CoinMarketCap takes a deep dive into Juventus Fan Token ($JUV), an Italian football team token that offers a number of exclusive benefits to its holders.
Juventus Fan Token (JUV) is a fan token offered to Juventus football club enthusiasts that grants them a tokenized share of power, such as voting rights on official club decisions, exclusive access to the Juventus team, prizes, and much more.
Juventus was the first club in the world to launch fan tokens on Socios.com in late 2019, and fans have since enjoyed a variety of club-related opportunities, including the selection of an official team bus design, a new goal song, and the opportunity to select a fan-designed 'J' icon to be transformed into a piece of official club merchandise and sold globally.
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How Does Juventus Fan Token (JUV) Work?
JUV is a utility token that works similarly to most sports fan tokens. JUV functions as a membership key, granting its holders the ability to influence and connect with the team, as well as impact decisions made at the Juventus headquarters.
Socios.com, the originator of this fan token in collaboration with Juventus F.C., hosts it on their app. This blockchain-based fan interaction platform allows users to purchase $JUZ tokens in exchange for $CHZ, their in-app (native) token.
JUV is created on the Chiliz Chain, an Ethereum-based proof-of-authority sidechain, and is primarily used as a governance token. The token holders can use smart contracts to vote on various contract-binding fan decision polls that are released by Juventus. JUV holders can receive rewards from interactions using the same app, and in the future, JUV can be staked to obtain Non-Fungible Token (NFT) benefits.
Giorgio Ricci, Co-Chief Revenue Officer, Head of Global Partnerships and Corporate Revenues of Juventus said: “Juventus is glad to welcome Socios.com to our partners. At the Club, we are always very careful and proactive towards innovation and new technologies. Together with Socios.com, we believe that we can offer new opportunities to our worldwide fan base to engage in cutting-edge way with their favorite club.”
Alexandre Dreyfus, CEO & Founder of Socios.com added: “As one of the biggest and most successful football clubs in the world, I am delighted that Juventus has chosen to work with Socios.com, and to seek the rewards that our innovative blockchain technology has to offer.”
Unique Features of Juventus Fan Token (JUV)
Fan Opinions on Official Club Decisions
JUV token holders can vote on numerous fan decision polls released by Juventus through smart contracts. Juventus is contractually obligated to act in accordance with poll findings and, although it is up to the club to organize polls, the decision made by supporters is final.
Fan Rewards
JUV token holders can earn fan rewards by taking quizzes, playing games, and voting on club decisions on the Socios.com App. The benefits can range from VIP entry to all home league, cup, or European matches to attending a game with a favorite club hero or even flying with the team to a faraway game.
Bringing Global Fan Bases Together
The Socios platform not only allows users to vote on polls, compete in contests, and take quizzes, but it also connects like-minded individuals. The JUV token allows Juventus Football Club fans to band together and take the community to the next level.
Influence With Only One JUV Token
With only one $JUV Fan Token ownership, you can begin influencing the team and gain fan rewards. However, for additional incentives, you may need more than one JUV token.
How to Buy Juventus Fan Token (JUV)?
To obtain $JUV tokens, fans must first purchase $CHZ using a cryptocurrency exchange or the Socios.com app. These tokens are a limited-edition digital asset that grants access to an encrypted ledger of voting and membership rights possession.
The best VIP advantages come to those who have a greater amount of tokens which increases their clout rating over time and moves them up through multiple reward categories. - Read more about Fan Tokens
You can only vote once on every poll, however, your voter's weight is determined by the number of fan tokens you hold. For example, if you hold ten fan tokens, your vote will be counted as ten. Each vote is limited to a certain quantity of fan tokens set by the club.
In the near future, a leaderboard feature will be implemented, where supporters will gain reward points depending on how they connect with Juventus via the app, allowing them to compete to become the number one fan in their nation. Socios.com will also have a chat function and games, along with additional features that will be announced soon.
Juventus Fan Token (JUV) Tokenomics
JUV has a total token supply of 20,000,000, of which approximately 1,315,932 have been allocated to club supporters in a Fan Token Offering. Juventus has the remaining tokens, which can be obtained by participating in community events via the Binance Launchpool, or by purchasing directly on exchanges. For more details, please read the Binance Research page of Juventus Fan Token.
Juventus Fan Token (JUV) Price
Juventus Fan Token (JUV) is now trading at $12.82, as of Nov. 15, 2021. Its 24-hour trading volume on exchanges is around USD $6,218,241.85.
Juventus Fan Token (JUV) Price Prediction
Possibly the greatest player signed by Juventus in the last decade was Cristiano Ronaldo. The former Juventus striker boasts a net worth exceeding $500 million and is hailed most often as the greatest player to ever set foot on a football field.
When Cristiano Ronaldo was playing for Juventus, he was awarded 770 Fan $JUV tokens that symbolized his record-breaking feat of 770 goals as a football striker.
After this event, the price of the Juventus Fan Token (JUV) surged and continued to hold key support levels as it broke the $25 mark again in May 2021. From there on, the bear run of the crypto market engulfed the JUV token and, currently, it is trading around $12.
It should be noted that Juventus is not a small football club. The Italian Club is the second most successful team in European competitions and ranks sixth at the global scale when it comes to overall successes. The Old Lady Juventus has two Champion League titles to its name with multiple wins in Europa League, Super Cup, and many other accolades. This huge popularity of the football club means that it has a huge following on social media and a big standing in the football community. With the right moves from Juventus’ marketing department, the price of the JUV token can surge past its all-time high of $37.83.
After making an all time high of $37.83 back in Dec 2020, JUV has fallen down. The chances of regaining and even breaking this price barrier are possible in the next bull run of the crypto market. Granted that the Italian football club might have lost their biggest marketing asset, which is Cristiano Ronaldo, to the English Football Club, Manchester United, Juventus can still find ways to market its token which can help it in its price surge.
The upcoming advancements in the world of sports are the start of crypto payments. If Juventus starts to pay its players in cryptocurrencies, especially in its native JUV token, this can increase the price of the token significantly. Furthermore, the inclusion of fan activities in player transfers can also be offered to big JUV token holders. This is a tactic to attract major investors, also known as whales, to buy the token of their favorite football team and vote for the player they like the most to their Italian football team.
In conclusion, investing and spending in sports fan tokens is considered to be the future of sports by many crypto analysts. However, no matter how good a crypto project looks, it is important to do your own research before taking any position in it.
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