Atlético Mineiro launches its own cryptocurrency

The Brazilian soccer club Atlético Mineiro has just announced the launch of its own digital currency that will be used to offer special discounts on products and services

The GaloCoin, named in the same way as the mascot of the Atlético Mineiro team, uses Footcoin, a platform designed for football teams to create their own cryptocurrencies that can be used as a means of payment within the cryptographic ecosystem.

The cryptoactives that are created through Footcoin are useful tokens, which means they represent a fixed value. A GaloCoin equals a Brazilian real. Club members and fans who want to acquire the digital coins must make a minimum purchase of 50 tokens, which are 50 reales.

The benefit of the platform is that it can be integrated into traditional e-commerce systems and by using ethereum smart contracts technology the security of transactions is guaranteed.

The administrator of the club, Plinio Signorini, states that the ultimate goal of the creation of the cryptocurrency is to strengthen the relationship between the club and its fans. He also said that his desire is that the suppliers of Atlético join and participate.

The idea that football teams create their tokens is not typical of Brazilian teams. In September, Paris Saint-Germain and Juventus developed their own tokens. Thus, the clubs are not the only ones interested in blockchain technology in the world of football.


Source: Cointelegraph

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