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FTX to List Chiliz Tokens for Sports Fans

The crypto exchange will begin by offering the fan tokens for Italy’s Inter Milan and Turkey’s Galatasary Sports Club.

Sep 14, 2021 at 12:57 p.m. UTC
Updated Sep 14, 2021 at 7:32 p.m. UTC

Sam Bankman-Fried’s FTX crypto exchange is making Chiliz fan tokens available on its platform, the companies announced Tuesday.

  • FTX said it will start by making $INTER and $GAL tokens available on its platform to sports fans around the world. $INTER is the fan token of Italy’s Inter Milan soccer team while $GAL is the token for Turkey’s Galatasary Sports Club.
  • Chiliz is a Malta-based platform that provides fan tokens in partnership with sports clubs. The tokens are collectible, tradable digital assets allowing holders to access VIP experiences, rewards, games, content, chat forums and competitions on Chiliz fan engagement platform Socios.com.
  • FTX said it will soon list other Chiliz tokens such as $PSG, $CITY and $BAR.
  • “Bringing Fan Tokens to our platform through this partnership with Chiliz provides our users with a new way of engaging with the teams they support,” said FTX CEO Sam Bankman-Fried in a statement.
  • Chiliz has opened new regional headquarters in Madrid, Istanbul and São Paulo and plans to open a new North American office. It expects many more major sporting organizations to launch fan tokens in the future.
  • In March, Chiliz announced plans to spend $50 million on an expansion in the U.S. to launch fan tokens for U.S. sports leagues.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Tanzeel Akhtar is a CoinDesk news reporter based in Europe.

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