Binance, one of the most popular cryptocurrency exchanges in terms of volume traded, has recently signed a sponsorship agreement with the Argentinian Soccer Association (AFA). This allows the firm to become the primary sponsor of all Argentinian soccer teams on a global scale. According to the reports, the arrangement is the exchange’s first with a global national team and will operate for five years.
The agreement aims to boost the brand by partnering with one of the most successful soccer clubs in the world, introducing crypto to users and fans who would not have been exposed to these technologies otherwise.
The signed partnership also involves the development and launch of a new fan token, which will be available in the near future. However, the Argentine Soccer Association had previously created its own 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 coin. According to sports media reports, Socios rejected this new contract, which was issued barely nine months after they had signed a three-year pact with them.
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