$PSG and $JUV fan tokens hit $300m

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Updated September 21, 2022 | Published December 22, 2020

2 mins read

Chiliz has posted hefty results for its special crypto assets known as fan tokens, which are focused on creating ways for football fans to engage with their favorite clubs.

Driven by some of the biggest brands in the industry, the trading volume for the Paris Saint-Germain ($PSG) and Juventus ($JUV) tokens hit $300m in just 24 hours, Chiliz has reported.

Tokens were traded on three separate crypto exchanges generating a staggering volume in the first hours of release. According to Chiliz, the $JUV and $PSG tokens are now second and fourth respectively in terms of top-performing tokens on Chiliz's list globally.

Powered by Chiliz, these tokens are available through the fan influence and rewards app Socios.com. Chiliz has developed fan token solutions for no fewer than 18 other football clubs, including FC Barcelona, Atlético de Madrid, AS Roma, Istanbul Başakşehir, Trabzonspor, and more.

Meanwhile, the success of Socios.com has been unstoppable, as the world's preeminent non-financial and consumer-facing platform for consumer products.

Chiliz and Sociso.com CEO and founder, Alexandre Dreyfus said: “We have just taken a major step forward in our vision to tokenize the sports and entertainment industry over the next five to seven years.”

The tokenization of the industry is coming, believes Dreyfus, and with that there is an alternative form of entertainment for blockchain and sports enthusiasts. Yet, there are other actionable solutions as well, including crypto sports betting sites such as 1xBit, FortuneJack and Sportsbet.io to name a few.

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Alex

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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$PSG and $JUV fan tokens hit $300m

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