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September 13, 2018, 07:26:13 PM |
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Brazilian football club Avai announced plans to release its own cryptocurrency and launch a digital ecosystem for football fans. The club intends to raise funding up to $20 million. The Avai club from Brazil still plays in the b series of the Brazilian championship. But with funding, they expect to go to series A and qualify for the Copa Libertadores. "We are pleased to cooperate in this project with SportyCo and become the first sports company that will hold the initial placement of coins, showing the way to other clubs in the world to a new approach to financing this activity," - said the President of the football club Francisco Jose Battistotti. According to him, the future ecosystem is focused on football fans around the world. In order to attract funding, the club decided to hold an ICO, sell 20.46 million tokens at $1 per coin. Part of the tokens - about 1.54 coins-will be reserved by the club. ICO will start on 3 October. In the ecosystem, with the help of tokens, it will be possible to purchase tickets for sports events, paraphernalia, Souvenirs and other services and goods. Avai expects to attract at least $8 million If the club will not be able to sell as many coins, ICO will be cancelled and all money returned to investors.
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