, it was learned that the club signed a contract for $ 20 million with a duration of four years. This was reported by the sports newspaper Olé, an Argentine benchmark in this area.

Other national media detail that the company owned by HX Entertainment will start selling the fan tokens of the “millionaire” team from January 2022. In addition, this commercial agreement It also involves displaying your advertising on the main team’s jersey and the club reserve.

In january River had already joined the fantasy football platform Sorare. In this way, fans could acquire trading cards from their players based on Ethereum, which, in turn, score points in an internal soccer league among users of the platform.

The bid for River’s fan token

What has not yet been known is which company will create and market River’s virtual currency. The aforementioned media details that Socios.com and Binance are the ones who bid to keep this initiative of one of the giants of Argentine soccer.

Although these are only rumors, the country’s sports media claim that Socios.com would have kept the deal. This company has a lot of participation in Argentine soccer. As . reported, it is an official sponsor of the Argentine team (and it also has its token), it gave the name to the tournament that is currently being played and has already created the fan tokens of two other important clubs, Racing and Independiente.

River Plate, from Buenos Aires, plays its home games at the Monumental Stadium. Source: cariverplate.com.ar.

Binance, for its part, recently debuted in the fan token industry. This happened in Italian football, starting from a partnership with SS Lazio, one of the most popular teams in the country. On Saturday, October 16, in the match in which the Romans beat Inter, the last Serie A champion, the exchange debuted as the main sponsor in the light blue jersey.

Fan tokens join River’s successful present

This addition to the world of sports tokens is by no means minor. Besides being one of the two most popular teams in Argentina along with Boca Juniors, River is going through the best sporting moment in its history, something that, of course, greatly increases the value of their contracts and the media attention they receive.

At present, the team from the Núñez neighborhood leads the Argentine championship with a wide advantage over the second. There are only 7 games left and River could become champion several dates before the end of the contest.

In addition, internationally the millionaire group has had outstanding participation. He was champion of the Copa Libertadores de América in 2015 and 2018, a finalist in 2019 and a semifinalist in 2017 and 2020.

However, both the pandemic and the country’s economic situation have hit the institution’s finances, so this new way of generating income comes at a good time to support the sports project.

About the author

Donna Miller

Donna is one of the oldest contributors of Gruntstuff and she has a unique perspective with regards to Science which makes her write news from the Science field. She aims to empower the readers with the delivery of apt factual analysis of various news pieces from Science. Donna has 3.5 years of experience in news-based content creation, and she is now an expert at it. She loves journalism, and that is the reason, she moved from a web content writer to a News writer, and she is loving it. She is a fun-loving woman who has very good connections with every team member. She makes the working environment cheerful which improves the team’s work productivity.

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