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Argentine Football Association Launches Its Own Cryptocurrency for Virtual League
20 May 2020 18:00, UTC
By Anna Martynova
A few days ago, the Argentine Football Association officially announced the launch of its own cryptocurrency for its virtual league. AFA virtual coin is an ERC20 token that runs on the Ethereum blockchain. The league has allocated $ 1 bln and plans to sell each token for the dollar.
Fans of Argentina football have the opportunity to buy these tokens using credit cards, bank transfers, as well as using Bitcoin and Ethereum. The Association plans to use the funds received from the token sale to improve and build stadiums, and develop players. The AFAVC will be used to “power” certain services on the e-sports platform. However, the Association has not yet provided details about what services will be.
According to the official FAQ, AFAVC users will be able to transfer the token to any exchange, company, government or private person with an ERC20-compatible wallet. The Federation also said that the leading cryptocurrency exchanges list the AFAVC as soon as possible.
Image courtesy of Bittimes
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