AC Milan employs blockchain to succeed in 450 million followers amid COVID lockdowns

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

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

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

Up to now, soccer followers have used cryptocurrency tokens as a option to interact with their favourite groups in plenty of methods. Examples embrace followers of Cyprus-based membership, Apollon FC, selecting the staff’s first opponent for a pleasant match, and even deciding on the membership’s residence and away strips for the 2020/2021 season.

Barcelona followers used the tokens to vote on the position of a fan-designed art work within the staff 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 staff’s head coach throughout a dwell 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 need to achieve additional outreach to the membership’s 450 million world followers — a activity made all of the extra necessary throughout COVID-19 lockdown:

“We’re glad to affix arms with Socios.com and welcome them to our household as a world accomplice. This partnership permits us to provide our 450 million followers internationally one other thrilling option 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 software and expects it to change into a brand new income generator within the sports activities area:

“Followers of the I Rossoneri (AC Milan) will have the ability to take pleasure in unprecedented engagement with their favorite staff, influencing the membership in polls, accessing VIP rewards, unique promotions, chat boards and far 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 offered out to the tune of $1.2 million in simply 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.