Digital Currency Revolution Series: Argentina Soccer Federation Unveils Native-Crypto To Assist Esports Venture

As the budding technology blockchain evolves, we witnessed application of technologies in various walks of our lives. What’s buzzing around crypto-universe when it comes to sports and technology? In the recent trends, it’s been noticed that both sports and technology are complimenting each other segment. 

While the pioneer cryptocurrency, ‘Bitcoin’ and other majors have struggled to exhibit revival in its volume and bullish momentum, as it fell below the $10k mark, a level which the dominant cryptocurrency managed to sustain for several times in the recent past. The bearish rout throughout 2018 might have subdued investors’ interest in the cryptocurrency industry, that seems momentary. However, this has not clogged the reputed ones from the gamut of sport flirting with the technology. 

For now, Argentina's football federation (AFA) is launching its native cryptocurrency by the name of AFA Virtual Coin (AFAVC) which is designed to assist the objective of expansion plan of the soccer federation’s ‘esports venture’. Although , specifics/intricacies are currently unavailable, the league appears to be intending to utilise funds raised from the sale of the token to finance certain operations.

Argentina Football Association has formally announced the launch of its very own cryptocurrency for its virtual league. With that objective, the creation of the AFA Virtual Coin (AFAVC) has been announced that is the resemblance of Ethereum's ERC-20 protocol-driven cryptocurrency. 

The AFA describes the coin as an “investment that is part of the development of the AFA Virtual League platform, which in the future, will help finance projects” for its non-virtual counterpart. The token would be utilized to mainly support interactions on the federation's esports platform.

Well, other celebrity soccer clubs to get involved with digital assets in some capacity is top division French football team Paris Saint-Germain (PSG).

Likewise, Argentinean and FC Barcelona star footballer, Lionel Messi endorsed a blockchain-powered smartphone startup that is likely to assist Andhra Pradesh (a province in India) building its new smart capital. He had also claimed that in a promotional post on behalf of one company that he had been "digging deeper into blockchain and decentralized systems".

The endorsements from footballers has increased in the recent years including Luis Suarez, Luís Figo and Brazilian Ronaldinho.