The company issuing Socios fan tokens for football teams, Chiliz, has partnered with Chainlink to use their oracles for the issuance of NFT (non-fungible tokens) tokens in real-time.
The tokens will be placed on the market according to the data provided by Chainlink’s decentralized oracles. In addition, Chiliz will use Chainlink’s “Price Reference Contract” system to get the best conversion price of its CHZ tokens into US dollars.
These data are gathered by Chainlink thanks to different APIs from exchanges and platforms and the aim is to provide Socios users with the best exchange price.
It should be remembered that Socios has already created fan tokens for football teams such as FC Barcelona, Juventus, Paris Saint-Germain, Atlético de Madrid, Galatasaray, A.S. Roma, CA Independiente, as well as for gaming tournaments for games like Dota 2.
In fact, the goal of Socios and Chiliz would not only be to create fan tokens for football teams but also for other sports and gaming.
In early February, Chiliz had also partnered with Enjin to issue tokens on the Ethereum blockchain.
In the press release released today, Alexandre Dreyfus, CEO and Founder of Chiliz and Socios.com explained:
“NFTs will be key to expanding the utility of $CHZ in 2020 and beyond. We’ve already got an amazing roster of partners and will be adding many more as the year progresses, creating multiple opportunities to mint limited-edition licensed collectibles. The Chainlink integration enables us to be responsive to real world sporting events in real time, allowing us to mint limited availability NFTs to commemorate moments that can’t be predicted or recreated, giving these tokens real collectors value.”
Recently, another similar project was launched by Sorare for a sort of blockchain-based fantasy football with ERC721 NFTs.