It feels like through August, with the start of the football season and of course, the end of the FIFA World Cup, football related news has slipped into the cryptocurrency headlines at a stunning rate. We are seeing an awful lot of examples were cryptocurrency is being used within football, generally for advertisement and sponsorship. According to Forbes though, the crypto sphere has gone one step further into the beautiful game’s territory, after the purchase of Italian Serie C football club, Rimini FC 1912. The significant thing here is that the purchase has been made through cryptocurrency. Not with Bitcoin, instead, the purchase has been made through an altcoin by the name Quantocoin.
According to reports, Quantocoin have used their native token, ‘Quantocoin’ to purchase around 25% of the club. According to Forbes, Pablo Dana, a partner at Quantocoin has said:
“The purchase will be the first of many that his firm wants to make in the industry. He believes cryptocurrency offers a unique opportunity to fight corruption in a sport which has been rocked by a number of high-profile scandals involving cash, such as the accusation that Qatar bought votes as they won the right to host the World Cup in 2022.”
It does seem that this is the first of many acquisitions that Quantocoin plan to make. Of course, Rimini FC 1912 aren’t notoriously the biggest team in Italy, nor are they well known across Europe, but, this could be the start of a new type of investment, once that see’s cryptocurrency used more regularly in football purchasing. Quantocoin aren’t exactly going to use their tokens to purchase Real Madrid any time soon, but going forward, this could materialise into a project that allows people to invest in football teams through cryptocurrency. Moreover of course, it could inspire some generic cryptocurrency interest from large institutions that operate within the football industry.
Furthermore, according to Forbes, Dana has added:
“We are working exactly on the ideas that UEFA want to put into place. This is transparency in football and we are looking to reduce corruption through our Quantocoin platform.”
Clearly, this is about more than just cryptocurrency adoption, Quantocoin want to use this platform to improve the entire industry for everyone involved. The future in football, could be in crypto too.