Chiliz Launching $50 Million Expansion into US Market

Sports blockchain platform Chiliz has announced that it will be investing $50 million into expanding into the US market, according to CEO Alexandre Dreyfus.

The Malta-based company enables sports teams to offer cryptocurrency tokens to their fans. These tokens allow fans to vote in polls concerning their teams as well as receive special promotions and rewards.

Chiliz says this ability to engage with global fanbases creates a “new digital revenue stream” for sports organizations.

Chiliz Coming to America

After its successful run with several prominent European football clubs, Chiliz is now opening an office in the US. There, it hopes to target the country’s top sports franchises.

“We head to the U.S. with a proven track record in generating millions of dollars of revenue for some of Europe’s biggest sporting organizations,” Dreyfus said.

“That’s why we’re opening a New York office and investing $50 million into the country’s sports industry in order to launch Fan Tokens with leading franchises from the five major U.S. sports leagues,” he continued. 

FanMarketCap, a fan token price and market information tracker run by Chiliz, currently stands at just under $200 million. Aside from adding more football clubs in the coming weeks, Dreyfus expects FanMarketCap to grow because the company is also in talks with Formula One and e-sports teams.

In 2019, Juventus became the first major football club to collaborate with Chiliz for the release of a fan token. Since then, other prominent clubs, such as Barcelona, Paris St. Germain, and most recently AC Milan, have followed suit. AC Milan generated $6 million on the day its token launched.

Connecting Fans with their Teams

Joseph Edwards, head of research at cryptocurrency brokerage Enigma Securities, said that fan tokens are arriving at just the right time for sports organizations and their fans, according to a Reuters report

Hit by restrictions related to the COVID-19 pandemic, clubs have needed a way to make up for lost revenue. Unable to attend matches, fans have never felt more disconnected from their favorite teams. Tokens offer solutions to both these issues, wrapped in the package of cryptocurrencies, which Edwards said are more popular than ever.

“It just hits right in the current moment that sports entertainment finds itself in,” he said.

Disclaimer


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Leave a Reply

Your email address will not be published. Required fields are marked *

bitcoin
Bitcoin (BTC) $ 37,934.00 1.92%
ethereum
Ethereum (ETH) $ 2,363.61 1.66%
tether
Tether (USDT) $ 0.999996 0.03%
polkadot
Polkadot (DOT) $ 22.24 5.14%
cardano
Cardano (ADA) $ 1.47 2.54%
binance-coin
Binance Coin (BNB) $ 352.28 0.29%
xrp
XRP (XRP) $ 0.838220 1.60%
litecoin
Litecoin (LTC) $ 165.41 2.10%
chainlink
Chainlink (LINK) $ 23.06 2.12%
bitcoin-cash
Bitcoin Cash (BCH) $ 593.83 1.78%
stellar
Stellar (XLM) $ 0.316026 2.15%
usd-coin
USD Coin (USDC) $ 1.00 0.08%
dogecoin
Dogecoin (DOGE) $ 0.306030 1.44%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 38,005.00 1.86%
uniswap
Uniswap (UNI) $ 22.00 1.20%
aave
Aave (AAVE) $ 289.83 1.69%
cosmos
Cosmos (ATOM) $ 13.51 4.57%
monero
Monero (XMR) $ 270.71 1.34%
eos
EOS (EOS) $ 4.83 2.84%
bitcoin-sv
Bitcoin SV (BSV) $ 162.54 1.80%
tron
TRON (TRX) $ 0.073506 4.95%
nem
NEM (XEM) $ 0.161112 3.51%
iota
IOTA (MIOTA) $ 1.08 0.40%
vechain
VeChain (VET) $ 0.106727 2.08%
tezos
Tezos (XTZ) $ 3.33 5.20%
theta-token
Theta Network (THETA) $ 9.70 6.94%
havven
Synthetix Network Token (SNX) $ 8.91 3.45%
avalanche-2
Avalanche (AVAX) $ 14.75 2.83%
neo
NEO (NEO) $ 47.97 4.11%
terra-luna
Terra (LUNA) $ 6.09 1.88%
dash
Dash (DASH) $ 163.08 2.80%
huobi-token
Huobi Token (HT) $ 13.14 1.76%
okb
OKB (OKB) $ 13.26 3.25%
elrond-erd-2
Elrond (EGLD) $ 84.08 4.18%
crypto-com-chain
Crypto.com Coin (CRO) $ 0.113762 1.65%
the-graph
The Graph (GRT) $ 0.684989 0.60%
compound-ether
cETH (CETH) $ 47.54 1.14%
solana
Solana (SOL) $ 38.84 3.64%
maker
Maker (MKR) $ 2,882.51 3.67%
filecoin
Filecoin (FIL) $ 68.41 2.64%
cdai
cDAI (CDAI) $ 0.021519 0.19%
dai
Dai (DAI) $ 1.00 0.20%
ftx-token
FTX Token (FTT) $ 31.92 1.20%
celsius-degree-token
Celsius Network (CEL) $ 6.79 1.91%
sushi
Sushi (SUSHI) $ 8.39 3.43%
kusama
Kusama (KSM) $ 342.04 7.08%
compound-governance-token
Compound (COMP) $ 303.33 1.95%
zcash
Zcash (ZEC) $ 140.79 1.06%
ethereum-classic
Ethereum Classic (ETC) $ 55.07 2.35%
decred
Decred (DCR) $ 128.06 4.05%
binance-usd
Binance USD (BUSD) $ 0.999163 0.34%
compound-usd-coin
cUSDC (CUSDC) $ 0.022081 0.21%
zilliqa
Zilliqa (ZIL) $ 0.103171 2.56%
uma
UMA (UMA) $ 11.84 2.17%
yearn-finance
yearn.finance (YFI) $ 36,072.00 2.50%
leo-token
LEO Token (LEO) $ 2.54 0.36%
pancakeswap-token
PancakeSwap (CAKE) $ 16.09 0.85%
waves
Waves (WAVES) $ 17.89 4.54%
near
Near (NEAR) $ 3.08 1.20%
amp-token
Amp (AMP) $ 0.098146 11.30%
0x
0x (ZRX) $ 0.867938 1.32%
huobi-btc
Huobi BTC (HBTC) $ 37,989.00 2.02%
algorand
Algorand (ALGO) $ 1.08 4.40%
digibyte
DigiByte (DGB) $ 0.055388 1.45%
icon
ICON (ICX) $ 1.06 3.85%
hedera-hashgraph
Hedera Hashgraph (HBAR) $ 0.204145 0.27%
nexo
NEXO (NEXO) $ 1.87 4.40%
xsushi
xSUSHI (XSUSHI) $ 9.74 2.68%
ethos
Voyager Token (VGX) $ 2.44 2.77%
loopring
Loopring (LRC) $ 0.293066 0.22%
thorchain
THORChain (RUNE) $ 8.67 9.44%
ontology
Ontology (ONT) $ 0.898113 4.17%
renbtc
renBTC (RENBTC) $ 37,964.00 1.74%
nano
Nano (NANO) $ 6.05 1.98%
basic-attention-token
Basic Attention Token (BAT) $ 0.650761 2.46%
omisego
OMG Network (OMG) $ 5.00 3.28%
republic-protocol
REN (REN) $ 0.437148 0.20%
zencash
Horizen (ZEN) $ 85.02 7.90%
bittorrent-2
BitTorrent (BTT) $ 0.003317 2.03%
swissborg
SwissBorg (CHSB) $ 0.659390 1.98%
ravencoin
Ravencoin (RVN) $ 0.070519 3.15%
iostoken
IOST (IOST) $ 0.026697 3.86%
qtum
Qtum (QTUM) $ 8.52 4.40%
paxos-standard
Paxos Standard (PAX) $ 0.998547 0.14%
venus
Venus (XVS) $ 29.44 2.42%
blockstack
Stacks (STX) $ 0.878195 5.55%
matic-network
Polygon (MATIC) $ 1.48 0.25%
curve-dao-token
Curve DAO Token (CRV) $ 2.08 1.50%
siacoin
Siacoin (SC) $ 0.014859 3.13%
quant-network
Quant (QNT) $ 72.24 0.55%
bancor
Bancor Network Token (BNT) $ 3.79 1.28%
reserve-rights-token
Reserve Rights Token (RSR) $ 0.029918 1.75%
fantom
Fantom (FTM) $ 0.324876 13.88%
mdex
Mdex (MDX) $ 2.06 4.26%
enjincoin
Enjin Coin (ENJ) $ 1.38 3.19%
energy-web-token
Energy Web Token (EWT) $ 7.35 0.97%
lisk
Lisk (LSK) $ 2.76 5.72%
ampleforth
Ampleforth (AMPL) $ 0.921891 0.90%
balancer
Balancer (BAL) $ 22.15 2.15%
terrausd
TerraUSD (UST) $ 1.00 0.02%
ocean-protocol
Ocean Protocol (OCEAN) $ 0.548770 2.40%
husd
HUSD (HUSD) $ 1.00 0.03%
nxm
Nexus Mutual (NXM) $ 90.78 0.43%
1inch
1inch (1INCH) $ 3.36 8.40%
bitcoin-gold
Bitcoin Gold (BTG) $ 57.26 5.25%
kyber-network
Kyber Network Crystal Legacy (KNCL) $ 1.92 6.61%
verge
Verge (XVG) $ 0.027433 3.54%
decentraland
Decentraland (MANA) $ 0.683936 4.58%
alpha-finance
Alpha Finance (ALPHA) $ 0.593417 1.53%
flow
Flow (FLOW) $ 11.73 0.41%
band-protocol
Band Protocol (BAND) $ 6.97 1.60%
status
Status (SNT) $ 0.070121 3.39%
dodo
DODO (DODO) $ 1.25 4.93%
bitcoin-cash-abc-2
Bitcoin Cash ABC (BCHA) $ 24.65 22.32%
compound-usdt
cUSDT (CUSDT) $ 0.021243 0.03%
xdce-crowd-sale
XDC Network (XDC) $ 0.076001 38.97%
staked-ether
Lido Staked Ether (STETH) $ 2,369.87 1.02%
arweave
Arweave (AR) $ 16.36 7.07%
polymath-network
Polymath Network (POLY) $ 0.205379 1.91%
safepal
SafePal (SFP) $ 1.06 2.46%
true-usd
TrueUSD (TUSD) $ 0.999954 0.21%
zkswap
ZKSwap (ZKS) $ 0.784635 7.09%
polkastarter
Polkastarter (POLS) $ 1.32 0.34%
ethlend
Aave [OLD] (LEND) $ 2.89 1.56%
helium
Helium (HNT) $ 13.69 4.16%
civic
Civic (CVC) $ 0.250727 3.37%
pundi-x
Pundi X [OLD] (NPXS) $ 0.001367 5.60%
kava
Kava.io (KAVA) $ 4.12 1.71%
golem
Golem (GLM) $ 0.274716 5.05%
harmony
Harmony (ONE) $ 0.078482 3.76%
nucypher
NuCypher (NU) $ 0.322601 15.61%
holotoken
Holo (HOT) $ 0.007615 2.85%
nusd
sUSD (SUSD) $ 1.00 0.37%
electroneum
Electroneum (ETN) $ 0.007118 3.37%
nervos-network
Nervos Network (CKB) $ 0.017434 0.41%
derivadao
DerivaDAO (DDX) $ 2.64 6.02%
district0x
district0x (DNT) $ 0.133291 1.96%
bitcoin-diamond
Bitcoin Diamond (BCD) $ 2.64 4.86%
trust-wallet-token
Trust Wallet Token (TWT) $ 0.345824 6.01%
rif-token
RSK Infrastructure Framework (RIF) $ 0.166702 5.00%
swipe
Swipe (SXP) $ 2.19 6.65%
gnosis
Gnosis (GNO) $ 173.91 1.02%
numeraire
Numeraire (NMR) $ 38.66 2.04%
rook
KeeperDAO (ROOK) $ 159.01 11.04%
kucoin-shares
KuCoin Token (KCS) $ 9.00 2.47%
btc-standard-hashrate-token
BTC Standard Hashrate Token (BTCST) $ 28.66 1.88%
aragon
Aragon (ANT) $ 4.39 5.97%
fetch-ai
Fetch.ai (FET) $ 0.292884 1.49%
litentry
Litentry (LIT) $ 3.44 2.20%
funfair
FUNToken (FUN) $ 0.020644 0.37%
chiliz
Chiliz (CHZ) $ 0.317740 6.60%
seth
sETH (SETH) $ 2,373.74 0.91%
oasis-network
Oasis Network (ROSE) $ 0.071381 2.57%
injective-protocol
Injective Protocol (INJ) $ 8.32 4.30%
vethor-token
VeThor Token (VTHO) $ 0.007737 1.48%
saffron-finance
saffron.finance (SFI) $ 427.52 4.11%
augur
Augur (REP) $ 17.91 4.16%
the-sandbox
The Sandbox (SAND) $ 0.270843 3.82%
singularitynet
SingularityNET (AGIX) $ 0.203200 1.21%
secret
Secret (SCRT) $ 1.55 11.72%
telcoin
Telcoin (TEL) $ 0.031143 0.37%
serum
Serum (SRM) $ 4.02 3.48%
gatechain-token
GateToken (GT) $ 3.82 3.54%
mainframe
Hifi Finance (MFT) $ 0.008050 5.09%
sbtc
sBTC (SBTC) $ 38,194.00 1.61%
compound-uniswap
cUNI (CUNI) $ 0.444515 1.03%
ardor
Ardor (ARDR) $ 0.166632 1.70%
vai
Vai (VAI) $ 0.895781 0.98%
utrust
UTRUST (UTK) $ 0.288023 0.47%
prometeus
Prometeus (PROM) $ 14.05 6.32%
reddcoin
Reddcoin (RDD) $ 0.002286 7.07%
monacoin
MonaCoin (MONA) $ 1.80 1.48%
noia-network
Syntropy (NOIA) $ 0.211204 2.64%
compound-0x
c0x (CZRX) $ 0.017951 0.10%
wink
WINkLink (WIN) $ 0.000504 9.33%
ankr
Ankr (ANKR) $ 0.079220 2.61%
bytom
Bytom (BTM) $ 0.078996 0.03%
rocket-pool
Rocket Pool (RPL) $ 10.65 3.11%
origintrail
OriginTrail (TRAC) $ 0.299814 3.34%
steem
Steem (STEEM) $ 0.405808 4.17%
maidsafecoin
MaidSafeCoin (MAID) $ 0.730145 1.70%
tomochain
TomoChain (TOMO) $ 1.95 6.94%
edgeware
Edgeware (EDG) $ 0.009622 0.92%
skale
SKALE (SKL) $ 0.301808 3.31%
stratis
Stratis (STRAX) $ 1.27 0.81%
hegic
Hegic (HEGIC) $ 0.107697 0.78%
komodo
Komodo (KMD) $ 1.06 2.23%
bitshares
BitShares (BTS) $ 0.049547 2.70%
unibright
Unibright (UBT) $ 1.25 4.41%
coinmetro
CoinMetro (XCM) $ 0.318510 10.09%
ark
Ark (ARK) $ 1.09 5.53%
mirror-protocol
Mirror Protocol (MIR) $ 4.77 22.65%
keep-network
Keep Network (KEEP) $ 0.606682 16.45%
neutrino
Neutrino USD (USDN) $ 1.00 0.28%
iexec-rlc
iExec RLC (RLC) $ 3.56 7.66%
harvest-finance
Harvest Finance (FARM) $ 54.06 1.77%
iotex
IoTeX (IOTX) $ 0.022126 2.44%
badger-dao
Badger DAO (BADGER) $ 12.91 1.15%
redfox-labs-2
RedFOX Labs (RFOX) $ 0.081549 9.56%
empty-set-dollar
Empty Set Dollar (ESD) $ 0.053257 6.59%
ultra
Ultra (UOS) $ 0.494154 4.38%
wanchain
Wanchain (WAN) $ 0.725976 2.60%
iris-network
IRISnet (IRIS) $ 0.084685 3.21%
perpetual-protocol
Perpetual Protocol (PERP) $ 7.54 0.47%
trustswap
Trustswap (SWAP) $ 1.00 1.59%
tokenlon
Tokenlon (LON) $ 3.55 4.71%
orion-protocol
Orion Protocol (ORN) $ 8.12 10.01%
titanswap
TitanSwap (TITAN) $ 4.00 2.86%
tether-gold
Tether Gold (XAUT) $ 1,774.69 2.61%
wax
WAX (WAXP) $ 0.127808 8.48%
yfii-finance
DFI.money (YFII) $ 1,874.48 0.73%
aelf
aelf (ELF) $ 0.203378 3.94%
haven
Haven (XHV) $ 11.21 2.36%
pax-gold
PAX Gold (PAXG) $ 1,788.70 1.98%
defipulse-index
DeFiPulse Index (DPI) $ 303.91 2.01%
math
MATH (MATH) $ 1.40 0.93%
api3
API3 (API3) $ 2.81 5.05%
sora
Sora (XOR) $ 277.25 1.22%
dent
Dent (DENT) $ 0.003357 2.33%
loom-network
Loom Network (OLD) (LOOMOLD) $ 0.060333 2.79%
nftx
NFTX (NFTX) $ 49.54 9.00%
gala
Gala (GALA) $ 0.009188 3.57%
axie-infinity
Axie Infinity (AXS) $ 4.64 8.85%
beefy-finance
Beefy.Finance (BIFI) $ 1,747.17 18.00%
swingby
Swingby (SWINGBY) $ 0.090548 4.43%
parsiq
PARSIQ (PRQ) $ 0.838210 0.84%
akropolis
Akropolis (AKRO) $ 0.023826 6.35%
nest
Nest Protocol (NEST) $ 0.013176 0.38%
stakehound-staked-ether
StakeHound Staked Ether (STETH) $ 3,719.75 0.00%
akash-network
Akash Network (AKT) $ 3.11 0.53%
cream-2
Cream (CREAM) $ 155.68 6.92%
auto
Auto (AUTO) $ 1,293.45 2.85%
storj
Storj (STORJ) $ 0.887235 4.50%
e-radix
e-Radix (EXRD) $ 0.147719 1.18%
hive
Hive (HIVE) $ 0.330641 4.15%
chainx
ChainX (PCX) $ 5.90 4.15%
wrapped-nxm
Wrapped NXM (WNXM) $ 59.85 1.49%
hathor
Hathor (HTR) $ 0.430159 0.61%
gemini-dollar
Gemini Dollar (GUSD) $ 0.997674 0.47%
frontier-token
Frontier (FRONT) $ 0.752907 5.15%
everid
Everest (ID) $ 0.428412 16.25%
lto-network
LTO Network (LTO) $ 0.225134 3.81%
power-ledger
Power Ledger (POWR) $ 0.188835 5.15%
livepeer
Livepeer (LPT) $ 24.71 2.70%
xdai-stake
xDAI Stake (STAKE) $ 10.92 7.56%
rari-governance-token
Rari Governance Token (RGT) $ 5.70 0.11%
cashaa
Cashaa (CAS) $ 0.028427 4.25%
energi
Energi (NRG) $ 2.14 2.31%
bytecoin
Bytecoin (BCN) $ 0.000450 0.19%
duckdaodime
DuckDaoDime (DDIM) $ 13.87 3.26%