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AC Milan employs blockchain to reach 450 million fans amid COVID lockdowns

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European soccer big AC Milan is the newest sporting group to leap on the blockchain bandwagon after it announced the upcoming launch of the $ACM fan token on the Chiliz (CHZ) blockchain.

With the launch anticipated to begin within the coming weeks, ACM token holders will be capable to use their tokens to redeem varied unique rewards and participate in interactive actions with the membership and gamers.

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The addition of AC Milan takes the variety of sporting organizations on the Chiliz blockchain to twenty. These embody fellow European soccer heavyweights FC Barcelona, Paris Saint-Germain, AS Roma, and Atletico Madrid, in addition to varied e-sports groups, and leading MMA organization, the UFC.

Previously, soccer followers have used cryptocurrency tokens as a method to interact with their favourite groups in a lot of methods. Examples embody followers of Cyprus-based membership, Apollon FC, selecting the crew’s first opponent for a pleasant match, and even deciding on the membership’s dwelling and away strips for the 2020/2021 season.

Barcelona followers used the tokens to vote on the location of a fan-designed paintings within the crew dressing room, whereas Juventus followers had a say in selecting the membership’s new celebration tune. Holders of AS Roma’s fan token had been even capable of ask questions of the crew’s head coach throughout a stay press convention.

Chiliz tokens are accessible by the Socios.com app, which has reportedly been downloaded 450,000 occasions, producing token gross sales exceeding 14 million in quantity.

Many Chiliz tokens have since been listed on the Binance cryptocurrency alternate, which initially launched a staking program for varied tokens, earlier than opening up direct buying and selling in opposition to Bitcoin (BTC) and Tether (USDT).

Casper Stylsvig, chief income officer of AC Milan, mentioned the choice to make use of blockchain know-how was motivated partly by a want to achieve additional outreach to the membership’s 450 million international followers — a job made all of the extra necessary throughout COVID-19 lockdown:

“We’re blissful to hitch arms with Socios.com and welcome them to our household as a world companion. This partnership permits us to offer our 450 million followers the world over one other thrilling method to work together with AC Milan, which is especially necessary underneath the present circumstances created by the Covid-19 pandemic.”

Alexander Dreyfus, founder and CEO of Chiliz and Socios.com, mentioned he hoped to determine fan-tokens as the first fan-engagement instrument and expects it to grow to be a brand new income generator within the sports activities enviornment:

“Followers of the I Rossoneri (AC Milan) will be capable to get pleasure from unprecedented engagement with their favorite crew, influencing the membership in polls, accessing VIP rewards, unique promotions, chat boards and rather more.”

Socios claims to have generated $30 million in income for golf equipment and companions in little over 12-months because it launched. Its FC Barcelona (BAR) fan token sale bought out to the tune of $1.2 million in just 2 hours in June 2020, whereas commerce volumes of the Juventus (JUV) and Paris Saint-Germain (PSG) tokens exceeded $300 million inside days of being listed on Binance.