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August 9, 2022
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Cristiano Ronaldo receives JUV tokens as a reward

Cristiano Ronaldo became the first football player to receive tokens as a reward for his career achievements. A report by Spanish channel Marca said the Juventus FC star received a total of 770 JUV tokens.

According to the report, the cryptographic reward represents each goal of his career – a JUV token for each goal. The 770 JUV tokens were awarded to Ronaldo before the Juventus game against Benevento, on March 21.

Cristiano Ronaldo receives reward in JUV Tokens

The JUV token is currently trading at $ 15.41, down 13.08% over the past 24 hours. At the current trading price, Cristiano receives $ 11,588 JUV tokens.

The token cost $ 2 at the time of its 2019 launch on the Chiliz blockchain (CHZ) in collaboration with the Socios.com platform. The growing connection between sports and cryptocurrencies is not a new trend. In 2018, Turkish football team Harunustaspor announced plans to play with a player in Bitcoin and fiat currency. Quoting club president Haldun Sehit, Cointelegraph said the plan was to pay 22-year-old player Omar Faruk for 2,000 lire in BTC and 2,500 lire in cash.

Since the start of the Chiliz blockchain, several football teams have issued fan tokens on the platform. These teams include Barcelona, ​​Manchester City and Paris St. Germain. Fan tokens allow fans to have the opportunity to vote on club decisions and give them access to special benefits and prizes.

Chiliz grows amid popularity of fan tokens

As several soccer teams use the Chiliz blockchain, the buzz generated an increase in the price of the native token. The dollar value of CHZ has increased by more than 2,500% since the beginning of the year. In addition, CHZ’s market value skyrocketed from $ 100 million to $ 4.5 billion, after which it dropped to around 3.2 billion.

At the time of this writing, Chiliz’s market capitalization was currently down 1.26% to $ 3.116 billion. The token is trading at $ 0.5552, down 1.26% in the past 24 hours.

Coinspeaker revealed in a report on March 10 that Chiliz exceeded $ 1 billion in market capitalization due to the growing demand and popularity of fan tokens. The Chiliz blockchain helps sports teams launch their virtual tokens, which allows clubs to generate funds. Token holders have access to decide on shirt designs and other management decisions.

Recently, Chiliz launched the AC Milan fan token on the Binance bag. Within 30 minutes of launch, the company generated about $ 6 million.

In an official report, Chiliz said Fan Token recorded $ 30 million in revenue for clubs and partners last year. The company added that the market value of the Fan Token is about $ 194 million.

Source: Coinspeaker.com

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