Binance, the world’s largest cryptocurrency exchange by trading volume, notes yet another batch of fan tokens from a major sports-focused token platform, Chiliz.
According to a December 23 executive order, Binance Launchpool – a platform allows users to stake tokens for up to 30 days to earn rewards – will soon include three more sports fan tokens: Dota 2 esports team OG, Atlético de Madrid Football (ATM) and AS Roma Football Club (ASR).
As part of the new awards, Binance users will be able to stake Binance Coin (BNB), Binance Dollar (BUSD) and Chiliz (CHZ) against OG, ATM and ASR fan tokens starting December 24 to January 23, 2021.
From December 30, Binance will also list OG, ATM and ASR in its Innovation Zone and open trading against larger cryptocurrencies such as Bitcoin (BTC) and Tether (USDT). The upcoming trading pairs include OG / BTC, OG / USDT, ATM / BTC, ATM / USDT, ASR / BTC and ASR / USDT.
Binance CEO Changpeng Zhao said traditional sports and sports industries are more actively exploring and engaging in the crypto industry. “Fan tokens have been well received by our users and we are excited to work closer to Chiliz to continue providing access to them,” Zhao added.
Recent developments bring the second phase of the collaboration between Binance and Chiliz after the two companies announced a strategic partnership on December 14th. In connection with the announcement, Binance announced a listing of Chiliz fan tokens for Paris Saint Germain (PSG) and Juventus (JUV) football clubs at its Binance Launchpool.
Alexandre Dreyfus, CEO and founder of Chiliz and its affiliate startup Socios, said companies expect to add “many more sports and entertainment partners in the near future.” Dreyfus noted that the collaboration aims to increase the industry’s digital transformation, fan engagement and monetization ecosystem.
Chiliz and Socios have actively expanded their leadership as global fan-token providers. In August 2020, Chiliz and Socio announced plans to start a Visa debit card with fan tokens for bigger teams like FC Barcelona. In July 2020, Brazil’s largest cryptocurrency exchange, Mercado Bitcoin, launched CHZ trade against the Brazilian reality. Formerly Chiliz and Socios sold $ 1.3 million worth of FC Barcelona’s fan tokens in less than two hours.