What Does the Partnership Mean & How Can Fans Take Advantage of It?
Chiliz ($CHZ) is a token available on both the Ethereum blockchain and Binance's blockchain with a limited token supply of 8,888,888,888 across both chains. The Chiliz token powers the website Socios.com which offers an array of sports related services. This mainly rewards sports fans for surveys and voting.
Earlier today Chiliz made a huge announcement which seems to have moved the markets. That was their new partnership with one of the leading soccer teams in the world FC Barcelona. Chiliz enthusiastically announced the partnership on Twitter and other social media channels.
Following the partnership, a new digital asset called Barca Fan Tokens ($BAR) was created and added to the Chiliz & Socios ecosystem. $BAR tokens can be traded in for official merchandise or exchanged with $CHZ on Socios's exchange. $BAR holders can also enjoy Fan Token trading, games and community challenges.
Josep Pont, FC Barcelona Board Member said: "We are proud to welcome Chiliz to the BarÃ§a family as a new global partner. This agreement will give us the chance to set up innovative marketing and partnership activations with a clear focus on the digital realm to take the Club closer to our fans around the world."
FC Barcelona is the 7th soccer team to be onboarded by Chiliz. Other teams include Juventus, Paris Saint Germain, Atletico Madrid, AS Roma, Galatasaray and London's West Ham.
Chiliz (CHZ) Climbs in Value
Following the announcement $CHZ climbed sharply in value. It has risen by roughly 50% in the last 24 hours in both BTC & USD valuations. It is currently trading at $0.017 and most of the trading volume comes from the exchange Binance.
The chart seems to confirm the connection between the announcement and the massive rally that Chiliz experienced. The announcement started at 10:00 AM UTC and at that time both the trading volume and the price of Chiliz increased dramatically.
If Chiliz manages to on-board more big names in the world of sports, we could see it possibly climb the rankings on coinmarketcap. While Chiliz and Socios seem focused on the European soccer market, their CEO, Alexandre Dreyfus, has teased the addition of cricket in the past.
In a twitter post from last December he explored the idea.
News: To support our Indian strategy and bring cricket into $CHZ @chiliz x @socios ecosystem, we are glad to announce that we are getting listed on Binance's leading Indian platform @WazirXIndia. Sports in India is a massive market and we will bring cricket in 2020.@NischalShetty https://t.co/zaLEsTt8te— Alexandre Dreyfus (@alex_dreyfus) December 20, 2019
Seeing that India has a massive population of 1.33 billion with many of them massive cricket fans, this could be a great development for Chiliz. The Indian National Cricket team is ranked second in the world behind England. Cricket is wildly popular in many former colonies of the UK with millions watching big matches across the globe.
Sports other than soccer & cricket are also being considered. Seeing the huge sports teams onboarded and the Chiliz' plans of expanding to other sports, we will probably hear a lot more about them in the future.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado