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Newcastle and Cardiff may launch currencies

Cardiff City and Newcastle United are considering launching their own cryptocurrencies. Both clubs are involved in talks with SportyCo, a micro-financing and crowdfunding company about holding an Initial Coin Offering (ICO).

This would enable fans or investors to buy the new currency in the form of tokens in the hope of securing a future return, as well as providing an additional revenue stream.

The Brazilian Serie B team Avia last week became the first club to launch their own cryptocurrency: SportyCo ICO

The club aim to raise around £15m through a sale of tokens which can be used to buy tickets and club merchandise. Paris Saint-Germain have announced similar plans.

Cryptocurrencies are all the rage and fans may want to take part as a way of supporting their club and facilitating club-related spending. If viewed as an investment, they are high risk and independent financial advice should be sought.

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