The Brazilian Football Confederation (CBF) closed an agreement with a Turkish blockchain company, Bitci Technology, aiming at the launch of a cryptocurrency and non-fungible tokens (NFTs) linked to the Brazilian team.
According to CBF, the partnership is valid for three years and both the tokens and the cryptocurrency will be traded by Bitci. In a statement, the organization revealed that the contract includes the main and junior men’s and women’s selections.
“The NFTs will be developed for the Brazilian team and its players on the Bitci technology infrastructure and will be available for sale soon. The agreement includes the Brazilian men’s and women’s soccer teams, as well as the under-20, under-17 and under teams -15. During the term of the contract, Bitci Technology will be the only business partner related to the blockchain technology of the Brazilian soccer team”, stated in the statement.
Onur Tan, CEO of Bitci, celebrated the agreement with the only five-time champion team on the planet: “With this important cooperation, we are very happy to bring our technology to South America. According to independent research, we are proud to be the the only business partner in the blockchain area of the Brazilian team, which is among the most watched brands in the world”.
Tan added: “We hope this cooperation will lead to even more success. We are looking forward to bringing our fan token projects and NFTs, which we will implement in the next period for Brazilians.”
In addition to Brazil, other teams and clubs are betting on the NFTs
However, the Brazilian team will not be the first to create a token for its fans in world football. The company itself, Bitci, already has a similar contract with the Spanish team.
It’s worth remembering that Argentina recently announced an agreement with Chiliz, also designing the token release for their fans. Chiliz is the same organization that has business involving digital assets with Corinthians.