Global sports and entertainment company Chiliz is set to launch its fan token initiative in the American college sports market.
On Monday, Chiliz announced the rollout of its first fan token and fan engagement program in the U.S., partnering with five prestigious universities.
The initial partners include Louisiana State University, the University of Maryland, Michigan State University, Pennsylvania State University, and Texas A&M University.
Chiliz aims to expand its partnerships to 30 college sports teams by December. Through these fan tokens, the company will offer blockchain-based fan engagement services, including voting and rewards programs.
A portion of the revenue generated from the issuance of fan tokens will be allocated to the Name, Image, Likeness (NIL) program, which compensates student-athletes for the use of their likeness, name, and publicity rights.
Alexandre Dreyfus, Chief Executive Officer (CEO) of Chiliz, expressed his enthusiasm: It’s excited to bring a new digital fan experience to American college sports enthusiasts and further expand the sports blockchain ecosystem.
It’s worth noting that Chiliz already operates its fan token initiative with over 70 sports teams and organizations worldwide, including soccer powerhouses like FC Barcelona, Paris Saint-Germain (PSG), Manchester City, and AC Milan.