Tokenization is a core aspect of digitization in finance. American sports fans may be able to interact with their teams through blockchain tokens in the near future.
Chiliz has Bold Plans
Improving fan engagement between sports teams and fans is crucial. There are many ways to achieve this goal using modern technology. For Chiliz, the business model revolves around tokenized sports-related items.
Following its partnership with Lagardere Sports and Entertainment, new options can be explored. This partnership will give Chiliz an option to enhance its Socios fan interaction system. Adding new sports teams and federations is a crucial aspect in this regard.
Two core leagues to be explored include the NFL and MLB. Both federations represent dozens of teams. Each team has an average valuation of billions of dollars. These sports franchises are incredibly popular on a global scale as well. For Chiliz, gaining a presence in the US market will be of great value.
Going Beyond Soccer
The Socios platform has proven to be of great interest already. Soccer fans can obtain blockchain-based tokens to engage with their teams. One of the core partners of Chiliz in this segment is FC Barcelona. With millions of fans worldwide, the blockchain-based assets can reach a big audience.
Other noteworthy teams exploring the platform include West Ham united and Atletico de Madrid. By adding American sports franchises to the list, Chiliz aims to become a global powerhouse for blockchain-based fan engagement tokens. None of these sports teams would be where they are today without their fans, after all.
Chiliz allegedly serves over 120,000 users worldwide already. By forging key partnerships, that number will increase rapidly. The company expects to announce further partnerships throughout 2020 and beyond.
Eventually, the company hopes to partner leading telecom operators, tech firms, phone makers, and media groups. Very ambitious plans, but such an attitude is necessary to survive.