Avaí FC Token Crowdsale has ended

Alas, it wasn’t meant to be. The AVAI Token Crowdsale has ended after a strong showing, as it failed to reach the soft-cap.

Setting up an ICO under current circumstances in the cryptocurrency world is almost a mission impossible – investor confidence is low, the crypto market cap is lower than any time in 2018 and everyone is hodling and waiting for the storm to pass.

We knew we were facing an uphill battle when we started this project, and in the end we have to wrap it up a bit short of our goal — with over $5 million contributed, with a large number of small investors participating, and with putting both Avaí FC and SportyCo on the radar of several hundred news outlets all over the world — so a lot of good came from this project, even if the end result is not perfect.

What’s next?
For crowdsale contributors: As the soft cap wasn’t reached, all funds contributed will be returned to the contributors. Information on the return process will be sent out to everyone in the next days.

For Avaí FC: Four more games before the end of the season Avaí FC is in a good position to fulfill their season goal – return to the top flight of Brazilian football! Fingers crossed!

For SportyCo: We’re really happy to have been a part of this historic project – the first proper cryptocurrency project by an established sports club. And next we will focus on the imminent launch of our upgraded platform, and we have, as always, some ideas for new exciting activities connecting sports and crypto.

Link to blog post here.