Chiliz announces partnership with FTX to list Fan Tokens

The partnership will see the $INTER and $GAL Fan Tokens made available on FTX

                                
Chiliz logo - Photo:Shutterstock
                                

Chiliz, the global blockchain providers for the sports industry has announced a partnership with cryptocurrency derivatives exchange FTX.

This will see some of the Chiliz Fan Tokens such as $INTER, Italian football club Inter Milan Fan Token and $GAL, Turkish football club Galatasaray Spor Kulübü Fan Token launched by Chiliz and unveiled on fan engagement and reward app, Socios.com given access to on FTX.

These Fan Tokens are “collectible digital assets, minted on the Chiliz $CHZ blockchain”.

Fan Token holders will be given the chance to participate in a series of interactive votes with their club each season. Those who hold a Fan Token will be given access to club-related content.

The Fan Token will also allow football fans the chance to take part in global competitions and quizzes and earn real-life and digital club-related “accolades, benefits and experience along the way”.

Other Fan Tokens soon to follow

FTX, which is one of the world’s largest crypto exchanges in the world recently closed the largest fund-raise in crypto history with $900m (£649m) which gave it a valuation of $18bn (£13bn). Following $INTER and $GAL, other Fan Tokens will soon follow like $PSG French football club Paris Saint-Germain’s Fan Token, $CITY, Premier League Manchester City’s Fan Token and $BAR, Spanish football club Barcelona’s Fan Token. FTX will “continue to support Fan Token as Chiliz scales and consolidates this major new industry trend in the years to come.”

In total five Premier League clubs have signed up to Chiliz. They are Aston Villa with the $AVL Fan Token, Leeds United with the $LUFC Fan Token, Everton with the $EFC Fan Token, Arsenal with the $AFC Fan Token and Manchester City with the $CITY Fan Token.

NBA star Stephen Curry becomes FTX global ambassador

Recently, Stephen Curry, three-time National Basketball Association (NBA) champion and two-time NBA Most Valuable Player, has become a global ambassador and shareholder of FTX.

Curry, who plays for the Golden State Warriors, is not the first high-profile athlete to partner with FTX. Tom Brady, a quarterback for the National Football League (NFL) team the Tampa Bay Buccaneers, inked an endorsement deal with the exchange in June.

The partnership with FTX is the first time that the 33-year-old NBA player has invested in the crypto sphere.

“The global sports industry has awoken to the huge potential of Fan Tokens”

Alexandre Dreyfus, CEO of Chiliz and Socios.com, regarding the partnership said: “In 2021, the global sports industry has awoken to the huge potential of Fan Tokens. These digital assets have captured the attention of millions of fans around the world — and the world’s leading business and sports media — but we are only at around 10% of the full potential of our mission. 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.”

Sam Bankman-Fried, CEO of FTX said: “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.”

Further reading: Slough Town F.C. sponsored by new crypto Koda

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