The Brazilian soccer club Vasco da Gama signed a deal with MBDA (Mercado Bitcoin Digital Assets) for a tokenization project. Each token will correspond to a portion of the transfer fees relating to12 players educated and trained in Vasco’s academy. The project aims to offer fans the opportunity to contribute financially to the club and enable token owners to obtain financial returns relating to the transfers of the 12 players.
The Solidarity mechanism is a system established by FIFA that enables the club that contributed to an athlete’s initial education and training to receive a portion of future revenues. Specifically, it gets a cut of the compensation received by the player’s current club where there’s a transfer before the expiry of the athlete’s contract. In this case, Vasco was the first training club for the 12 players, and a percentage of the money paid for the athletes by the buying club will go to Vasco. Each token is worth 1/500,000 of each of the 12 selected players’ solidarity value and has a nominal value of R$100 (currently around $18). Token owners will receive financial returns when and if player transactions occur.
For example, if Pedro is trained in Vasco’s academy and now plays for PSG and transfers to Real Madrid before the expiry of this PSG contract, part of the money Real Madrid will pay PSG for Pedro will go to Vasco. The tokens are worth 1/500,000 of that value.
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