AC Milan first team to launch NFTs with Chiliz

Chiliz said more NFTs would be issued by clubs to mark fans’ passion, loyalty and commitment

A close-up on the logo of AC Milan against the team's red and black football shirt                                 
Logo of AC Milan Football Club – Photo:Shutterstock
                                

AC Milan, a club in the top tier of Italian football, Serie A, has become the first side to launch non-fungible tokens (NFTs) with Chiliz, the global blockchain providers for the sports industry.

Following AC Milan’s partnership with Chiliz and its launch of the $ACM Fan Token on Socios.com, certain holders of the $ACM Fan Token will be receiving limited edition NFTs.   

Chiliz said: “The AC Milan NFT launch illustrates how NFTs will be used to increase Socios.com’s offering for major sporting organisations and their global fanbases, adding more utility, as well as a collectible, tradable component.”

AC Milan is the first out of the over 100 Chiliz sport partnerships to unveil an NFT campaign with Socios.com.  

The 100 NFTs went live on 31 October, following AC Milan’s match against A.S. Roma, which AC Milan won 2-1.

AC Milan NFT to be the first of many

The blockchain provider for the sports industry stated that the NFT would be “the first of many” to be released from AC Milan and other sports teams Chiliz has partnered with.

The NFTs will be traded on any ethereum based NFT marketplace and will increase the ways $AMC Fan Tokens holders can be rewarded through the Socios.com app.    

More than 1.3 million fans from 167 countries are using the socios.com app to “engage with and be rewarded by the teams they love”, the company stated. Some of Chiliz partners include FC Barcelona, Juventus, Paris Saint-Germain (PSG), Inter Milan, Atlético Madrid, Manchester City and Arsenal.

There are certain conditions for fans to be eligible to receive one of the 100 limited edition NFTs. Fans need to have at least 10 $AMC Fan Tokens in their Socios.com wallet and they must have used the predictor feature in the Socios.com app to correctly predict the outcome of AC Milan’s game with A.S. Roma on Halloween.     

“Our NFTs will have utility, acting as loyalty tools”

Alexandre Dreyfus, CEO of Chiliz and Socios.com, said the limited edition digital collectibles were about rewarding fans for their passion and commitment: “NFTs, from the biggest sporting organisations in the world, are now an official component of our offering for fan token holders.

“The AC Milan launch will be the first of many similar launches to be held with our 100+ strong roster of partners.

“In addition to bringing a collectible, tradable dimension to our offering for fan token holders, our NFTs will have utility, acting as loyalty tools. For instance, we envisage that holders of a certain number of club NFTs will be able to use them to unlock money can’t buy experiences and other digital rewards and incentives.”

Further reading: First Colombian club to launch Fan Token on Socios.com

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