- AC Milan would be the first club to launch their NFTs with Fan Token creators, Chiliz.
- Chiliz is ready to deploy their NFT strategy.
Chiliz, created by the eponymous Malta-based FinTech provider, is the leading digital currency for sports and entertainment. It runs the blockchain-based sports entertainment platform Socios, which allows users to vote on the governance of their favorite sports brands. Socios.com’s multiple fan tokens are an example of this. Fan tokens allow sports clubs and associations to connect with their fans while also unlocking new revenue streams.
For example, through surveys and polls, fans can participate in and influence club-related decisions such as what messages the captain should wear on his armband. The company’s goal is to bridge the gap between active and passive fandom. Chiliz has formed alliances with some of the world’s most prestigious sporting organizations, including FC Barcelona, Manchester City, Juventus Turin, and Paris Saint-Germain. It also has affiliations with the UFC and gaming organizations. By purchasing CHZ, fans gain access to various fan tokens and effectively own a stake in their club.
ACM Launches NFTs
In a recent update from Chiliz, it was announced that they were ready to deploy their NFT strategy. Furthermore, it was also gathered that AC Milan would be the first club to launch their NFTs with Fan Token creators, Chiliz.
The debut will take place on Sunday (31/10), when 100 limited editions of NFTs will be minted to commemorate the most significant AC Milan moment from their game with Serie A opponents and fellow Socios.com partners A.S. Roma. The NFTs will eventually be dropped to $ACM Fan Token holders.
The AC Milan NFT launch will be the first of many similar releases with the club and other Socios.com partner clubs, boosting the options for Fan Token holders to be rewarded through the app and completely integrating NFTs as part of the Socios.com offering. Additionally, NFTs minted for Socios.com partners will be tradable on any Ethereum based NFT marketplace.
The beginning of our NFT strategy has been deployed 👏
Utility is 🔑
— Chiliz ($CHZ) – Powering Socios.com ⚡ (@Chiliz) October 29, 2021
Non-fungible tokens, which have a wide range of practical applications in the sports business, are gaining a lot of traction. As a result, NFTs can have a significant impact on the sports world in a variety of ways while also providing tremendous benefits to sports participants.
Future of Chiliz
Chiliz still has a lot of projects in the works. It plans to capture the NFT space by storm. AC Milan NFTs are the first of their kind, and others are sure to follow.