Brazilian football club Avai launches ICO
Brazilian football club Avai Futebol Clube has just announced the launch of its initial coin offering (ICO) with a $ 20 million goal in capital raise.
According to Inside World Football, on September 12, the second division soccer team reported it has just partnered with blockchain firm SportyCo and football investment specialist Blackbridge Sports, in order to carry out its fund raising campaign, becoming yet another sport team recurring to blockchain technology and this crowdfunding modality to fulfill its financing purposes.
Our goal is to raise $20.46 million US dollars, with a minimum cap of 8 million dollars. A maximum of 20.46 million tokens (93%) valued at $1 will be available for purchase in the Crowdsale. A maximum of 1,540,000 AVAI Tokens (7%) will be retained by Avai FC, the club stated.
Marko Filej, co-founder of SportyCo, commented that the AVAI token the name given to the clubs native cryptocurrency will be used for the acquisition of exclusive merchandise and several other benefits.
With this initial coin offering we are opening a new chapter in football and the sports industry in general
in the beginning token holders will be able to purchase merchandise, tickets and unique experiences with the token. In the future this will be upgraded, Filej said.
For his part, the president of the Avaí Futebol Clube Francisco José Battistotti, was pleased with the idea of an ICO for fundraising: