Tech Roundup: Brazilian football enters crypto game

This week. To avoid greenwashing, sustainable funds will finally have new rules in Brazil. Apps become fierce competitors of bus companies in Brazil. Brazilian football betting on NFTs. 

Brazilian football using NFTs for more revenue

Brazilian football clubs have waded into the world of cryptocurrency, following major European sides’ venture into the world of fan tokens (FTOs) and non-fungible tokens (NFTs), of which PSG, AC Milan, and Real Madrid are already major proponents.

FTOs v. NFTs. Related to cryptocurrencies, the two crypto-assets work within blockchain but have different purposes.

• A fan token is a utility asset allowing owners to have access to new features, exclusive promotions and events, and merchandise items within the entertainment or sports industry.
• A non-fungible token, on the other hand, is a unit of data that certifies a digital asset — a photo, video, or audio file, for example — to be unique.

NFTs take the field. Belo Horizonte club Atlético Mineiro was the first side in South America to enter the crypto game, launching its first two tests in May. 

• The first was a partnership with fantasy game Sorare, a blockchain platform that trades NFTs from more than 180 partner clubs in the form of electronic player cards. Then the club sold a picture of a historic moment in the team’s history, which was transformed into a NFT.
• The club also announced the launch of a digital collection of Atlético jerseys over the years and in August it raised more than BRL 4 million from the sale of 850,000 fan tokens.
• The Brazilian football confederation entered the fray in July, selling 30 million fan tokens with the Turkish company Bitci to 13,658 people and raising EUR 15 million.
• In September, it was São Paulo giants Corinthians‘ turn. The club first announced fan tokens, which were sold in a record time of two hours and for a total of BRL 8.8 million. Shortly thereafter, the team announced a partnership with Sorare and the club’s NFTs...