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SportyCo is the new fund-raising go-to for cryptocurrency

SportyCo seems to be the taste of the day of initial kick chips offerings (ICO) at the moment.

Recently, the company has partnered with Brazilian club Avaí FC. The club has joined SportyCo and Blackbridge Sport. The Brazilian club has set a goal to hold a $ 20 million USD crowdfund through a supply of coins.

Now two English Premier League clubs are trying to collaborate with the company. They also intend to keep their ICOs to raise funds. According to the Times, New Castle United and Cardiff City are also considering launching their coin offerings in conjunction with SportyCo. The report states that the clubs are in communication with the company with the intention of holding the token fundraising. This would allow fans and investors to purchase the digital token with the intention of offering a return value. If they can collaborate with SportyCo, the token will be supported by both the company and the team.

In Need of Money

According to The Mag, an independent news agency focused on issues related to Newcastle United, the club needs funds. Steven Hickey wrote about the topic:

"It is clear that everything in the club is based on the distribution of funds, for example the purchase on a payment basis, but the sale for the recovery of It does not matter, but what is true is that the team is weak, with a decent first team if they avoid injury and / or loss of shape. "

If Newcastle needs money, an ICO could be a risky way to conduct a fundraising. Even with large brands, ICOs are notoriously unpredictable. Investors are constantly urged to pay close attention to projects.

We contacted the clubs for comments and received no response at the time of writing.

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