Sports venture Chiliz has announced a strategic partnership with Chain, the mainnet of major . The was revealed in an official press release on May 17.
As previously reported, Chiliz ($CHZ) is a sports industry-oriented digital currency that powers the tokenized fan engagement platform and -powered mobile app, Socios.com.
High-profile Socios partners to date have included major soccer teams and , who plan to use the platform to launch fan offerings for their club-branded , which will confer voting rights for club-related polls and offer rewards for their holders.
While crypto exchange was already a backer of the Chiliz venture, Chiliz and Socios.com CEO Alex Dreyfus has underscored that the new integration with the Chain mainnet will increase Socios.com’s access to the liquidity pool of the worldwide community.
Sports fans, Dreyfus noted, represent an addressable audience of 3.5 billion globally, opening up the possibility of bringing to a wider audience via collaboration with the industry’s global brands and household names. CEO echoed the idea, stating in the press release:
“Sports is the perfect vehicle through which to educate mass consumers about the potential and the utility of technology.”
According to the release, Chain integration will enable Chiliz to deepen implementation in their consumer-oriented product, and to offer services such as “instant payments, prepaid gift cards and micro-transactions for digital services.”
With Socios partner club fan — such as PSG and Juventus — currently under development, the press release states that once $CHZ has been successfully integrated, these forthcoming fan could also in future be issued on Chain.
Chiliz — which reportedly raised over $66 million through private placement from investors in 2018 — will reportedly release further in coming weeks, in particular concerning the partial migration of ERC20 to BEP2 — the technical standard for the Chain mainnet.
The Chain mainnet was in April of this year, with the intent to build a basis for issuing new and initial coin offering .
As Cointelegraph has , London-based West Ham United — which plays in the English Premier League — became the latest high-profile Socios club partner this April.
In December 2018, premier league soccer club Atletico Mineiro its own fan utility dubbed “GaloCoin.”
Published at Sat, 18 May 2019 05:27:13 +0000