cryptonewsz.com
The crypto circle is on a roll, with several ventures joining hands to enhance the industry proceedings. One such announcement came into effect on April 15, 2021, when Chiliz (a Fintech blockchain firm), the creator of Socios.com, and Fan Tokens formed a partnership with the market tycoon Rakuten Europe.
While Rakuten is already making big strides in the European territory, the move is a crucial step to enhance its proceedings in Germany, UK, and Spain. Now the users owning Rakuten points can use them to redeem them for Fan Tokens.
What can the Fan Tokens redeem? Here is a list of items you can redeem:
- AR-enabled features
- Collectibles
- VIP rewards
- Tradeable virtual assets with voting rights
- Sponsor and club promotions
- Superfan recognition on Socios.com
Rakuten is making an impact in different territories via sites like Rakuten.es, Rakuten.co.uk, and Rakuten.de. The entire ecosystem functions through Rakuten Points, which can be earned via routine shopping.
With the digital assets and collectibles booming, Rakuten is also proffering Fan Tokens for:
- Galatasaray
- AC Milan
- Atletico de Madrid
- Paris Saint-German
- FC Barcelona
- Juventus
More rosters are sure to be added to the list, and the move will expand the list even further. As Fan Token’s total market cap breached the 400 million dollars, the ventures are sure to excel. Even CoinMarketCap has dedicated a page for Fan Tokens on Chiliz Blockchain.
Chiliz is also a renowned name in the blockchain industry with over 100 employees. But Chiliz does not intend to stay restricted to the extent as it recently announced to expand all over the US with a whopping investment of 50 million dollars.
Wrapping Up
Both Rakuten and Chiliz are pioneers in their own right. Fan Token is gradually increasing in market cap, becoming a crowd favorite in different territories. With both Chiliz and Rakuten planning to expand their reach globally, the market is bound to benefit from their progression.