EXCLUSIVE: CHZ Token & AC Milan Drop 100 NFTs on Socios App, Tradeable On Ethereum Marketplace

The phenomenon of NFTs was doubted by some as being merely hype. However, the digital art form has still cemented itself as a relevant and powerful media tool for large organisations, financial or not. This time, it is Italian Football Club, AC Milan, that are involved in the phenomena, who announced their first ever NFT campaign with CHZ token on the Socios app.

CHZ token doubled in price after announcing the NFT campaign on the Socios app, with the football club. The project involved 100 limited edition NFTs of the biggest moments of AC Milan’s game with their Serie A Rivals, Roma, to be minted and dropped to $ACM Fan Token holders. This shows how customer engagement, loyalty and branding are greatly enhanced by implementing the new technology into commercial spaces. The project was also significant for generating hype for another launch; Chiliz Chain 2.0.

This new project would enable whitelisted smart contract developers to mint NFTs and Fan Token, using $CHZ as its native token. Alexandre Dreyfus, CEO and Founder of Chiliz and Socios.com said ‘The AC Milan partnership is a great start to a year in which we will work harder than ever on our mission to fully establish Fan Tokens as the ultimate fan engagement tool and as a powerful new revenue generator for the sports industry.’

This venture for AC Milan highlights their renewed interest into this realm of opportunity. At the start of this year, the club announced their partnership with fintech blockchain company Chiliz, to launch the $ACM Fan Token on the fan engagement and rewards platform Socios.com. $ACM Fan Token owners have access to a wide range of benefits including the right to vote in multiple club decisions each season, VIP rewards, exclusive club and sponsor promotions, games, competitions and ‘super-fan’ recognition. One example of increased utility is how a Socios fan will also be the voice to announce the AC Milan squad in the San Siro for the Milan Derby on Nov. 7.

Socios.com is one of the most active non-financial, consumer-facing mainstream blockchain products in the world. In just over a year it has been downloaded by more than 450,000 people, over 14M Fan Tokens have been sold, and over 700,000 votes registered on the blockchain. In total, Fan Tokens have generated over $30M USD for clubs and partners since the start of 2021, and projects like these will no doubt further their profits by the end of Q4.

The Importance Of The Ethereum Marketplace – Bitcoin’s original prominence means they will remain centre stage in the world of crypto for some time, but Ethereum continues to push itself further, shown in how they tapped a new peak of €4,000 in their market cap. The world’s largest smart contract network added approximately 10% over 7 days and is up about 35% for the past month. Ultimately though, by minting the NFTs, Socios.com partners will be able to trade them on any Ethereum based NFT marketplace, furthering their usability, promotability and the potential profits that could be accumulated from the venture.

The world of cryptocurrency and NFTs seem to be getting stronger. From Bitcoin’s 13th anniversary at the end of October to the Polkadot blockchain surging to new all-time highs, the market is brimming with opportunity at the moment. It’s interesting to see how more non financial organisations, like AC Milan, adopt the ventures to propel themselves into the next generation of financial culture as we know it.