Chiliz (CHZ) Pumps 19% Following Release of Fan Token Offering (FTO) Dates

Chiliz (CHZ), the native token of the Socios.com blockchain project, has seen a near 20 percent increase within the last 24 hours following the announcement fan token offering (FTO) dates on the platform.

Socios.com CEO Alexandre Dreyfus announced Friday as part of a Keynote AMA session that the Socios app would launch in November with the fan token offering for Juventus, one of the first soccer clubs tokenized on the platform to take place in the same month.

⚪⚫@juventusfc : November 2019
??@PSG_Inside : January 2020
?⚪@Atleti : February 2020
?❤️@Galatasaraysk. : February 2020
⚒️⚒️@WestHam : February 2020
??@OfficialASRoma : February 2020
??@OGesports : March 2020#sociosiscoming pic.twitter.com/AV37LySEHY

— Socios.com (@socios) October 25, 2019

For the basics, Socios focuses on tokenizing fan engagement, allowing football fans around the world to engage more actively in decision making at their favorite clubs through the use of tokens.

CHZ understandably serves as the cryptocurrency for fans to buy the fan tokens for their favorite clubs, which they can in turn use on the soon-to-be-released Socios app to have their say.

The fan token offering (FTO), as explained by Socios, presents the first opportunity for fans to swap CHZ for fan tokens. With millions of soccer fans expected to participate in the offering, it is understandable that the token is rising on the day.

Chiliz (CHZ) Price Performance – Bullish

As shown in the above chart from Coinmarketcap, CHZ, which was listed recently on Binance exchange, has moved from $0.0079 to $0.0098 within the last 24-hour.

Interestingly too, the adoption of Socios is expected to potentially introduce millions of people around the world who visit soccer stadiums to the concept of cryptocurrencies.

Football Soccer Corner Image via Pixabay