Juventus launched its cryptocurrency, an event that could be interpreted as part of the first steps towards an inevitable tokenization of the colossal financial ecosystem of football, and of sport in general.
The CEO of Chiliz ($ CHZ) – the company behind Socios – provides an overview of the integration of blockchain and cryptos in the football and sports industry in general. He obviously did not fail to share the journey of his business – his vision, his objectives and his current projects.
$ CHZ is the first crypto dedicated to the world of sport and entertainment. This cryptocurrency currently allows to buy token fans from partner sports clubs of Socios.com.
The platform Socios.com now offers tokens fans of sports clubs recognized as the Juventus (($ JUV), Galatasaray (($ GAL) or the Paris Saint Germain (($ PSG).
Alex Dreyfus, CEO of Chiliz, claims 100,000 users for the app Socios.com, Barely 3 months after its launch.
Socios.com use blockchain $CHZ for transactions and token fans can only be purchased with $ CHZ. A virtuous circle dynamic, which we can recognize an obvious relevance.
The $ CHZ can be purchased on crypto-exchanges like Binance, HitBTC, Bitmax, IDEX or Kucoin.
It can be purchased with Bitcoin ((BTC) sure Binance and HitBTC and, with someEthereum ((ETH) sure IDEX. It can also be acquired with Binance Coin ((BNB) and Tether ((USDT) on the exchange of Changpeng Zhao. Among these 3 crypto platforms, only HitBTC currently allows its users to purchase $ CHZ with dollar.
For Dreyfus, sport and cryptocurrency, the perfect duo
In an interview for the benefit of the media Cointelegraph, Alex Dreyfus answered a few questions around the tokenization of sport and the entertainment industry.
For the fans, by the fans
Dreyfus recalls in particular the value brought by tokens fans to their holders. The tokens fans of a sports club, allow their owners to vote on essential matters affecting the life of the club.
Fans of the Juventus from around the world were able to use their $ JUV to choose a new stadium goal celebration song Allianz.
Holders of tokens fans can also earn rewards points – literally reward points – which will entitle them to certain privileges, as a unique experience with their clubs or the collection items offered by the latter.
Vibrate the soul of collectors …
Chiliz is currently working on its strategy ” NFT & Collectibles ” The company is creating licensed collectibles that will be attached to the $ CHZ. But in addition to this right to vote and these rewards points, Dreyfus specifies that his company intends “To significantly increase the community function” of Token fans in the “near future”.
… and make the eyes of the investor shine
But the tokens fans also have a attractive financial potential. They have a fixed price during the Fan Token Offering ((OTF) but, their price may then vary depending on a number of factors, once the tokens become tradable. Dreyfus take the example of $ GAL of Galatasaray which can fluctuate if the club signs a major contract or if a star player is injured. An API will allow fans to track fluctuations in tokens fans.
Chiliz or Socios.com – in this context it is the same – started working with football clubs. “It’s the number one sport in the world, with around 3.5 billion people worldwide claiming to be football fans”, indicates Dreyfus.
Socios.com targets 50 partners, football clubs or teams from other sports, by the end of 2020.
Chiliz is about to add a large cricket team to its list of partners, and the company has also entered into discussions with baseball teams and clubs from other sports.
Football first, then the world?
However, cryptocurrency $ CHZ is not the preserve of the sports industry. The company is open to all sectors – like the entertainment, music and television industries – who would look for a way to increase the engagement of their fans around the world, with their brands.
Dreyfus also spoke about the growing popularity of crypto in the sports industry in recent years.
He mentions in particular the fact that the NBA and the MLB would have launched tokenized collectibles, or the use of blockchain by other sports teams, for the purpose of sponsorship.
The blockchain was used in the context of crowdfunding aimed at funding athletes. Smart contracts have solved “Delicate issues” related to the contracts of professional athletes.
Blockchain also solves specific problems related to Ticketing. The Coin Tribune had written an article on the tokenization of tickets on the blockchain forEURO 2020, in order to prevent fraud and better regulate the resale of tickets.
Do Token Fans Have the Same Potential as Bitcoin, Can We Expect a 3- or 4-Digit $ JUV or $ GAL in 5-10 Years? After all, this type of cryptocurrency relies on sports industries that weigh hundreds of millions, even billions of dollars.
Those who missed the opportunity to accumulate cheap Bitcoin during the first hours of the dean of cryptos may have the opportunity to catch up. The biggest holders of tokens fans of a football club, could very well not be fans of this club but, cryptophiles who will have understood very early on the financial potential of these tokens who would however like to be above all community.
Litecoin, welcome in the Silver Age