Chiliz, a sports blockchain enterprise based in Malta, is launching a cryptocurrency exchange where fans can exchange sports and entertainment tokens. The new exchange, Chiliz.net, will commence operations in February following their Fan Token Offerings that will be conducted in conjunction with Socios.com partners. Chiliz CEO Alexandre Dreyfus also runs Socios.com which is a tokenized fan-voting platform powered by Chiliz tokens (CHZ).
The Chiliz cryptocurrency exchange will be fully integrated with Socios.com to facilitate two-way transfers of the fan tokens across the wallet and the exchange. According to the CEO of both companies, Chilliz.net will become the first crypto exchange that will not deal with traditional crypto products.
Chiliz has a large number of partners drawn primarily from Association Football biggest clubs with massive following. These include Juventus (JUV), Paris Saint-Germain (PSG), Atlético de Madrid (ATM), A.S. Roma (ASR), Galatasaray (GAL) and West Ham United (WHU).
Chiliz decision to initially open up their crypto exchange to football fans may prove to be a masterstroke. Football is the most popular sport in the world with matches drawing huge crowds in stadiums and millions of viewers on TV. Consequently, football has established by far the biggest audience of any sport with teams enjoying cult-like following globally.
For context, FIFA’s audited audience data revealed that over 3.5 billion people across the globe watched the 2018 World Cup. This figure suggests that half of the human race tuned in to catch some action of the global action. For Chiliz, this presents a great opportunity considering the huge size of the addressable audience.
The CEO also indicated that the company will enlist and begin providing support for OG Esports’ fan token (OG) in March. This move will provide Chilliz with direct access to the huge Esport’s fan audience.
The recent announcement follows in a series of positive developments by Chiliz. The company formed a strategic partnership with Binance exchange’s mainnet, Binance Chain, back in May 2019. The collaboration’s main objective is to open up the blockchain technology to a bigger audience by partnering with reputable global brands and widely recognizable household names.
Additionally, the collaboration will enable Chiliz integration with the Binance Chain thus giving them a wider reach to the target audience through customer-facing products and services like instantaneous payments and prepaid gift cards.
So far, Chiliz seems on course to meet this objective with their new exchange targeting billions of football fans globally.
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