European football giant AC Milan is the latest sports organization to enter the blockchain bandwagon following the announcement of the impending launch of ACM’s USD denomination Fan Token on Chilez Blockchain (CHZ).

The launch is expected in the coming weeks, and ACM token holders will be able to use tokens to receive various exclusive rewards and participate in interactive events with the club and players.

The addition of AC Milan has led to the number of sports organizations on the Chile blockchain to 20. These organizations include European heavyweight football teammates: FC Barcelona, ​​Paris Saint-Germain, Rome and Atlético de Madrid, as well as several e-sports teams. , and the management of the organization MMA, UFC.

In the past, football fans have used cryptocurrency tokens as a way to interact with their favorite teams in a variety of ways. Examples include Cypriot Apollo fans, picking the team’s first opponent in a friendly match, and even deciding the club’s home and away series for the 2020/2021 season.

Barcelona fans used tokens to vote on the placement of fan art in the locker room, while Juventus fans had an influence in choosing the club’s new holiday song. The Roma fan icon was able to ask questions to the team’s coach during a live press conference.

Chiliz tokens are available via the app, which has reportedly been downloaded 450,000 times, resulting in an increase in token sales of over 14 million.

Many Chiliz tokens have since been listed on the Binance cryptocurrency exchange, which originally launched a multi-token program and then opened direct trading in Bitcoin (BTC) and Tether (USDT).

The decision to use blockchain technology was partly driven by the desire to keep in touch with the club’s 450 million fans worldwide – a task that has become even more important under the isolation of COVID-19, said Kasper Styleswig, AC Milan’s revenue director:

“We are excited to partner with and welcome them to our family as a global partner. This partnership gives us the opportunity to give 450 million fans worldwide another exciting way to interact with Milan, which is especially important given the current circumstances caused by the Covid-19 pandemic. ”
Alexander Dreyfus, founder and CEO of Chiliz and, said he hopes to create fan brands as an important tool for interacting with fans and expects that there will be a new source of revenue in the sports arena:

“Fans of Rossoneri (AC Milan) will be able to enjoy the unique participation of their favorite team, influence the club in the polls, gain access to VIP awards, exclusive promotions, chat forums and much more.”

Socios claims to have generated $ 30 million in revenue for clubs and partners in just 12 months since its launch. FC Barcelona Fan Tokens (BAR) were sold in just two hours in June 2020 for $ 1.2 million, while Juventus (JUV) and Paris Saint-Germain (PSG) tokens exceeded $ 300 million in just a few days. … Included on Binance.

Source: CoinTelegraph