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Binance partners with Chiliz to introduce PSG & JUV Fan Tokens
In the first milestone of this partnership, users will be able to stake their BNB or BUSD tokens, as well as Chiliz’s native $CHZ, in return for Paris Saint-Germain (PSG) and Juventus (JUV) tokens.
Binance Sporting Partnership
Cryptocurrency exchange Binance have today announced a strategic partnership with sports blockchain firm Chiliz to introduce Fan Tokens of two major sporting teams on their Launchpool platform.
Fan Tokens
Chiliz runs the blockchain fan-rewards platform Socios.com which has existing partnerships with sporting clubs such as Barcelona, Atletico de Madrid, AS Roma, Galatasaray, as well as Paris Saint-Germain and Juventus.The sites 370,000 users have the ability to purchase fungible Fan Tokens of their team in exchange for the platforms native $CHZ token. The platform also enables users to connect to their club in revolutionary ways, utilising their blockchain voting power to answer club questions such as new season kits, stadium design, as well as gain access to exclusive content.
European football giants Paris Saint-Germain (PSG) and Juventus (JUV) will be the first clubs to participate in this Fan Token venture. Binance users will gain future access to token rewards of these teams, in exchange for staking BNB, BUSD or CHZ tokens on the platform starting 15th December.
The launchpool rewards will consist of 210,000 JUV and 180,000 PSG with 70% sectioned for BNB pools, 20% to $CHZ and the remaining 10% to BUSD.
PSG and JUV tokens will then become available as individual assets in Binance’s Innovation Zone – an area of the exchange designed for users to discover and invest in new, exciting projects – against the pairs BTC (Bitcoin), USDT (Tether) and BUSD (Binance USD) starting 21st December.
CEO’s Comments
Binance CEO, CZ (Changpeng Zhao) remarked:“We’re delighted to welcome Chilliz to the Binance ecosystem and look forward to empowering both fan engagement and crypto adoption among a captive audience of billions”.
CEO of Chiliz, Alexandre Dreyfus said:
“Binance has been a strong supporter of Chiliz since day one, but this new partnership really seals our original vision of tokenizing the sports & entertainment industry over the next 5–7 years.
He continued onto say:
“With new features, gamification, leaderboards & NFT-based events being released in the coming weeks, Socios.com is the leading venture in this space.”
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