According to a press release by Binance, the world’s largest cryptocurrency exchange by volume has just announced its new strategic partnership with a fintech blockchain company that provides sports and entertainment entities, Chiliz.
The first milestone of the partnership will be the allocation of Chiliz fan tokens for Paris Saint Germain (PSG) and Juventus (JUV) football clubs through Binance Launchpool.
With Binance Launchpool, users are able to acquire new token rewards in return for staking different tokens, just before those assets are listed in Binance’s innovation zone. This provides an instant marketplace for farmed assets.
Starting from 15 December 2020 at 0:00 AM (UTC) to 14 January 2021 at 0:00 AM (UTC), users will be able to stake BNB, BUSD, or CHZ tokens into separate pools. Binance will list PSG or JUV in the innovation zone and open trading pairs between each of these fan tokens and BSB, BUSD, and CHZ, at 06:00 UTC on 21 December.
Binance was known as an early investor in Chiliz, and the exchange’s partnership with additional investments into the leading venture in the fintech sports space ensures partnership vision for the longer term future.
“Chiliz became a part of the crypto world through Fan Tokens, which has shown huge potential in bringing crypto to mainstream audiences all around the world,” said Binance CEO and Founder, CZ (Changpeng Zhao). “We’re delighted to welcome Chiliz to the Binance ecosystem and look forward to empowering both fan engagement and crypto adoption among a captive audience of billions”.
Meanwhile, Chiliz CEO Alexandre Dreyfus also added to that:
“Binance has been a strong supporter of Chiliz since day one, but this new partnership really seals our original vision of tokenizing the sports & entertainment industry over the next 5-7 years.
Sports has been a popular industry for blockchain integration as several prominent sports clubs such as FC Barcelona, Juventus, Paris Saint-Germain, etc., have stepped up to introduce their own tokens for use by fans and spectators of sports events. Socios.com, a fan influence and rewards app operated by Chiliz, has partnered with these clubs to help onboard and sell their tokens on its platform.
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