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Leading Brazilian soccer team to tokenize FIFA player transfer fees

Published 11/05/2020, 05:15 PM
Updated 11/05/2020, 07:00 PM
Leading Brazilian soccer team to tokenize FIFA player transfer fees
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Vasco da Gama, one of the leading teams in Brazilian football, and Mercado Bitcoin, one of the largest cryptocurrency exchanges in Latin America, have announced plans to tokenize the rights of the solidarity mechanism of FIFA.

The FIFA Solidarity Mechanism is a part of the FIFA Transfer Regulation, which acts as a selling right for a player and encourages clubs to develop young players. Through this mechanism, up to 5% of the total value of each international transfer of an athlete can be shared with all the clubs that an athlete went through during his career until he was 23 years old.

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