Binance is investing in the company behind Socios.com, which has partnerships with Paris Saint-Germain and Juventus
Binance yesterday announced a new strategic partnership with Chiliz, a fintech blockchain company that provides sport and entertainment entities with tools to help them engage and monetise global audiences. Binance was already an early investor in Chiliz but is now making the partnership long-term by way of additional investments and the allocation of Fan Tokens through Binance Launchpool.
Changpeng Zhao, Founder and CEO of Binance, commented, “Chiliz became a part of the crypto world through Fan Tokens, which has shown huge potential in bringing crypto to mainstream audiences all around the world. We’re delighted to welcome Chilliz to the Binance ecosystem and look forward to empowering both fan engagement and crypto adoption among a captive audience of billions.”
Chiliz is behind the fan influence and rewards platform Socios.com, which has partnerships with the UFC; Esports teams NAVI and OG; and football teams Paris Saint-Germain, Juventus, FC Barcelona, Atletico de Madrid, AS Roma and Galatasaray. The platform is powered by the utility token $CHZ, and over the last year has sold more than 14 million Fan Tokens, registered more than 700,000 votes on the blockchain and been downloaded by over 370,000 people. The Fan Token Offering for FC Barcelona, $BAR, generated $1.3 million, selling out in just 20 minutes.
Chiliz Founder and CEO, Alexandre Dreyfus, added, “Binance has been a strong supporter of Chiliz since day one, but this new partnership really seals our original vision of tokenizing the sports & entertainment industry over the next 5–7 years. In just under 3 years, we have already established ourselves as the leading force in this space, but this partnership gives us renewed strength and credibility to create the leading global fan engagement & monetization ecosystem. Chiliz aims to onboard many more partners from the worlds of sports & entertainment over the next few years. With new features, gamification, leaderboards & NFT-based events being released in the coming weeks, Socios.com is the leading venture in this space.”
Paris Saint-Germain and Juventus Fan Tokens (PSG and JUV respectively) will be the first to be offered in Binance launchpool, where customers can acquire them by staking BNB, BUSD or CHZ tokens into separate pools starting today and running until 14 January. From 21 December, Binance will list these Fan Tokens in the innovation zone, when the trading pairs PSG/USDT, PSG/BUSD, PSG/BTC, JUV/USDT, JUV/BUSD and JUV/BTC will be open for trading.