What is Juventus Fan Token?
This blog post will cover:
- What is Juventus Fan Token?
- Where did Juventus Fan Token come from?
- What are the advantages of Juventus Fan Token?
- What are the disadvantages of Juventus Fan Token?
- How to buy Juventus Fan Token on SimpleSwap?
What is Juventus Fan Token?
JUV is a fan token of Juventus Football Club. The token was created on the Socios platform and runs on the Chiliz Chain. Chiliz is a sidechain of the Ethereum network and uses the PoA (Proof of Authority) algorithm. Socios is responsible for the issuance, transaction processing and overall performance of the token. However, Juventus Football Club strictly regulates the issuance and allocation of JUV, as well as the list of products available to owners.
JUV owners can participate in draws to get free tickets to club games, take part in a token hunt to earn more JUV, or buy official club merch and invitations to Juventus events (such as an arena tour on the Allianz Stadium, which is the official team base). However, the privilege to vote on issues important to the club is the main driver to acquire a token. It is voting that turns fans into full-fledged community members. Juventus is obligated to honor all decisions made by token owners.
Socios has announced the stacking feature for JUV and other fan tokens. This will give fans the ability to earn CHZ tokens.
Where did Juventus Fan Token come from?
Juventus made an announcement about fan tokens in September 2018, but the distribution through FTO took place a year later in November 2019. 1 315 907 JUV were distributed to fans via fan token offering. Juventus has promised to issue 2.5 million tokens each year, starting in April 2020. The club plans to distribute all tokens by 2028.
What are the advantages of Juventus Fan Token?
- VIP status
JUV holders stand out in a special category of VIP fans, who not only participate in the life of the club but also get access to unique events. So, there are virtual "badges" and other bonuses that are raffled among JUV-fans.
What are the disadvantages of Juventus Fan Token?
Part of the fan community raises concerns about the high degree of centralization of the token. These fears are reinforced by the fact that Juventus sets the rules for the issuance and distribution of tokens. In other words, although fans have been given some authority and voting rights, they remain dependent on the club's management.
How to buy Juventus Fan Token on SimpleSwap?
If you are thinking of supporting Juventus Football Club and becoming the JUV holder, just go to the SimpleSwap service and follow these steps:
- Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
- Select JUV in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
- Click the Exchange button.
- Enter the Recipient's Address. JUV will be sent to this address. Be careful and make sure you use the correct address.
- Create the exchange.
- You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.