The European soccer giant AC Milan is the latest sports organization to enter the blockchain world. The team announced the launch of the $ ACM fan token on the Chiliz (CHZ) blockchain.
The premiere is to begin in the coming weeks. ACM token holders will be able to exchange them for various prizes and take part in interactive actions with the club and players.
Twentieth club in the ranks of Chilliz
AC Milan will be the twentieth club introduced to the Chilliz blockchain. Other European football teams had already entered into partnership with the platform, including FC Barcelona, Paris Saint-Germain, AS Roma and Atletico Madrid, as well as various esports teams and the leading MMA organization UFC.
In the past, soccer fans have used tokens as a way to connect with their favorite teams. An example may be the fans of the Cypriot club Apollon FC, choosing the first opponent for a friendly match, and even deciding on the club’s outfits.
Barcelona fans used the tokens to vote to put graphics designed by fans on the team’s shirts. Juventus fans had an influence on the choice of the club’s new song. AS Roma token holders were able to ask questions to the team’s head coach at a live press conference.
Cooperation with Binance
Chiliz tokens are available through the Socios.com app. The app has been downloaded 450,000 times, generating more than $ 14 million in token sales.
Many Chiliz tokens have since been introduced to the Binance exchange, which initially launched a staking program and then opened up the opportunity to trade in pairs with Bitcoin (BTC) and Tether (USDT).
Casper Stylsvig, director of revenues for AC Milan, said the decision to use blockchain technology was driven in part by a desire to gain more reach – a task that became even more important during the COVID-19 pandemic:
We are happy to join hands with Socios.com and welcome them to our family as a global partner. This partnership allows us to give our 450 million fans around the world another exciting way to interact with AC Milan, which is especially important in the current conditions created by the Covid-19 pandemic.
Alexander Dreyfus, founder and CEO of Chiliz and Socios.com, said he hopes to turn fan tokens into the main fan engagement tool and expects it to become the new revenue generator in the sports arena:
I Rossoneri (AC Milan) fans will be able to enjoy the unprecedented commitment of their favorite team, influencing the club in polls, accessing VIP rewards, exclusive promotions, message boards and much more.
Socios says it has generated $ 30 million in revenues for clubs and partners in just over 12 months of starting operations. FC Barcelona (BAR) token sales in June 2020 took just two hours, while Juventus (JUV) and Paris Saint-Germain (PSG) token trading exceeded $ 300 million within days of entering Binance.