This year is rich in interesting collaborations in the crypto sphere. Just recently it has become known that Chiliz, the digital currency for sports and entertainment platforms, has entered in a strategic partnership with a blockchain software system developed by Binance, Binance Chain. The main idea behind this initiative is to push the way for such world-known names and brands as Juventus and Paris Saint-Germain to the crypto world.
— CZ Binance (@cz_binance) May 17, 2019
What Is Known about Chiliz
Chiliz represents itself a digital asset that powers a number of blockchain-backed platforms and products developed for mainstream users. One of the bright examples of its use cases is a tokenized fan influence mobile app Socios.com.
Coinspeaker has already reported about a number of prominent footballing giants like Paris Saint-Germain, Juventus, Premier League club West Ham United FC that have taken a decision to establish cooperation with Socios.com in order to offer their fans a wide range of crypto options to support interaction with their favorite clubs.
Chiliz and Binance Chain
And now Chiliz will reach the Binance community via its work with Binance Chain. Speaking about their new partnership, Alex Dreyfus, CEO of Chiliz and Socios.com stated:
“Integration of Binance Chain protocol will increase our access to the large liquidity pool of the Binance community, one of the largest and most vibrant communities in the cryptosphere. Through Socios.com, we will highlight blockchain to a more mainstream audience – an addressable audience of 3.5 billion fans around the world – as well as allowing global brands and household names the chance to access the crypto space.”
Changpeng Zhao, who is better known for the crypto community as just CZ, CEO & Founder of Binance also commented on this initiative in a very positive way:
“Sports is the perfect vehicle through which to educate mass consumers about the potential and the utility of blockchain technology. I’m proud that Binance and Chiliz are leading that charge globally.”
While Socios.com, that is powered by its own native currency $CHZ, provides sports fans with an opportunity to take part in club-related polls and get access to exclusive rewards via purchasing club-branded Fan Tokens, the partnership with Binance Chain will enable Chiliz to facilitate incorporation of blockchain into their consumer-facing product. As a result, it will be able to offer such services as instant payments, pre-paid gift cards and micro-transactions for a wide range of digital services.
It is expected that the release of Fan Tokens for Socios.com’s partner club will take place in the coming months as well as the announcement of other team joining the platform. After the successful integration of $CHZ, Fan Tokens are to be issued on Binance Chain as well.
The official introduction of the partnership is scheduled for May 27 and May 28 in the frameworks of the meetups in Seoul, South Korea, and Singapore. The management of Chiliz and Binance will meet Juventus’ Head of Partnerships, Tomas Aricó and Juventus Legend David Trezeguet, to discuss the prospects of using blockchain within the football industry.