The chief executive of fan-focused crypto project Chiliz (CHZ) is detailing the future of the nascent digital asset subsector and says it has yet to live up to its full potential.
In a new interview on Real Vision Crypto with macro guru Raoul Pal, Chiliz CEO Alexandre Dreyfus explains how fan tokens can be utilized to spark commerce and partnerships between sports fans and brand name firms.
“There is a lot of utility that we build, that the team is building… We haven’t seen yet the full scope of all the utility that can be built with owning a fan token.
Going to the McDonald’s here in the street and because there is someone else that built the link that if I own a fan token and I go to McDonald’s I get 10% [off] because it’s next to the stadium, or it’s next to a Nike shop that is a sponsor of that team, I get a discount, so there is a lot of things that can’t be invented for that.”
According to Dreyfus, fan tokens exist to give sports fans a voice in how the team operates, as well as elevate their status to being community members of the sports organization.
“What does a fan want when he likes a team? Before, beside the fact that he would like the team to win, there [were] two things that matter: one, being recognized that you, a team owner, tells me, a random Joe, that I belong to the community, that I’m part of that community, I’m a fan 3.0, I’m a super fan, doesn’t matter the definition, but I’m part of this, and because I’m part of this, I have a voice…
When we started to pitch fan tokens, the first version were called ‘voice tokens’ because we were giving a voice to the fans.”
CHZ is trading for $0.121 at time of writing, a nearly 2% dip during the last 24 hours.
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