Binance partners with ChilliZ to tokenize the sports industry
The largest cryptos exchange in the world, Binance Exchange, reported on June 5 through a press release that carried out an undisclosed investment in an Esports voting platform based on the chiliZ blockchain.
According to the note, the Malta-based platform in which Binance is investing is part of the Mediarex Group, a large-scale sports and entertainment company.
According to reports, Binance and ChiliZ will unite to provide the sports industry with a "symbolic ecosystem driven by fans for traditional sports teams." What is translated as the "tokenization" of the sports industry.
According to the press release, chiliZ has already raised around US $ 27 million through a "private placement" underway, which is evidently a closed sale of tokens. The company affirms that the investment of the exchange "will allow the exchange of technical knowledge, innovation and creativity".
Changpeng Zhao, the CEO of Binance who is best known in the ecosystem as CZ, commented that chiliZ is a "creative way to adopt blockchain technology", which aims to promote general integration.
Subsequently, CZ answered a tweet from Alexandre Dreyfus (CEO of ChiliZ), announcing the investment and saying in crypto language: "Thank you (sic) for helping Binance so much! This is the least we could do. "
In March of this year, Binance announced through its own means that it would move to Malta, and Zhao said that the country "is very progressive in terms of crypto and financial technology".
Binance today is the number 1 cryptocurrency exchange in the world in terms of a volume / 24 hour scale, trading around 1.6 billion dollars per day at the time of writing.
According to CoinTelegraph, last week, Binance revealed its plans to create a fund based on 1 trillion dollar cryptocurrencies by implementing BNB tokens as an alternative investment in new blockchain projects.
The idea that cryptographic tokens reach everywhere is key to the establishment of digital money around the world. Eventually, these associations will be more and more frequent due to the facilities that cryptos have against Fiat money, and when this happens all economic sectors will begin to offer solutions based on cryptocurrencies and based on blokchain for the ease of people and financial innovation At that time, the crypto ecosystem will have settled in the world permanently.
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