Binance and chiliZ Join Hands To Tokenize Sports Industries

Are you a sports lover and a Blockchain enthusiast? Well, this news is for you. One of the largest crypto exchanges, Binance has partnered with Malta-based firm, chiliZ, to invest in their new tokenization platform for the esports and sports industries.

Via this newly announced association, chiliZ is planning to build a platform that allows both esports and sports entities to tokenize their voting rights to their fan bases.

From the official Press Release

“Both companies believe that the video gaming space — a $110 billion industry, and bigger then than the global movie and music industries combined — will be one of the next major industries to adopt blockchain services and that mainstream consumption will become more viable with its 300mm esports fans. The two industries share similar user/audience demographics — well connected, educated and fairly affluent millennials, with a knowledge and interest in virtual currencies, and experience in trading digital assets.

Although the chiliZ platform will commence with esports teams and leagues, Binance and chiliZ will work hand-in-hand to engage with the sports industry and develop a fan-driven token ecosystem for traditional sports teams, and scaling the concept of “Socios” all over the world.”

This new handshake looks like quite fruitful for both the firms as it will enable the sharing of technical knowledge, innovation, and creativity. The two companies are planning to build a strong cluster and regulated ecosystem of innovative fintech and blockchain companies in the entertainment space, especially the sports and esports domain.


Binance CEO & Founder, Changpeng Zhao said: “chiliZ is a creative way to embrace blockchain technology, aimed at building tools and services for mainstream adoption in industries that have a massive global growth rate. We are thrilled to support the team behind the project, and to help make them a success.”

This is worth-noticing that Binance has over 9 million users and $1.5 billion daily average volume of investment on its platform. Now, the support of such a popular platform and enormous userbase will surely attract a handsome number of people interested in sports tokenization. Well, hope for the best!