World’s first exchange for sports token lists its first coin

  • The world’s first crypto exchange for sports tokens has just listed its first coin, created by Juventus.
  • The new JUV Fan Token saw quite a bit of popularity, surging by 4% in the five hour-period after listing.
  • Chiliz, now aims to keep listing tokens, and end the year of 2020 with around 50 of them in total.

In the last several years, the cryptocurrency industry started expanding and connecting with plenty of others. Online gaming and betting quickly accepted it, but so did the sports industry. Plenty of its major players opted to accept BTC payments over the years.

Some even decided to launch their own coins, as the crypto industry continued to evolve. However, there was a clear lack of a platform dedicated to such coins, until now.

Sports coin platform Chiliz list its first token

Now, a new company that calls itself the world’s first crypto exchange for sports token just listed its first coin. The company’s name is Chiliz.net, and it is a sports blockchain venture and exchange from Singapore.

As for its first supported token, its name is Juventus Fan Token (JUV). This is a coin released by Juventus, a professional soccer club from Italy. The club released its coin in partnership with a platform Socios.com, a business that focuses on sports tokens.

The move is important for the crypto industry as it marks the appearance of a new tradeable class of crypto assets. According to Chiliz’s announcement, the exchange will act as the first platform for digital assets around the world. As the first of its kind, it will determine the asset prices by market demand. The demand will, in turn, change according to different factors, such as sports results, sentiment, and more.

It is also worth noting that JUV token spiked by nearly 4% after its launch at 3.00 PM CET yesterday. However, Chiliz’s own token, CHZ, also dropped by the same amount. Interestingly, the majority of JUV’s volume of $200,000 came from Turkey, Japan, and Italy.

50 more tokens by the end of the year

With the launch being a success, Chiliz now plans to continue listing new sports tokens. The platform announced that it aims to list quite a few of them by the end of 2020. It said: “Fan Tokens for FC Barcelona ($BAR) Paris Saint-Germain ($PSG), Atlético de Madrid ($ATM), A.S. Roma ($ASR), Galatasaray ($GAL) CA Independiente ($IND) and esports giants OG ($OG) will go live on Chiliz.net in the coming months. Trading of many more Fan Tokens from the world of sports & entertainment is expected in 2020.

The company’s CEO, Alexandre Dreyfus, even revealed plans to list as many as 50 different sports coins in 2020.

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