Sports and entertainment are one of those industries that were hit hard by the pandemic, but fan-focused collectibles offered as crypto assets called NFTs have supplied them the much needed recovery in terms of revenue and resurgence of interest. This booming trend has exploded across mainstream media, and to meet the growing demand from customers across the globe, OKEx has listed Chiliz’s CHZ token for spot trading on the popular cryptocurrency trading platform.

OKEx is keen on staying many steps ahead of the current ongoing trend. This is evident by the platform’s commitment to be amongst the first to introduce innovative DeFi projects and other niches within the blockchain space. As a result, OKEx has opened deposits for Chiliz’s CHZ token starting March 3, with spot trading and withdrawals going live shortly after that. 

“Chiliz has uncovered another key use case for blockchain technology showing how the sports and entertainment industries can adapt to an increasingly digital world and create new revenue streams beyond traditional sources,” commented OKEx CEO Jay Hao.

Hao says the company couldn’t be more happy to support the initiative, continuing that fans adopting cryptocurrencies could help propel the asset class into the “mainstream” – and it has as of late.

With restrictions still taking some of the thrills out of spectator sports and other forms of live entertainment, these industries have struggled to maintain revenue to the detriment of fan engagement. Chiliz’s platform Socios.com, launched in 2018, helps clubs and franchises serve fans, bolster engagement, and generate new lucrative revenue streams.

More than 20 major sporting and eSport organizations have developed Fan Tokens through Socios.com in an attempt to digitally monetize each brand’s loyal global fanbase, ranging from FC Barcelona to Paris Saint-German, AC Milan to Team Heretics, and many more.

With more than half a million downloads from supportive fans around the world, Fan Tokens helped generate $30 million in revenue for Socios.com and its partners in 2020. And with fan-focused tokens becoming the hottest trend in crypto, 2021 is set to be even more profitable for partners. 

OKEx Is Giving Fans Over $150,000 In Fan Tokens At CHZ Listing Debut 

To celebrate the listing of CHZ, OKEx will issue $150,000 USD worth of Fan Tokens in a CHZ community giveaway. The giveaway phase started on March 3 when CHZ deposits went live and remains active until March 10 at 7:00 AM UTC.

Users are already eligible to win the lucky draw for one of two massive prize pools consisting of $75,000 each, as well as an additional $10,000 in CHZ rewards available through referrals, by simply depositing or trading CHZ.

For a full list of official rules, visit the official giveaway landing page on OKEx.

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

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