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Binance | Chiliz Announce New Strategic Partnership

Sports and entertainment entity provider Chiliz is now a Binance partner. By being a partner of the Binance ecosystem, Chiliz fan engagement and crypto adoption is expected to expand tremendously.

Binance Chiliz Announce New Strategic Partnership

Chiliz, one of the leading fintech platform for the sports industry announced a partnership with its early investor, Binance. According to the official announcement, Binance is also pouring in additional investment into the fintech platform. Interestingly, this will renew the strength and credibility of Chiliz. The partnership will begin with the allocation of Fan Tokens allocation through Binance Launchpool.

The first Chiliz platform to benefit from this partnership will be Socios.com. Basically, Socios.com is a platform enabling crowd-management of favorite teams for sports and esports fans. Moreover, major football clubs like FC Barcelona, Paris Saint-Germain, Juventus, Atlético Madrid, Galatasaray, West Ham, OG, and AS Roma have partnered with Socios. The football clubs are using the platform as a part of their fan engagement strategy by conducting Fan Token Offerings (FTO). Basically, Fan tokens are digital assets that provide membership and voting rights ownership to the fans.

How will Socios.com use Binance Launchpool?

With this partnership, Binance will introduce Juventus (JUV) and Paris Saint-Germain (PSG) Football Club Fan Tokens to Binance Launchpool. Furthermore, fans can farm JUV and PSG tokens. They can do so by staking Binance Coin (BNB), Binance USD (BUSD) & Chiliz Tokens (CHZ). The BNB, BUSD, CHZ staking to farm Socios.com Fan tokens will go live on Binance Launchpool from 15 December 2020. The tokens need to be staked in separate pools to farm the JUV and PSG tokens.

Furthermore, Binance will list PSG and JUV fan tokens in the innovation zone on 21 December 2020. The trading pairs available will be PSG/BTC, PSG/USDT, PSG/BUSD, JUV/BTC, JUV/USDT, and JUV/BUSD.

Alexandre Dreyfus, CEO & Founder of Chiliz, revealed that over the next few years Chiliz plans to onboard more partners from the sports and entertainment world. And this new strategic partnership will help Chiliz in achieving its original vision of tokenizing the sports and entertainment industry in the next 5-7 years.

Furthermore, Chiliz has some new features, gamification, leaderboards, and NFT-based events in the release pipeline for upcoming weeks.

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