• Crypto

Benfica enter crypto market by launching first-ever Portuguese fan token

Credit: NY Times
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The Primeira Liga giants have reached an agreement with crypto company Socios. 

Benfica have announced their plans to launch the club’s fan token in partnership with Socios.

The Eagles are the first Portuguese club to join the crypto market. They follow the example of several elite clubs across Europe, who have unveiled their fan tokens in recent months.

“Benfica is constantly searching for and delivering a positive experience to our huge global fanbase which includes both members and supporters,” said Domingos Soares de Oliveira, Benfica’s chief executive.

“We have been paying very close attention to digital assets. The market which has been influential in our industry of late. We are delighted to be partnering with Socios.com, the ideal partner for developing our tokens and for bringing the worldwide Benfica family closer together”.

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Socios provides clubs with a fan engagement platform, enabling token holders to enjoy exclusive perks. The nature of these privileges varies with different clubs. Some teams let their token holders vote on club decisions, while others have offered discounts for tickets and items in their official stores.

Earlier this week, Ligue 1 club Saint Etienne extended their partnership with Sorare (another crypto platform) for another five years. 

The deal will enable fans to directly buy the club’s NFT cards on the Sorare platform. Let’s see if Benfica will expand their presence in the crypto market by launching their own NFTs in the future.

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