Blockchain sports firm Chiliz has announced a partnership with Lagardère Sports and Entertainment. The partnership with the major marketing agency is expected to bring the Socios blockchain-based fan tokens into the NFL and MLB sports leagues.
Chiliz Eyes Fan Tokens for $75 Billion U.S. Sport Industry
In a press release published on the Chiliz Medium page on Monday (February 17, 2020), the blockchain sports company announced a partnership deal with the global marketing agency Lagardère Sports and Entertainment. The deal is expected to facilitate the push of the firm’s blockchain-based fan token (CHZ) into mainstream sports across the U.S. and Europe.
The deal gives Lagardère Sports permission to provide sports rights holders worldwide with the opportunity to widen fan interaction and tap into an extra revenue stream by using Chiliz’s innovative blockchain technology.
Commenting on the partnership, the CEO of Chiliz and Socios.com, Alexandre Dreyfus remarked that:
“We have been very clear in communicating our goal to onboard 50 IPs to the Socios.com app in 2020 and I look forward to working hand-in-hand with Lagardère Sports to help us achieve that target, targeting Lagardère’s extensive network of athletes, clubs, federations and sports leagues to build the future of fan engagement for rights holders across Europe and the US.”
Chiliz will be hoping that its entry into MLB and NFL franchises will see a similar level of success as its venture into European football. Both the MLB and the NFL are among two of the largest players in the $75 billion U.S. sports industry.
According to Dreyfus, Lagardère Sports already has strong commercial partnerships with popular MLB and NFL players like Terell Suggs and Kendall Fuller from the current Superbowl Champions – Kansas City Chiefs. Chiliz will be hoping to leverage these relationships into building a broad-based adoption of its fan tokens.
Chiliz Spearheading Blockchain Adoption in Sports
As previously reported by BTCManager, Chiliz and its Socios.com platform has been at the forefront of using crypto tokens to promote fan engagement for popular European football clubs. Teams like FC Barcelona, PSG, Galatasaray, and Juventus among others already have fan tokens in partnership with Chiliz.
The blockchain startup is also working on modalities to create a vibrant fan token economy with several fan token offerings (FTOs) as well as partnership deals with major crypto exchanges like Binance.