Atletico Madrid joins fan token blockchain project

Club Atlético de Madrid is collaborating with sports blockchain project Chiliz on launching a fan token. The Socios.com fan platform will offer fans merchandise, exclusive information and experiences in exchange for tokens. Chiliz announced that the fan token blockchain project will launch this Fall.

Atlético de Madrid Fan Tokens will be tradeable against Socios.com’s native token CHZ. Fans must first purchase CHZ through a cryptocurrency exchange, for example Binance. These tokens can also be bought within the app, and then switched for fan tokens. Each Atlético Madrid token will be priced at 2 euro. Fans can also earn tokens by doing tasks within the app.

In the past few months Chiliz has been very active at signing up clubs for their fan token blockchain project. Italian football clubs Juventus and AS Roma, French giants Paris Saint Germain and English clubs like West Ham United, Newcastle United and Southampton have already joined the platform.

Fan token as an introduction into crypto

Fan tokens are on the rise. Chiliz and their Socios.com platform are becoming a major player for the introduction of blockchain into football. The music industry is also thinking about introducing fan tokens. South Korean K-pop label SM Entertainment wants to start its own blockchain, while boxing legend Manny Pacquiao launched his own token last week. For many fans of these music artists, sports heroes and clubs, these projects will be their first introduction into crypto.

Games are another way for people without cryptocurrency experience to dip their toes. Animoca Brands is working on games based on the German football league, the Formula 1 racing league and the Major League Baseball. All these games are about collecting virtual items and improving your collection. For most players this will be their first introduction into crypto, and that shows that there’s still a lot space for growth.

Originally published at NEDEROB.