Jump Trading, a company known for high-speed trading and market-making services, has made an undisclosed equity investment into the blockchain-based fan token issuer, Chiliz.
Announced on Wednesday, the two companies inked a partnership deal to help Chiliz scale its business and expand the fan token ecosystem globally.
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“Securing backing from a global trading firm of this stature is a great achievement, providing a massive platform upon which we can continue our mission to build Fan Tokens into a multi-billion dollar digital asset class for sports and entertainment,” Chiliz CEO, Alexandre Dreyfus said in a statement.
Crypto for the Loyal Sports Fans
Though Bitcoin often receives the limelight of the mainstream, many blockchain projects are growing exponentially with their services in a particular niche. Chiliz, which was established in 2018, has brought blockchain technology to the world of sports.
The Malta-based company is issuing fan tokens of the sports clubs and teams, giving exclusive access to loyal fans. The company already inked deals with 24 sports, including giants like FC Barcelona, Paris Saint-Germain, AC Milan, Juventus and Manchester City.
The company now has further plans to expand into other continents and already announced a $50 million expansion plan into the United States to target the 5 major sports leagues in the country.
“We have taken great strides forward of late, but this is still very much early days for us in terms of fully developing the new asset class we have created. However, with many more leading partners ready to join our ecosystem, major marketing campaigns set to be rolled out, and increased liquidity we can consolidate our position as the leading crypto venture for sports and entertainment and as one of the most mainstream blockchain-powered businesses in the world,” Dreyfus added.
“Jump Trading investing in the sports crypto space is a recognition for us and of the industry, that this market is just at its beginning.”