Newcastle United and Cardiff City plan to launch their own cryptocurrency.

Newcastle United and Cardiff City, two English Premier League football teams, would consider issuing an ICO as a means to obtain additional funds to improve their squadrons and remain in the English league’s first division.

The two clubs would be in talks with SportyCo, a startup focused on the application of blockchain solutions for the sports sector.

The interest of the clubs is to develop their own cryptocurrency and use the SportyCo ‘platform to launch an ICO that allows fans and investors to acquire different cryptographic assets that they can then commercialize when the transfer market opens. In this way, both teams could increase their economic resources while fans can also make a profit.

The commercial movement of both teams is not the first of its kind. There have already been other clubs that have ventured into the use of cryptocurrencies to obtain financing

The Brazilian Serie B team, Avaí, became last week the first club to launch its own cryptocurrency in an agreement negotiated by SportyCo and the sports investment company Blackbridge. Avaí aims to raise $ 20 million (approximately £ 15.3 million) next month through a chip sale, which investors can negotiate to buy tickets and club merchandise. Paris Saint-Germain has also announced similar plans. The clubs of the Premier League will monitor the results with interest

In addition to the clubs, there have been players who also bet on crypts not only to improve the economic aspect but also to create new ways of interacting with the public.

Ronaldinho Gaucho, who is also part of the SportyCo team, announced the launch of the Ronaldinho Soccer Coin (RSC) project as a platform through which an e-Sports betting site, a Digital Portal, an academy, a Superleague e-Sports and other services associated with the sports area are linked.

In addition, Carles Puyol and Andrés Iniesta, two Barcelona FC players, announced the creation of a project called Olyseum, which seeks to promote the interaction between players and fans through a system that allows accurate verification of identity.

So far there are no details about the ICOs of the British clubs; However, it is expected that by the next year both projects will be fully functional and some initiatives based on blockchain technologies will begin to bear their first fruits.

Source:  TheTime, FoxSports

Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and / or services. This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest.

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