Cristiano Ronaldo, the soccer star, became the first soccer player to be rewarded for his career achievements in cryptocurrency, as he received 770 JUV tokens, one for each senior career goal scored.
It has been reported that fan tokens give club supporters the chance to vote on club decisions while giving them access to various perks, competitions, and prizes.
However, the bounty of 770 JUV tokens awarded to Ronaldo prior to Sunday’s league match against Benevento, is worth around $11,750 based on the current token price of $15.26. The JUV token was originally priced at $2 upon launch.
The report said that while the former Manchester United and Real Madrid star probably won’t need the funds any time soon, the occasion signifies the first time cryptocurrency has been awarded to a football player as a prize for career achievements.
The growing connection between sports and cryptocurrency has seen several clubs flirt with the notion of paying players either wholly, or partly, in cryptocurrency for some time now.
Launched in 2019, JUV is the official Juventus fan token by the Italian football club on the Chiliz (CHZ) blockchain, in conjunction with the Socios.com platform.
Thus, the value of the Chiliz native token (CHZ) has responded to the flurry of activity initiated by various soccer teams in recent times. Since January 1 alone, the dollar-value of CHZ rose over 2,500%, while its market cap shot from $100 million to $4.5 billion, before falling back to the $3.2 billion range.