Chiliz, a European-focused blockchain sports platform, has announced they will be listing Man City ($CITY) Fan Token on Chiliz Exchange.
According to reports, Chiliz will list the Man City Fan Token ($CITY) on the Chiliz Exchange starting from Tuesday, May 25, 2021.
The announcement also revealed that deposits are open and that trading will begin on May 25, 2021, at 13:00 CEST. Interested users were also advised to view the CITY/CHZ trading pair on the Chiliz exchange website.
— Chiliz ($CHZ) (@Chiliz) May 24, 2021
Besides, the premier league champions and UEFA champions league finalist joins other sports team who have already listed their fan tokens on Chiliz exchange. These include FC Barcelona ($BAR), AS Roma ($ASR), Atlético de Madrid ($ATM), Paris Saint-Germain ($PSG), AC Milan ($ACM). As well as, the Professional Fighters League ($PFL).
Alexandre Dreyfus, the CEO of Socios.com and Chiliz also commented on the announcement saying:
Tomorrow, the @premierleague Champion and the @ChampionsLeague Finalist are being listed exclusively on @Chiliz and @socios. This is just the beginning of the journey for @ManCity Fans from all over the world. #bemorethanafan https://t.co/6BCWv5YXzm
— Alexandre Dreyfus (@alex_dreyfus) May 24, 2021
Chiliz’s Value Proposition for Football Clubs
Football clubs have been hit financially as a result of the COVID-19 restrictions, which prevent fans’ presence during games. According to Joseph Edwards, head of research at cryptocurrency brokerage Enigma Securities, joining Chiliz can be a great avenue for these clubs to boost their revenue. With the rise of crypto markets, football clubs can gain from their integration with Chiliz.
Edwards said: “Fan tokens right now are just hitting the perfect pitch at the perfect time – fans are disconnected physically from their fandom, and this helps bridge that gap.”
“It should be said that Socios have usually been very clever with these launches – I can’t think of any that were headline failures. Even in the overall crypto bear market – but there’s a reason that they’ve been stepping them up as of late. It just hits right in the current moment that sports entertainment finds itself in,” he added.
Giorgio Ricci, Chief Revenue Officer at Juventus, says that the popularity of fan tokens represents a tangible connection between the clubs and their fans. He says, “(It) is not just a short-term fix to the problems brought on by the pandemic. It’s a solution to the longer-term issue of how to engage with the 99% of fans that aren’t able to watch games from the stadium or ever set foot in Turin. In normal circumstances, our stadium holds 41,000 people, but recent estimates suggest our global fanbase is around 400 million, many of whom are thousands of miles away.”
As of the time of publication, Chiliz price was $0.245775 with a 24-hour trading volume of $334,594,661. CHZ price also increased by 1.2% over the last 24 hours. Besides, it has a circulating supply of 5.3 Billion CHZ coins and a max supply of 8.89 Billion.