ChiliZ, a digital currency for sports entertainment platforms is aiming to become the first blockchain platform to become involved with football in the English Premier League. The cryptocurrency platform revealed plans to introduce a partnership with a Premier League club by the end of the year and also targets more clubs in the coming months.
ChiliZ powered platform Socios.com is a solution for any football club to monetize their fan base via a custom Fan Token Offering (FTO). Currently, partners with Italian giants Juventus and French champion Paris Saint Germain, the platform website states for more partnerships to come.
Plans to partner with Premier League clubs were shared by CEO of ChiliZ Alex Dreyfus while in conversation with BlockPublisher. He reported that ChiliZ is in negotiation with a few of the top Premier League clubs currently and an announcement is to be expected near the end of October. He said:
Our product, Socios.com, already signed Paris Saint-Germain and Juventus, and we will announce soon our Premier League teams and La Liga, etc … to have teams onboarded on Socios.com platform.
The world of football, especially in the most watched league in the world, the Premier League is yet to find grounds in the blockchain world. No club has actively participated in blockchain or cryptocurrency based businesses or endorsements. The only recent involvement was made when seven clubs signed an advertising deal with UK based crypto trading platform eToro. These clubs included big names Tottenham Hotspur, Crystal Palace and 2016 winners Leicester City.
ChiliZ will become the first non-UK group to sign with a Premier League side if their plans make ground. Alex was greatly adamant that in targeting top Premier League teams, they will be able to bring on board 2-3 clubs in the imminent future. He said:
“[but] we will have probably 2-3 [teams signed up] by end of the year.”
The ChiliZ (CHZ) token is an ERC-20 token based on the Ethereum blockchain which fuels exchange in blockchain backed platforms and provides specific interest in sports based projects via its Socios setup. It is geared towards providing a new layer for fan engagement in entertainment and sports while also developing an alternative payment solution. The extent of their planned prospect with Premier League clubs is yet to be seen.