Top-tier football club from Italy AC Milan has reportedly joined the footstep of numerous names in the sports industry to release blockchain-based fan tokens.
Specifically, the European football heavyweight is reportedly the next sporting entity to hop on the blockchain train, following its upcoming rollout of the $ACM fan token on the Chiliz (CHZ) blockchain, in an attempt to hit the 450 million milestone for its fanbase.
The release – with its expected official rollout to be in the last week of January – will reportedly allow ACM token holders to collect a wide variety of exclusive rewards, using their tokens, together with participating in interactive activities with the club and players.
With AC Milan joining the trend, the overall number of sporting entities on the Chiliz blockchain reportedly reached 20. The joined clubs reportedly include big names, nominally FC Barcelona, Paris Saint-Germain, AS Roma, and Atletico Madrid, together with numerous esports teams, and leading MMA organization, the UFC.
Previously, crypto tokens have reportedly been utilized as a means for football supporters to interact with their favorite teams in various ways.
Chiliz tokens are reportedly available via the Socios.com app, which has accumulated 450,000 downloads, generating token sales surpassing the 14 million milestone.
The listing of numerous Chiliz tokens have since been finalized across the Binance crypto exchange – which initially rolled out a staking project supporting various tokens, prior to making direct trading available, against Bitcoin (BTC) and Tether (USDT).
Casper Stylsvig, chief revenue officer of AC Milan, reportedly revealed that the initiative to turn to blockchain was fueled partly by the goal of reaching for the 450 million mark, in terms of international fans – a project becoming increasingly important during these times of global health pandemic.