AC Milan, a top Italian Serie A club, has partnered with Chiliz, a blockchain fintech company that creates fan tokens. The $ACM tokens will go on sale via the rewards platform Socios.com.
With 18 local trophies and a further 18 FIFA and UEFA trophies to its name, AC Milan is one of the all-time most successful clubs. There are an estimated 450 million club supporters worldwide and a significant fanbase from the most populous continent, Asia.
The holders of $ACM fan tokens will be able to participate in the club’s decision-making process while also enjoying privileges such as VIP rewards and recognition.
Around 20 sports organizations have partnered with Chiliz and Socios to release their fan tokens. Fan tokens for top clubs like Juventus and other European heavyweights are currently trading on top exchanges like Binance.
About $30 million in revenue has been made from fan tokens over the last year. Clubs and sporting organizations are shifting their focus to fan tokens as a means of generating extra revenue.
AC Milan on Socios
Socios.com has recorded more than 450,000 downloads and more than 700,000 votes on the blockchain within 12 months. Socios is driven by the multiple use-case token, Chiliz ($CHZ) and is a fan-centric blockchain product.
Socios’ main focus is fan engagement. It has achieved this through a notable push of professional sports towards blockchain. Juventus FC fans selected the celebration song and the team’s first official vehicle in the 2020/2021 season.
Meanwhile, Roma FC supporters asked the head coach questions during a live briefing, and PSG fans participated in voting for the club’s annual awards.
The deal with Chiliz is expected to generate more revenue for the club and bring it in line with the rapidly evolving digital future. As per the other launches, fans can also be involved in club decisions.