AC Milan Partners with Chiliz to Launch Club Token Via Socios
With 18 local trophies and a further 18 FIFA and UEFA trophies to its name, AC Milan is one of the all-time most successful clubs. There are an estimated 450 million club supporters worldwide and a significant fanbase from the most populous continent, Asia. This partnership follows in the footsteps of AC Milan’s neighbors, Internazionale … Continued
AC Milan, a top Italian Serie A club, has partnered with Chiliz, a blockchain fintech company that creates fan tokens. The $ACM tokens will go on sale via the rewards platform Socios.com.
With 18 local trophies and a further 18 FIFA and UEFA trophies to its name, AC Milan is one of the all-time most successful clubs. There are an estimated 450 million club supporters worldwide and a significant fanbase from the most populous continent, Asia.
The holders of $ACM fan tokens will be able to participate in the club’s decision-making process while also enjoying privileges such as VIP rewards and recognition.
Around 20 sports organizations have partnered with Chiliz and Socios to release their fan tokens. Fan tokens for top clubs like Juventus and other European heavyweights are currently trading on top exchanges like Binance.
About $30 million in revenue has been made from fan tokens over the last year. Clubs and sporting organizations are shifting their focus to fan tokens as a means of generating extra revenue.
AC Milan on Socios
Socios.com has recorded more than 450,000 downloads and more than 700,000 votes on the blockchain within 12 months. Socios is driven by the multiple use-case token, Chiliz ($CHZ) and is a fan-centric blockchain product.
Socios’ main focus is fan engagement. It has achieved this through a notable push of professional sports towards blockchain. Juventus FC fans selected the celebration song and the team’s first official vehicle in the 2020/2021 season.
Meanwhile, Roma FC supporters asked the head coach questions during a live briefing, and PSG fans participated in voting for the club’s annual awards.
The deal with Chiliz is expected to generate more revenue for the club and bring it in line with the rapidly evolving digital future. As per the other launches, fans can also be involved in club decisions.
The opinion of BeInCrypto staff in a single voice.
Bitcoin (BTC) Price Prediction – March 2, 2021 Today, Bitcoin price has traded and reached the psychological price level of $50,000. However, after testing the resistance zone twice, the king coin was resisted. BTC price has retraced to $47,400 low. Bullish signals are indicating a possible upward move of the coin.
Resistance Levels: $58,000, $59,000, $60,000 Support Levels: $40,000, $39,000, $38,000
Before the upward move to the recent high at the $50,000 psychological price level, Bitcoin has been in a downward correction.BTC price was earlier confined and was fluctuating between $44,000 and $48,000. Sellers attempted to break the $44,000 support twice before the BTC price rebounded above the support level and resumed upward. As Bitcoin hit the $50,000 high and retraced, there is the tendency of a possible upward move of the coin. If the bulls break the $50,000 high, the market will rise to retest the $52,000 resistance. The bears may likely mount a stiff resistance at this level. Nonetheless, if the bulls can clear the $52,000 resistance zone, then the BTC price will rise to retest the $58,000 overhead resistance. In the meantime, buyers are still struggling to break above the $50.000 high.
Crypto Users Can Buy Hyundai with Bitcoin, Not Just a Lambo Crypto holders in North America are privilege to purchase their next vehicle with BTC. The auto dealer is located in Quebec and Florida, and the company accepts digital asset payments in its daily operations. According to reports, over 500,000 vehicles have been sold by the company for the past 25 years. The company maintains a warehouse in Miami that has a stock of over 1,000 cars. The company sells a wide variety of used cars, from Hyundais to Lamborghinis. Crypto users can use their funds to buy practical cars in addition to luxury vehicles. The company claims to have the largest inventory of vehicles in Canada. In terms of accepting crypto payments, the dealership said: “We’re pleased today to be at the forefront of technology, giving our customers another payment option. We also believe it will be advantageous to keep some of our assets in cryptocurrency.”
Meanwhile, buyers have been able to push the BTC price to $50,000 high. In the same vein, the Fibonacci tool has indicated an upward movement of the coin after a retracement. On March 1 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement implies that the BTC price will rise and reach level 1.272 Fibonacci extension or the high of $52,029.50. The BTC price will reverse after attaining the recent high.
Cryptocurrency adoption is slowly but surely spreading across the World. Projects are branching out their marketing budgets and partnerships to sports teams in a bid to gain further recognition. BeInCrypto looks at crypto projects that have partnered with sports teams.
Cryptocurrencies have found many weird and wild ways to gain users’ attention, from making use of crypto influencers and celebrities to dishing out tokens to die-hard followers. However, in an ever-growing industry, marketing plans need to adapt, and projects need to grow. Crypto has slowly entered the sporting world as we look at several teams that feature cryptocurrency sponsors.
Aston Martin Formula One & Crypto.com
However, racing has featured crypto projects before, with less purpose than the brand new partnership between the newly formed Aston Martin Formula 1 team and Crypto.com.
Previously, DogeCoin managed to raise $55,000 to have a Nascar sponsored with the Shiba at Talladega. However, the sponsorship was more of a meme than anything else. The recent partnership between Aston Martin Cognizant Formula One Team and the popular cryptocurrency app Crypto.com represents something more significant. The partnership focuses on the growth of technology and cryptocurrency innovation.
The partnership becomes the most recent between a sports team and a crypto project. Co-founder and CEP of Crypto.com Kris Marszalek commented on the move in a press release, stating:
“In only four years, we have built the world’s most secure and fastest-growing cryptocurrency platform serving more than 10 million customers worldwide. We’re proud to be partnering with Aston Martin as they return to Grand Prix racing, especially as the first cryptocurrency platform to be sponsoring an F1 team.”
Aston Martin Executive Chairman Lawrence Stroll also commented on the move, expressing how impressed he was with the growth and management of the Crypto.com project. Stroll also expressed the team’s desire to grow with the times and remain innovative, saying:
“This partnership with Crypto.com really puts Aston Martin Cognizant Formula One
Team at the forefront of the boom in cryptocurrency and blockchain technology.”
Cryptocurrency sponsors of football teams are also picking up. The most recent being that of cryptocurrency exchange and wallet provider StormGain. The multi-year partnership sees one of the oldest and traditional football teams in Italian football merge with one of the most innovative crypto platforms on the market. Offering the perfect synergy of sports and crypto combined.
SS Lazio Marketing, Sponsorship and Event Director Marco Canigiani commented:
“We are very proud of this partnership that will reinforce our innovative positioning. Our partnership will help us widen our international landscape and create at the forefront projects for our fans”.
“StormGain is delighted to partner with SS Lazio, a world-famous team with a rich history and values which echo our own perfectly. Through this sponsorship, we’re thrilled to join the worlds of crypto trading and football together and offer many exciting benefits for our clients, who can win exclusive access to the Roman superstars and unique prizes thanks to StormGain. We look forward to the start of a new season, which, no doubts, will be exciting and yet different from any other!”
The biggest impact within the sporting industry and cryptocurrencies has to be Chiliz. Chiliz is touted as being the world’s leading blockchain fintech provider for sports & entertainment. The project has launched a plethora of fan tokens within the football sports industry. The tokenized sports and entertainment exchange now features fan tokens for some of the largest football teams in the world. Teams with digital fan tokens now include Barcelona, AC Milan, Galatasaray, Paris Saint-Germain, AS Roma, Juventus, and Atletico Madrid.
The fan tokens have proven to be a great tool that incorporates fans and generates revenue.
The crypto project may have had big plans early on. Those plans have now come to fruition, but the company has further plans. Chiliz announced earlier this week that it would be investing $50 million into an expansion into the United States. It is inevitable that Chiliz targets one of the biggest sporting countries on the globe. CEO Alexandre Dreyfus commented on the news saying:
“We head to the U.S. with a proven track record in generating millions of dollars of revenue for some of Europe’s biggest sporting organizations”.
The New York office will look to capitalize on the major sporting teams on the continent. The expansion looks to further grow the digital token sector. The company is currently in talks with Formula One teams and even esports teams.
The growth of the cryptocurrency industry coupled with adoption in sports, will slowly intertwine, and it is very likely that it will be commonplace to see cryptocurrency projects within sporting teams in the future. Either through sponsorships, fan tokens, NFTs, or even blockchain providers.
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. He discovered Bitcoin in 2016 when investing in a Ponzi scheme, and it was the best decision he ever made.
In the current Bitcoin price rally, it is a widely known opinion that miner inflows to spot exchanges have led to a drop in the cryptocurrency’s price. However, on observing the drop from $58,000 to $43000 closely, it becomes increasingly clear why inflows from miners may not be entirely bearish. In fact, miners deposited nearly 61,005 Bitcoins, based on data from CryptoQuant,
Now that the cryptocurrency’s price has recovered and the asset is trading above $48,000 again, ideally, miner deposits should have dropped too since this would, in turn, allow the price to hike as well. However, the bounce in price came despite deposits of over 9,500 Bitcoins to spot exchanges in the last 24 hours. While this may be a mere observation, what is clear is that miner deposits are not entirely driving Bitcoin’s price this market cycle.
One of the top factors influencing the current surge in price may be the ETHBTC correlation and institutional demand. Bitcoin’s price is currently below the 100-day moving average. With the ETHBTC correlation back above 70% and increased institutional investment in Ethereum, Bitcoin’s price has recovered by over 5% in less than 24 hours.
Besides institutional investment flow in Ethereum, institutions like MicroStrategy are leading another wave of Bitcoin investments. However, none of these metrics hint at a revival in price, like the one observed in January, before the price hit a new ATH. Ergo, there may be a further decline in price, as has been the usual case in the month of March, historically.
To date, this is the most consistent seasonal pattern in Bitcoin. Why is this the case? Well, it may be tax-related.
Based on Bitcoin’s monthly returns from Unfolded, the cryptocurrency’s price has consistently dropped in March every year. In fact, it has dropped by double digits since 2014, while recovering soon after in a month or two.
Though such drops can be seen in the month of September as well, the March one is considered more significant since the former has seen some instances where the opposite has happened. The example of March 2020 best illustrates this, with the cryptocurrency dropping by over 40% in a matter of hours.
Ergo, based on these observations, retail traders can expect a further pullback in price, before the end of March 2021.
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