Blockchain sports company Chiliz is expanding in the US with a $ 50 million investment

Big blockchain sports company Chiliz plans to expand in the US by $ 50 million. announced on Tuesday CEO Alexandre Dreyfus.

Dreyfus told Cointelegraph that the company will open an office in New York and work with local leagues and sports franchises.

New York is “the headquarters of the US sports industry,” said Dreyfus, emphasizing that the new office will be critical to Chiliz’s global expansion.. In a Reuters interview, Dreyfus said the company was preparing to launch fan tokens with franchises from the top five US sports leagues.

Blockchain sports company Chiliz is expanding in the US with a $ 50 million investment
Blockchain sports company Chiliz is expanding in the US with a $ 50 million investment

Chiliz has generated millions in revenue for some of the largest sports organizations in Europe. “We’re sharing more than $ 30 million with our partners in 2020, but this year we’re aiming for a minimum of $ 60 million,” said Dreyfus.

Based in Malta, Chiliz has many years of experience in delivering fan tokens to popular European football clubs such as FC Barcelona, ​​Juventus and Paris Saint-Germain. By issuing blockchain-based fan tokens at Chiliz, sports organizations and clubs can unlock new experiences with fan engagement such as fan voting and direct communication with the players.

Working closely with their Socios fan engagement platform, Chiliz is known to partner with some of the largest companies in the cryptocurrency industry. In late 2020, Chiliz announced a partnership with Binance, the world’s largest cryptocurrency exchange, to list the fan tokens of various European clubs on Binance’s Launchpool platform.

Joseph Edwards, head of research at Enigma Securities, a cryptocurrency broker, believes Chiliz’s entry into the US is timely due to COVID-19 restrictions. “The fan tokens just hit the perfect itch at the perfect time right now: the fans are physically separated from their fandom, and this helps fill that void,” Edwards said in a Reuters report.

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