A soccer team in Brazil called Avai Football Club has declared that it is joining hands with Blackbridge and SportyCo. The club is all set to launch a new crypto ICO for the purpose of raising funds.
In a recent development, the Avai Football Club of Brazil has announced its plans to launch a new cryptocurrency of its own. Some officials of the club shared that they will launch an ICO (Initial Coin Offerings) for selling their token and raising funds for the digital currency. The soccer club has entered into a partnership with Blackbridge and SportyCo.
An investment platform for football, Blackbridge Sports, is appropriate for the fundraising scheme. Likewise, SportyCo is a community focused towards sports and appears to be a suitable fit for this new project.
Marko Filej, SportyCo’s co-founder, appeared extremely enthusiastic about the new collaboration. He mentioned that they are keen to work with the Avai FC Football Club and look forward to see how the latter launches their upcoming cryptocurrency.
The co-founder also shared that SportyCo platform has always been a key player for innovations in the field of sportsmanship, finance, and sports. With the new crypto ICO, they foresee the beginning of a fresh chapter in the world of soccer in general and football in particular, Coin Insider reported.
Avai Plans To Raise 20 Million USD
The Brazilian football club intends to sell about 20.46 million tokens through their upcoming ICO. The club will be holding 1.54 million tokens extra or about 7 percent of the entire token amount. Each token has been valued at 1 USD, which signifies that the club expects to collect 20 million USD in total, Coinwire wrote.
The club expects to raise a minimum fund of 8 million USD from their new crypto ICO. If it does not manage to raise this minimum amount, investors will get back all their invested funds.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]