European football giant AC Milan is the latest sporting organization to jump on the blockchain bandwagon after it announced the impending launch of the $ACM fan token on the Chiliz (CHZ) blockchain.
With the launch expected to commence in the coming weeks, ACM token holders will be able to use their tokens to redeem various exclusive rewards and take part in interactive activities with the club and players.
The addition of AC Milan takes the number of sporting organizations on the Chiliz blockchain to 20. These include fellow European football heavyweights FC Barcelona, Paris Saint-Germain, AS Roma, and Atletico Madrid, as well as various e-sports teams, and leading MMA organization, the UFC.
In the past, football fans have used cryptocurrency tokens as a way to engage with their favorite teams in a number of ways. Examples include fans of Cyprus-based club, Apollon FC, choosing the team’s first opponent for a friendly match, and even deciding on the club’s home and away strips for the 2020/2021 season.
Barcelona fans used the tokens to vote on the placement of a fan-designed artwork in the team dressing room, while Juventus fans had a say in choosing the club’s new celebration song. Holders of AS Roma’s fan token were even able to ask questions of the team’s head coach during a live press conference.
Chiliz tokens are accessible through the Socios.com app, which has reportedly been downloaded 450,000 times, generating token sales exceeding 14 million in number.
Many Chiliz tokens have since been listed on the Binance cryptocurrency exchange, which initially launched a staking program for various tokens, before opening up direct trading against Bitcoin (BTC) and Tether (USDT).
Casper Stylsvig, chief revenue officer of AC Milan, said the decision to employ blockchain technology was motivated partly by a desire to gain further outreach to the club’s 450 million global fans — a task made all the more important during COVID-19 lockdown:
“We are happy to…