Binance, one of the most popular cryptocurrency exchanges by volume traded, has inked a sponsorship contract with the Argentinian Soccer Association (AFA). That’s, making it the official sponsor of all Argentinian soccer teams worldwide. According to the information supplied. Of course, this is the exchange’s first partnership with a global national team, and it will last five years.
The partnership aims to boost the brand by partnering with one of the most successful soccer teams in the world. Thereby, bringing cryptocurrency to users and fans who might not otherwise be aware of it. Binance Latam’s Director, Maximiliano Hinz, stated:
“Through this agreement, we hope to support Argentine soccer at all levels and introduce Binance,”
” the crypto world and the blockchain to soccer fans across the country and the world.”
The agreement also includes the creation and launch of a new fan token, which will be available in the near future. The Argentinian Soccer Association, on the other hand, has already released a fan token in collaboration with Socios.com, a fan token startup. This perplexed national team fans, resulting in a surge in sales of the previously issued token.
The Socios platform, which released a press release declaring its view on the AFA’s new arrangement with Binance, opposed the launch of the new token. Socios, according to sports media, turned down this new deal, which came just nine months after they inked a three-year pact with them. According to Socios.com:
“We will do everything in our power to prevent this and to protect the rights of fans who”
“purchased $ARG Fan Tokens. We are facing a flagrant breach of contract and we will take all the necessary”
“legal measures to guarantee that AFA fulfills the commitments acquired with Socios.com.”
The first token was released on June 15 of last year, with over 400k tokens sold at the moment.