Chiliz (CHZ) launches very first Formula 1 fan tokens

Chiliz (CHZ) recently released Formula 1 fan tokens from the racing teams of Aston Martin Cognizant and Alfa Romeo Racing. The cryptocurrency company announced this on May 20.

On May 20, two million AM and SAUBER tokens were distributed to fans. They could pre-order them through socios.com, the platform for Chiliz’s fan tokens. Both tokens will be available for general sale through socios.com shortly.

“Formula 1 will be broadcast to a global audience of approximately two billion people, making the reach and potential of these partnerships enormous. In the coming years, a generation of passive fans will shift to active fans. This transition takes place via transactional fan engagement on our platform. ”

Said Alexandre Dreyfus, CEO of Chiliz. They are the very first fan tokens from the F1 sport, the press release reports. That said, the McLaren Racing team announced in late March that it will be releasing a fan token in partnership with Bitci.com, but it has not yet been released.

Chiliz also announced a fan token for the Ultimate Fighting Championship (UFC) a few weeks ago, the popular mixed martial arts (MMA) combat sports competition. Red Bull Racing, Max Verstappen’s F1 team, recently announced that it will partner with Tezos (XTZ).

Today, CHZ’s price is in the red, just like the rest of the market. The CHZ price lost no less than 50% of its value last week. Today, the Monaco Grand Prix takes place in Formula 1, one of the most famous races in motorsport.

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