Brazilian Premier League club Atletico Mineiro has launched a crypto token for fans called ‘Galo Coins’. This move makes Atletico Mineiro the first Brazilian football club to launch a blockchain-based crypto for payments across South America.
The coins enable fans to buy match tickets and merchandise, while also obtaining numerous discounts at the club. Fans need to buy at least 50 Galo Coins, which is approximately $13 to be able to use the tokens. The Galo Coins are priced the same as the Brazilian Real currency.
The crypto token is similar to the Foot Coin platform and allows users to exchange the Galo Coins for Ethereum tokens. Other top-flight football clubs across Europe who are currently using the same concept are Paris Saint Germain and the Italian football giants Juventus.
The word ‘Galo’, translates in English to ‘rooster’, which is the club’s mascot.