Binance sport investment: agreement between the exchange and ChiliZ, a Maltese platform that manages the voting rights of fans.
The Maltese sports platform ChiliZ announces that it has reached an agreement with the large exchange Binance, with over 9 million users and 1.5 billion daily transactions, and the latter is committed to investing in the development of the Maltese company.
Inspired by the model of Socios, the structure that manages the fans of teams such as Real Madrid and Barcelona, ChiliZ is a platform that allows sport and e-sport organizations to tokenize the voting rights of their fans.
The companies are betting on the sports market, but mainly they bet in the video game world, a sector with a value of 110 billion dollars, more than the sum of the cinema sectors and music majors put together, and that will be the next target in the adoption of blockchain, with more than 300 million fans scattered around the world.
The collaboration is also stimulated by the fact that the customers of the exchanges and e-sports have many similar characteristics: in both cases, in fact, they are millennials with a medium-high education, a high interest in virtual currencies and experience in trading.
The two companies will share the tasks, while continuing with a high operational coordination and, while ChilliZ will develop the technical platform, the marketing of tokens will take place cooperatively on both sides. This is of great importance given the size of the client base of the exchange.
The Maltese company is in its second round of financing, having already secured EUR 27 million in a first phase reserved for private investors.
ChiliZ’s CEO, Alexandre Dreyfus, said that Binance’s intervention will complete the private financing round and thus speed up the development of the platform.
For the exchange, which recently moved to Malta, it is also a way to integrate into the local technological environment that has long been hosting very interesting initiatives in the blockchain.