Home Blockchain Chiliz crypto exchange firm to launch platform for trading Sports fan token

Chiliz crypto exchange firm to launch platform for trading Sports fan token

Chiliz Blockchain Campus is the epicenter of the Blockchain industry in Malta. The platform is set to launch its cryptocurrency exchange for sports and entertainment token.

According to a press release, the exchange, Chiliz.net will launch in February after the beginning of Fan Token Offerings​ ​for all of the Socios.com ​partner teams. Socios.com is another tokenized voting platform for sports powered by Chiliz tokens. (CHZ).

Prior to now, Socios.com was used by a professional Italian football team, Juventus, to allow their fans to vote for their favorite new goal celebration song at their home arena.  The voting marked the first-ever pool held in socios and also marked the first time real use of Juventus branded token coin $JUV.

Chilliz.net reportedly will be fully integrated alongside socios.com allowing users to transfer their fan token from a Socios wallet to the exchange, and vice versa.

The integration will enable users to trade fan token for professional soccer team Juventus (JUV)​, ​Paris Saint-Germain (PSG)​, Atlético de Madrid (ATM)​, ​A.S. Roma (ASR)​, ​Galatasaray (GAL)​ and ​West Ham United (WHU) on the new exchange.

Alexandre Dreyfus, Chiliz and socios.com CEO, said that Chilliz.net will be the first crypto exchange that does not focus on traditional crypto products. The company also plans that by March, it would add support for OG Esports’ fan token, OG.

Towards the end of last year, Chiliz was announced to have amassed more than 50,000 users within the first two months following the soft-launch of the Socios.com application for Android.

With Soccer’s massive audience of around half the total world’s population supporting it, Chiliz appears to be using the most followed sport as a strategy to grow in the crypto market. Dreyfus said that sports fans represent an addressable audience of billions globally revealing the chances of delivering blockchain to a larger audience via a partnership with global brands and household names.

Binance Chain integration supposedly gives a wider reach to Chiliz’s consumer-oriented products and services like instant payments and prepaid gift cards.

Dreyfus said those mainstream tokens are flung from the likes of Bitcoin and payments. “This is the usage of blockchain for something that is not payments, and that was conceived exclusively because of blockchain. We are not replacing something that was existing before, we have created a new usage and innovation (fan token, influence, etc …) and we use blockchain to support it,” Dreyfus explained

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