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Chiliz earmarks $50m for launch of Fan Token crypto into US sports market

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March 3 – Blockchain business Chiliz is ploughing $50 million into the launch of its Fan Token cryptocurrency business into the US market, targeting clubs in America’s major leagues.

Fan Tokens are delivered via the Chiliz-owned Socios.com platform and allow fans to buy a share (Fan Token) that gives them various club rights from polling on club decision through to exclusive club offers. The shares are tradable on the Finance cryptocurrency exchange.

Fan Tokens generated more than $30 million in revenue in 2020 and the company expect to double that this year.

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The post Chiliz earmarks $50m for launch of Fan Token crypto into US sports market appeared first on Inside World Football.

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