Argentina's football scene takes a major turn by tokenizing training
Fans can directly invest in their favorite stars and reap rewards from trades
The crypto scene in Argentina has been steadily rising and evolving. In fact, a recent report revealed that the country's cryptocurrency value sits at $91.1 billion—making it the leader in the entire Latin American region.
Apparently, crypto adoption is stealthily making its way into different sectors and industries across the country. This time, it has invaded Argentina's crowd-favorite sport: football.
According to reports, the Association of Football of Argentina (AFA) has shaken up the country's football scene by implementing a revolutionary system: tokenizing the training rights of players. This innovative move was executed in partnership with WIN Investments, a blockchain-powered fintech ecosystem that aims to transform sports investments.
Argentina's bold move to tokenize training rights of football players unlocks opportunities for fans to directly invest in their favorite stars. What's more, fans may also reap rewards from trades.
AFA president Claudio Fabian “Chiqui” Tapia explained in a translated X post that “This innovative strategy allows anyone to support and invest in their favorite players and earn profits as they succeed, quickly generating resources for the training clubs by democratizing the process.”
Esta innovadora estrategia permite que cualquier persona pueda apoyar e invertir en sus jugadores preferidos y obtener ganancias a medida que estos triunfan, generando, rápidamente, recursos para los clubes formadores mediante una democratización del proceso.
— Chiqui Tapia (@tapiachiqui) October 3, 2024
With this system in place, clubs may tokenize their recruited players’ training rights. In essence, this allows virtually anyone to purchase football player tokens. The mechanism ultimately paves a new path that allows fans and sports clubs to earn money, as bets are placed on selected picks. The approach is implemented to remove agents, entrepreneurs, and other intermediaries.
While this move is truly revolutionary, it is not the first attempt for blockchain to be integrated in Argentina’s football industry. In fact, the Argentina national football team has its own official fan token called ARG, making them the first national team to have their own token.
ARG allows fans to vote on different matters, such as the songs to sing as the team scores and how the bus, uniforms, and locker room should look. Token holders also get to access VIP services, tickets to team activities, and other perks.
🇦🇷One passionate nation. One Official Fan Token.
— Socios.com (@socios) May 13, 2021
We are proud to announce @Argentina as the first national team to join the https://t.co/2FROhSNgw8 platform.$ARG ⚡ $CHZ pic.twitter.com/HxG0TWQOkT
