Chiliz Launches Crypto Exchange for Trading Sports Fan Tokens

Malta-based sports blockchain venture Chiliz is launching a cryptocurrency exchange for sports and entertainment tokens.

In a press release shared with Cointelegraph on Jan. 23, Chiliz detailed that the new exchange - Chiliz.net - will roll out in February after the beginning of Fan Token Offerings? ?for all of the ?Socios.com? partner teams?.

Socios.com is a tokenized fan-voting platform for sports powered by Chiliz tokens.

Chiliz.net will be fully integrated with Socios.com, enabling users to transfer their fan tokens from a Socios wallet to the exchange, and vice versa.

Chiliz and Socios.com CEO Alexandre Dreyfus claimed that Chiliz.net will be the first crypto exchange that does not focus on traditional crypto products.

Users will be able to trade fan tokens for professional soccer teams Juventus?, ?Paris Saint-Germain?, Atlético de Madrid?, ?A.S. Roma?, ?Galatasaray? and ?West Ham United on the new exchange.

In March, the company plans to add support for OG Esports' fan token, OG.Soccer is by far the most popular sport on Earth.

In May 2019, Chiliz entered a strategic partnership with Binance Chain, the mainnet of major cryptocurrency exchange Binance.

At the time, Dreyfus noted that sports fans represent an addressable audience of billions globally, opening up the possibility of bringing blockchain to a wider audience via collaboration with the industry's global brands and household names.

Earlier in January, Dreyfus said that real mainstream utility tokens are far flung from the likes of Bitcoin and payments.