House of Doge has secured the largest equity position in US Triestina Calcio 1918, marking cryptocurrency’s entrance into European football ownership. The deal, which was done with merger partner Brag House Holdings, infuses capital into the ailing Serie C team, which was established in 1929.
The size of the investment has not been revealed, but the company has affirmed that it would use the resources to fortify the football operations, as well as community programs. The US Triestina is already in the last position in the third division of Italy, which runs the risk of being relegated to Serie C2 unless it shows a substantial performance improvement this season.
Cryptocurrency Integration at Stadium Level
The ownership group has plans to introduce the use of digital currency payment systems in the running of the club. The fans of the stadium with Nereo Rocco will have the opportunity to buy tickets, snacks, and merchandise with cryptocurrency. This infrastructure is meant to transform the fan experience, besides offering the organization extra revenue streams that it is financially strained.
House of Doge CEO Marco Margiotta framed the acquisition as something beyond normal sports investment. The executive underlined the initiative as one of the means of introducing Dogecoin to the normative sphere of athletic life. The deal is the initial example of a European football club integrating a cryptocurrency company into its ownership structure.
This project is based on the partnership between House of Doge and the March with IndyCar driver Devlin DeFrancesco to drive the Indianapolis 500. That package comprised 100,000 Dogecoin of race earnings to DeFrancesco, and a donation of 25,000 DOGE to Riley Children Foundation.
The company has recently hired Matt Swan as chief digital officer. Matt Swan, who served as chief technology officer at Booking.com, was also chief investment officer at Citi. House of Doge also entered into a collaboration with the US hospitality payment service inKind to expand the use of cryptocurrencies as useful tools in business operations.
The purchase fits into the new tendencies of the blockchain firms purchasing football clubs. Brera Holdings, which is linked to Solana, has ownership shares in several Italian clubs, in Mongolia, Macedonia, and Mozambique, including SS Juve Stabia in the Serie B.
US Triestina Calcio 1918 was a founding club of Serie A but has not been seen in the top flight in Italy since 1958. The club has a venue for home matches in Stadio Nereo Rocco with a capacity of 24,500 people. The broadcasts in Serie A have an average domestic viewership of three to six million in Italy, which means a huge commercial potential for the club that is promoted.
The mission of House of Doge is based on the support of the ventures that already have proven community impact and long-term sustainable value propositions. The company is still in the process of public listing by reverse takeover with Brag House Holdings. The Triestina investment would act as a pilot project in terms of introducing cryptocurrency in the systems of traditional European sports organizations, and its results would presumably affect the engagement of digital assets in the system of ownership of football clubs in the future.
Source: https://coinpaper.com/11788/house-of-doge-acquires-majority-stake-in-historic-italian-football-club
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