Chiliz Enters US College Sports with First Fan Tokens
Chiliz has made its foray into US college sports by launching the first fan tokens tied to this market. The company partnered with Playfly Sports to introduce these tokens, which are now available for five schools: Louisiana State University, the University of Maryland, Michigan State University, Pennsylvania State University, and Texas A&M.
The expansion comes as the US regulatory environment has changed, with the SEC and CFTC classifying fan tokens as digital collectibles and digital tools. Chiliz plans to roll out about 30 college sports fan tokens over the next 12 months.
According to Alexandre Dreyfus, CEO of Chiliz, this launch marks a new phase for the fan-token asset class in US college sports. Craig Sloan, CEO of Playfly Sports, believes that these tokens will broaden engagement with college sports fans and create a new revenue source to support student-athletes.