The cryptocurrency market for sports is expanding significantly in Brazil and elsewhere. Most of the blockchain solutions adopted by clubs aim to increase fan engagement with the organization and offer products or services that serve as another form of interaction. Recently, Socios.com said it would launch Fan Tokens with MMA, Dapper Labs launched NBA’s Top Shot blockchain app, and PSG signed with Sorare for blockchain collectibles. On the other hand, Vasco’s project is more focused on using tokens as a means to raise funds and enable regular fans and the public to invest in the club.
The football club had been working with KPMG since 2018 on the possibility of using cryptocurrency. Conversations with MBDA began earlier this year regarding structuring, digitalizing, registering, and tokenizing blockchain assets. The partners expect that the tokens will be available for transaction in the Marcado Bitcoin’s platform by the end of 2020.