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The $UFC Fan Token will launch on Socios.com next month. The token will have a limited supply of 20 million.
American mixed martial arts promotion company UFC and leading blockchain fintech provider Chiliz are coming together to jointly launch a $UFC Fan Token. The joint venture will be launching the token on fan influence and rewards mobile app Socios.com. On Socios.com, fans are offered tokens, which give them exclusive access.
UFC and Chiliz to Launch UFC Fan Token
UFC revealed details of their plans to launch UFC Fan Token on the 4th of May. Holders of the Fan Tokens will enjoy certain privileges such as VIP rewards and fan voting rights. In addition, Fan Tokens give access to exclusive promotions, AR-enabled features, games, and competitions, including chat forums.
According to the announcement, the $UFC Fan Token will launch on Socios.com next month. Also, the Fan Token will have a limited supply of 20 million.
Before now, several European soccer teams have partnered with Chiliz. They include Paris Saint-German, FC Barcelona, AC Milan, and Manchester City. Currently, Paris Saint-German Fan Token (PSG) is down 17.56% to $33.70, and FC Barcelona fan token (BAR) is down nearly 7% to $35.41.
On the other hand, Manchester City recently announced its partnership with Socios.com for its Fan Token. Like other fan tokens, the $CITY fan token will offer certain privileges to the large fan base of Manchester City.
The senior vice president of global partnerships sales at City Football Group, Stephan Cieplik, commented on the collaboration with Socios.com. During the announcement, Cieplik said that the company is impressed with Socio.com’s several collaborations with European soccer clubs. He added that Socios.com is the right platform for its fan token. Cieplik continued:
“We recognize the significant interest in blockchain and the opportunity it provides us to engage further our global fanbase and we are confident that the Manchester City Fan Token will prove a popular addition to our digital line-up.”
Chiliz to Expand Globally in 2021
As stated in the UFC announcement, Chiliz had plans to expand beyond Europe. UFC said Chiliz is planning a global expansion for 2021. More directly, UFC noted that Chiliz aims to launch more Fan Token in the UK, the US, Asia, and South America.
Furthermore, the announcement revealed that Chiliz is also planning o open new offices. Already, the blockchain fintech provider has several office locations across the globe. Now, Chiliz will open new European, US, and South American headquarters in Madrid, New York, and Sao Paulo.
In March, Coinspeaker reported that the Chiliz exceeded a $1 billion market cap amid the growing popularity of Fan Tokens. Within 30 minutes of launching AC Milan fan toke, Chiliz generated about $6 million. In the report, Coinspeaker noted that the Fan Token Market Cap also reached $194 million. In 2020, Fan Token raised more than $30 million in revenue.