European football giant AC Milan is the latest sports organization to jump on the blockchain cart after that announced the upcoming launch of the $ ACM fan token on the Chiliz (CHZ) blockchain.
With the launch expected to begin in the coming weeks, ACM token holders can use their tokens to redeem various exclusive rewards and participate in interactive activities with the club and players.
The addition of AC Milan brings the number of sports organizations on the Chiliz blockchain to 20. These include fellow European football heavyweights FC Barcelona, Paris Saint-Germain, AS Roma and Atletico Madrid, as well as several esports teams, and leading MMA organization, the UFC.
In the past, football fans have used cryptocurrency tokens as a way to connect with their favorite teams in a number of ways. Examples include fans of the Cyprus-based club, Apollon FC, who choose the team’s first opponent for a friendly match and even decide the club’s home and away games for the 2020/2021 season.
Barcelona fans used the tokens to vote on the placement of a fan-designed work of art in the team’s dressing room, while Juventus fans had a say in the choice of the club’s new party song. Holders of AS Roma’s fan card could even ask questions to the team’s head coach during a live press conference.
Chiliz tokens can be accessed through the Socios.com app, which has reportedly been downloaded 450,000 times, making more than 14 million token sales.
Since then, there have been many Chiliz tokens mention on the cryptocurrency exchange Binance, which initially launched a stakeout program for various tokens, before direct trading against Bitcoin (BTC) and Tether (USDT).
Casper Stylsvig, AC Milan’s Chief Revenue Officer, said the decision to deploy blockchain technology was driven in part by a desire to further reach the club’s 450 million fans worldwide – a task that became all the more important during COVID. 19 lockdown:
“We are delighted to join forces with Socios.com and welcome them to our family as a global partner. Thanks to this partnership, we can provide our 450 million fans around the world with another exciting way to interact with AC Milan, which is especially important in the current circumstances caused by the Covid-19 pandemic. “
Alexander Dreyfus, founder and CEO of Chiliz and Socios.com, said he hoped to establish fan tokens as the main fan engagement tool and expects it to become a new revenue generator in the sports arena:
“Fans of the I Rossoneri (AC Milan) can enjoy unprecedented engagement with their favorite team, influence the club in polls, access VIP rewards, exclusive promotions, chat forums and much more. “
Socios claims to have generated $ 30 million in revenue for clubs and partners in just over 12 months since its launch. The FC Barcelona (BAR) fanatics sell-out sold out at a cost of $ 1.2 million in just 2 hours in June 2020, while trading volumes of Juventus (JUV) and Paris Saint-Germain (PSG) tokens more than $ 300 million within days of being listed on Binance.