European soccer big AC Milan is the newest sporting group to leap on the blockchain bandwagon after it announced the approaching launch of the $ACM fan token on the Chiliz (CHZ) blockchain.
With the launch anticipated to begin within the coming weeks, ACM token holders will be capable of use their tokens to redeem numerous unique rewards and participate in interactive actions with the membership and gamers.
The addition of AC Milan takes the variety of sporting organizations on the Chiliz blockchain to 20. These embrace fellow European soccer heavyweights FC Barcelona, Paris Saint-Germain, AS Roma, and Atletico Madrid, in addition to numerous e-sports groups, and leading MMA organization, the UFC.
Previously, soccer followers have used cryptocurrency tokens as a option to interact with their favourite groups in quite a lot of methods. Examples embrace followers of Cyprus-based membership, Apollon FC, selecting the staff’s first opponent for a pleasant match, and even deciding on the membership’s house and away strips for the 2020/2021 season.
Barcelona followers used the tokens to vote on the position of a fan-designed paintings within the staff dressing room, whereas Juventus followers had a say in selecting the membership’s new celebration music. Holders of AS Roma’s fan token had been even in a position to ask questions of the staff’s head coach throughout a stay press convention.
Chiliz tokens are accessible by means of the Socios.com app, which has reportedly been downloaded 450,000 instances, producing token gross sales exceeding 14 million in quantity.
Many Chiliz tokens have since been listed on the Binance cryptocurrency trade, which initially launched a staking program for numerous tokens, earlier than opening up direct trading in opposition to Bitcoin (BTC) and Tether (USDT).
Casper Stylsvig, chief income officer of AC Milan, mentioned the choice to make use of blockchain expertise was motivated partly by a need to achieve additional outreach to the membership’s 450 million world followers — a job made all of the extra essential throughout COVID-19 lockdown:
“We’re completely happy to hitch arms with Socios.com and welcome them to our household as a worldwide associate. This partnership permits us to provide our 450 million followers internationally one other thrilling option to work together with AC Milan, which is especially essential beneath the present circumstances created by the Covid-19 pandemic.”
Alexander Dreyfus, founder and CEO of Chiliz and Socios.com, mentioned he hoped to determine fan-tokens as the first fan-engagement instrument and expects it to turn into a brand new income generator within the sports activities area:
“Followers of the I Rossoneri (AC Milan) will be capable of take pleasure in unprecedented engagement with their favorite staff, influencing the membership in polls, accessing VIP rewards, unique promotions, chat boards and far more.”
Socios claims to have generated $30 million in income for golf equipment and companions in little over 12-months because it launched. Its FC Barcelona (BAR) fan token sale offered out to the tune of $1.2 million in just 2 hours in June 2020, whereas commerce volumes of the Juventus (JUV) and Paris Saint-Germain (PSG) tokens exceeded $300 million inside days of being listed on Binance.