Argentine Football League to launch fan token for national league
The Argentine Football Association is to launch a fan token in a newly announced five-year partnership with Binance
Football fan crypto tokens are a growing trend among football clubs, with some of the top European teams already leading the way, such as PSG and Barcelona FC. These tokens can give fans voting rights on club decisions, such as choosing new kit designs and the naming of stands in their club’s grounds
The sponsorship deal will involve both the Argentine national team, featuring Lional Messi, as well as Argentina’s football league and is expected to last for 5 years. In an official statement, Binance said that the new fan token will be launching “shortly”.
The deal reflects the growing prominence of crypto firms entering the sports world. Last week, Crypto.com signed a five-year $25 million deal with the Australian football league, outbidding the previous deal held by car maker Toyota. Lionel Messi, debatably the best player in the world and a possible mascot for the new token, agreed to be paid part of his salary in PSG tokens when signing a deal with the club last year.
Binance’s deal sparked backlash from Socios.com who have launched legal action against the Argentine FA, alleging they signed a deal with the league to create a fan token in May 2021. In a statement, the company said they would “do everything in our power to prevent this and to protect the rights of fans who purchased $ARG Fan Tokens.”