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Binance Lists Fan Tokens By Chiliz

Binance, the world’s largest cryptocurrency exchange, is listing fan tokens by a major sports-focused token platform, Chiliz.

It has been reported that Binance Launchpool, a platform allowing users to stake tokens for up to 30 days to earn rewards, will soon feature three more sports fan tokens: Dota 2 esports team OG, Atlético de Madrid Football (ATM), and AS Roma Football Club (ASR).

The @Binance launchpad is firing up for 2021. It will soon list fan tokens for Dota 2 esports team OG, Atlético de Madrid Football (ATM), and AS Roma Football Club (ASR). — Cointelegraph (@Cointelegraph) December 24, 2020

However, as part of the new allocations, Binance users are able to stake Binance Coin (BNB), Binance Dollar (BUSD), and Chiliz (CHZ) against OG, ATM, and ASR fan tokens right from December 24 up to January 23, 2021.

The report said that starting from December 30, Binance will also list OG, ATM, and ASR in its Innovation Zone and open trading against major cryptocurrencies like Bitcoin (BTC) and Tether (USDT). The upcoming trading pairs include OG/BTC, OG/USDT, ATM/BTC, ATM/USDT, ASR/BTC, and ASR/USDT.

Changpeng Zhao (CZ), the CEO of Binance, said that traditional sports and esports industries are more actively exploring and engaging in the crypto industry.

CZ added:

“Fan tokens have been well-received by our users, and we are happy to work closer with Chiliz to continue providing access to them.”

Likewise, the latest development brings the second phase of the collaboration between Binance and Chiliz after the two companies announced a strategic partnership on December 14.

In conjunction with the announcement, Binance announced the listing of Chiliz fan tokens for Paris Saint Germain (PSG) and Juventus (JUV) football clubs on its Binance Launchpool.

Moreover, Alexandre Dreyfus, the CEO and founder of Chiliz and its affiliate startup Socios, said that the companies expect to add “many more partners from the sports and entertainment space in the near future.”

Dreyfus noted that the collaboration intends to boost the industry’s digital transformation, fan engagement, and monetization ecosystem.

Thus, Chiliz and Socios have been actively expanding their leadership as global fan token providers, as in August 2020, Chiliz and Socios announced plans to launch a Visa debit card featuring fan tokens for major teams like FC Barcelona.

Source: Cointelegraph



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