High-frequency trading entity from Chicago Jump Trading has reportedly finalized an unspecified equity investment towards the blockchain-powered sports platform Chiliz.
Specifically, Jump Trading — a proprietary trading company established 20 years ago by Chicago futures pits veterans Bill DiSomma and Paul Gurinas – has reportedly been establishing its presence across the crypto sphere for a while, together with its broader activities in international futures, options and equities markets.
The company primarily works with algorithmic and high-frequency trading strategies, and has reportedly been handling market making for Chiliz’s tokens since the beginning of this year.
2021 has reportedly been a bullish time for Chilliz up to now, with its native token CHZ achieving a record-breaking milestone in value in spring, as well as numerous other partnering sports club fan tokens experiencing significant growth throughout the similar period.
“The support of Jump Trading into the Chiliz and fan tokens ecosystem is a recognition for the sports crypto space […] It is also an interesting move, as we firmly believe that fan tokens are a much, much, bigger market than NFTs and digital sports collectibles.” Head of Chilliz, Alexandre Dreyfus, reportedly remarked.
Dreyfus reportedly revealed that Chiliz is directing its resources towards designing the technology platform and offering utility for sports fan token holders via its consumer-facing Socios.com mobile application.
“Having the support of Jump Trading for the liquidity and network effect of our marketplace is definitely a big upside. Their expertise and resources will help us and clubs to grow this industry globally, as it is a global game”.
In 2021, apart from finalizing the onboarding of additional club partners, nominally FC Barcelona, AC Milan and Manchester City, Chiliz disclosed plans for a $50-million expansion to build a New York-based office to team up with North American leagues and sports franchises.