A world leading blockchain provider for the sports and entertainment industry has joined forces with a cryptocurrency derivatives exchange to list tokens for sports fans.
New Ways of Fan Engagement
The partnership between Chiliz and FTX.com announced today allows for the listing of Fan Tokens on the cryptocurrency exchange, to provide access for millions of sports fans globally to these digital utility assets. Starting with $INTER and $GAL, cryptocurrency derivatives exchange FTX.com will be rolling out continuous support for Chiliz’ Fan Tokens.
At FTX, we are always looking to be at the forefront of innovation. Bringing Fan Tokens to our platform through this partnership with Chiliz provides our users with a new way of engaging with the teams they support. We look forward to collaborating with Chiliz on the launch of this product to a global audience.”Sam Bankman-Fried, CEO, FTX.com
Fan Tokens have been growing in popularity since 2021, experiencing hypergrowth after being adopted by major clubs and sports organizations and embraced by sports fans around the world. As a collectible and tradable digital asset, Chiliz’ Fan Tokens allow their holders access to games, rewards, exclusive content, chat forums, competitions and VIP experiences on both fan engagement platforms, Chiliz and Socios.com.
Fan Tokens Potential at 10%
Speaking about the partnership, Chiliz CEO Alexandre Dreyfus outlined the huge potential seen by the global sports industry in Fan Tokens, as “these digital assets have captured the attention of millions of fans” globally, yet barely reached 10% of their potential.
In the blockchain/crypto space, NFTs have been the buzzword for some time, but partnerships like today’s, receiving the full backing of the hottest trading platform in the industry, provides more proof that it is in fact Fan Tokens that have the scalability to grow the industry by providing real utility and a product that is able to capture and hold the attention of a potentially massive mainstream audience.”Alexandre Dreyfus, CEO, Chiliz
Gaining the support of one of the largest cryptocurrency exchanges with a valuation of $18 billion is seen as an important step forward for Chiliz, as its partner FTX.com will continuously provide support for trading with Fan Tokens, with the first two $INTER and $GAL set to be followed by $PSG, $CITY, and $BAR shortly after.
In total, 60 sports organizations globally, including the likes of Italian Serie A giants Juventus, Milan and Inter, La Liga Barcelona and Valencia, Ligue 1 PSG and English Premier League Manchester City and Arsenal, have already endorsed Chiliz’ Fan Tokens via partnerships. Clubs like Valencia and Inter even intend to promote their Fan Tokens on the front of their shirts in the 2021/22 season.