As reported in a recent article in NFT Today Magazine, the Italian soccer giants Inter Milan have canceled its sponsorship with DigitalBits/Zytara, a popular Crypto firm as per CEO Allesandro Antonello during a recent Inter Milan shareholders meeting due to non-payment.
In a shocking turn of events, Alexandre Dreyfus, an industry insider and CEO of Socios.com, launched a scathing attack on DigitalBits on the popular social media platform LinkedIn earlier this week.
What did he have to say?
As it unfolded
Dreyfus was responding to a post by a user questioning what would happen to existing Fan Tokens when the deal ends, but before answering that question, he first had some choice words about DigitalBits and did not beat around the bush:
“DigitalBits has nothing to do with “fan tokens”. It’s an empty shell company that signed deals they were not able to afford with zero product. I’ve been vocal against them (and others) a few months ago.” stated the Socio.com CEO
He did not mention his sources, but this corroborates the testimony of Mark Dorrel, one of the earliest investors in DigitalBits, and what is interesting is the inclusion of (and others), pointing to the fact that Dreyfus is hinting at more skeletons in the closet for the Crypto industry.
The Future of Fan Tokens
Speaking on utility, Dreyfus said: ” Fan tokens will always exist on the blockchain and therefore, still be available. The only question is who would take care of the utility, if – for whatever reason – the club didn’t want to work with a company like Socios”
He wants clubs to take more ownership of the technology and says that: “What will happen though, is that more and more clubs will start to integrate their fan token in their ecosystem and more utility will come from the clubs themselves (launching API/web services for that).”
It’s clear that this technology is still very early, and we will continue to monitor this space as this story develops.
Editors Note: NFT Today Magazine has attempted to reach out to Digital Bits for comment, but as of publication, we still haven’t received any response.
Rocco Strydom is the Founder of SGM Holdings – finance, energy and media and is the host of the
SGM podcast based in South Africa