From the ever increasing intersection of the field of sports and crypto, comes the news of the $ITA Fan Token, which will be dropped on 7th March at 14:00(CET).
Reigning European champion Italy has partnered with Chiliz, a leading blockchain provider for the sports and entertainment industry, to release these Fan Tokens through a Fan Token Offering (FTO) on the Socios.com app.
The drop will take place for three consecutive days starting on the 7th March, wherein each wave of the $ITA token drop will last for 24 hours, with a cap of 5 $ITA, 100 $ITA and 200 $ITA respectively. The max user cap is 200 $ITA with an FTO supply of 150K and a price of €2.00.
Two Fan Polls will be available as soon as the FTO starts, in which only the $ITA Fan Token holders will be allowed to vote, giving fans an opportunity to play an active role in the Qatar 2022 qualifying match that Italy will play against North Macedonia.
The token owners will also vote on deciding an inspirational message, which will be displayed in Italy’s locker room as well as select the song to be played at Stadio Renzo Barbera to celebrate Italy’s goals.
One $ITA token will be enough to vote on these polls, however, fans with more tokens will have greater influence and a greater chance of rewards.
Not only this but Socios.com has partnered with Deliveroo, the official partner of the Italian FA to reward $ITA token holders with a special treat.
Italy is not the first team to launch Fan Tokens, as Juventus FC lead the charge on this idea, dropping Fan Tokens as early as 2019. Several other clubs have followed the same path in the past three years. Football fans have spent more than $350 million dollars on these Fan Tokens until now, making it a very lucrative source of income for these clubs.