Libereum Seeks To Make Own Tokens The Main Payment Method In Football

Libereum Seeks To Make Own Tokens The Main Payment Method In The Football Industry

Cryptocurrency operator Libereum is breaking from tradition as far as cryptos marketing is concerned. The tech start up headquartered in the Netherlands has a mission of purchasing multiple football clubs and making its own LIBER ERC-20 token the main payment method.

Story continues below

Football is the most popular sport globally and a very rich industry for that matter. The startup is very clear in its mission to partake in the earnings of the sport through their new venture. Libereum has already raised $4 million in a private round with its ICOs yet to be announced.

Primary payment method

As stipulated on the company’s website, the Libereum mission is simple. First on their list is to purchase as many football clubs as possible. The next thing is to introduce the LIBER ERC-20 token as the main payment method. This would mean that all transactions within Libereum owned clubs will be powered by their tokens.

Fans will need tokens to purchase tickets and buy food and beverages within the stadium. During the transfer window the club will purchase players with their tokens. Likewise, other clubs looking to buy players from Libereum-owned clubs will be forced to buy their tokens to facilitate the transaction as explained in Libereum’s white paper, “If a club outside the Libereum network wants to buy a player, it will propose an offer of, let’s say, USD 10,000,000. If accepted, the Libereum club will allow the nonLibereum club to buy 10,000,000 worth of Libereum in exchange for the player.”

All players will be paid in Liber tokens as well. To boost its market estimation, the company will continually acquire more and more clubs all over the world.

It’s essentially a move to corner the market and introduce a currency in it.

More Players

Libereum is not the only cryptocurrency company eyeing to promote digital currencies through football. Quantocoin, a mobile banking application is partnering with Gibraltar FC in a deal that will see its players receive salaries in digital assets. Wolverhampton, a club in the English Premier league, will have CoinDeal’s logo embroidered on their Jersey next season courtesy of a marketing agreement reached by the two parties.

An ad to help with our costs