Jamie McNeill
Fan token provider Chiliz is up 10% today amid news that their ‘I am More than a Fan’ debit card will roll out in November.
Chiliz is a company that is focused on tokenising the sports world and has already secured massive partnerships with iconic sports teams and organisations around the world.
By using blockchain technology to improve and expand the different ways that fans and communities can engage with their favourite teams and athletes, Chiliz hopes to become to the world’s “leading blockchain fintech provider for sports and entertainment”.
Chiliz signs more clubs and offers more fan tokens
Chiliz has been on an aggressive spree of signing deals and partnerships recently and has facilitated fan tokens for many of the most popular clubs in the world.
Some of the most notable clubs that have issued fan tokens with Chiliz include Juventus, Paris Saint-Germain, Atlético de Madrid, and FC Barcelona. Barcelona’s recent issuance of their fan token BAR on the Socios platform raised $1.3 million in a little under two hours.
Chiliz releases debit card in partnership with Socios
One of the most exciting new developments for Chiliz and the fan token space more generally is the release of theSocios.com ‘I am more than a fan’ debit card.
The debit card is designed to reward fans for participating in the ecosystem and there are a variety of benefits to holders.
Those who have a Socios.com debit card are able to redeem offers and rewards from their favorite clubs, cashback on purchases in CHZ and limited-edition club branded cards.
The card will be rolling out in November and are designed to dramatically improve the experience of fans as they attend games and make purchases.
Finally, and perhaps the most impressive thing about the card, is that it may also be used as a ticket in itself.
By signing in digitally, people can register and KYC themselves on the Socios.com app, buy tickets within the app, and use the card to verify that they own them.
Chiliz announces partnership with the UFC
Up until this point, the main product and serve line for their ecosystem has been tailored to football teams.
This isn’t unsurprising, given that football is the largest and most popular sport in the world, and one that has a huge industry built around it that generates billions annually.
However, the rising popularity of martial arts, and the competitive and commercial nature of many of the top fights, has provided Chiliz with an opportunity to expand their ecosystem.
A recently signed partnership with the UFC means that MMA athletes will be able to grow and cultivate their own audiences through the Socios platform in order to build their brand.
CHZ has now listed on Brazil’s largest crypto exchange
Due to many of the aforementioned developments, the price of Chiliz has fared far better than other cryptocurrencies.
CHZ is down 75% from its all-time high, which is better than a lot of altcoins now that we are in the depths of a bear market.
However, the price is CHZ has now risen over 100% from the lows, and the fully diluted market cap of the project stands at $1.8 billion.
The lows coincided with the listing of CHZ on Brazil’s largest cryptocurrency exchange in July, and this may have been one of the factors, alongside the other aforementioned developments, that the CHZ price has been performing so well.
The future of crypto and e-sports
There are several more high-profile clubs that are yet to make partnerships, or any forays at all, into the world of crypto.
Fan tokens are still not widely known about amongst the football community, but they are growing – and quickly.
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- Binance Kicks Off Football Fan Token Index Perpetual Futures With Up to 25x Leverage
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This article was written for Business 2 Community by Jamie McNeill.
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