Binance becomes the main sponsor of the Argentine Football Association -
Binance becomes the main sponsor of the Argentine Football Association -
The cryptocurrency exchange Binance has signed a partnership agreement with the Argentinian Football Association (AFA), one of the largest football associations in the world, to become its main sponsor. With this deal, Binance will be the main sponsor of all Argentine national soccer teams for the next five years and will spend a new fan token. The AFA previously issued such a asset in partnership with Socios, another fan token platform.
Binance signs sponsorship contract with the Argentine Football Association
binance, one of the leading cryptocurrency exchanges based on traded volume, has signed a sponsorship contract with the Argentine Football Association (AFA), which enables the company to become the main sponsor of all Argentine football teams worldwide. The deal is the first to sign the exchange with a global national team and will take five years according to the shared information.
The deal aims to promote the brand with one of the most successful football teams and to bring crypto users and fans who may otherwise not have familiarized themselves with these technologies. Maximiliano Hinz, director of Binance Latam, explained:
By this agreement, we hope to support Argentine football at all levels and football fans across the country and all over the world Binance to present the crypto world and the blockchain.
incoming fan token and legal steps
The signed partnership also includes the development and introduction of a new fan token that is to be published in the near future. However, the Argentinian Football Association already in cooperation with socios.com, a fan-token company, has its own fan token published. This confused the fans of the national team and led to an influx of purchases of the previously issued tokens.
The edition of the new token was criticized by the Socios platform, which published a press release in which it announced its attitude to this new agreement that the AFA signed with Binance. According to Sport media, Socios rejected this new contract, which was concluded with them only nine months after the signing of another three -year contract. Socios.com explained
We will do everything in our power to prevent this and to protect the rights of fans who bought $ Arg-fan tokens. We are faced with a blatant breach of contract and will take all the necessary legal measures to ensure that AFA fulfills the obligations received with Socios.com. The first token was introduced on June 15 of last year and sold more than 400,000 tokens at the time. What do you think about the deal between the AFA and Binance? Tell us in the comment area below. Bedy verification : Shutterstock, Pixabay, Wikicommons 