One collaboration between sports teams and cryptocurrency which has seen quite an increase has been Chiliz- a blockchain network. The network has been the biggest support behind the engagement platform of Socios.com. The current year has already seen a large number of high-profile partnerships taking place between major sporting leagues and the cryptocurrency sector.
Nowadays, many athletes engage with the fans by bringing out limited edition NFTs, and other perks that are usually associated with blockchain technology and cryptocurrency.
Chiliz and fan token support
Most of the crypto companies have also been imprinting themselves by stitching their names on jerseys, buying the rights to name stadiums, along paying for some cleverly executed primetime commercials between important game breaks.
According to data that was received from TradingView and Cointelegraph Markets Pro, it has been seen that there was a low of $0.243 on the 29th of September with the price of Chiliz spiking to a sum of 171% to a daily high of around $0.657 on the 31s of October. Recent developments have also been pushing the price back toward the high it came from.
There are quite a few reasons for Chiliz to be growing exponentially which also includes the launch of a live-in game NFTs, along with recent exchange listings for the blockchain. The chain network has also put out its newly released fan tokens which would simply assimilate with the rapidly improving ecosystem of partners.
One reason why Chiliz has been adding to its momentum has been the addition of a few exchange listings, with fan tokens released for clubs like Sao Paulo FC, Manchester City, and AC Milan. Along with the listings, Binance has also allowed the fans to earn their tokens from their favorite teams through Binance USD or Binance Coin.