Chiliz CHZ jumps 25% on Socios, FC Barcelona partnership

Chiliz ($CHZ) cryptocurrency jumped as much as 25% on Monday evening in Asia after announcing a US$100 million investment in FC Barcelona’s Barça Studios for a 24.5% stake in the soccer club’s digital content and distribution hub.

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Fast facts

• Under the partnership, Socios.com and Chiliz will become the technology partner to boost the club’s blockchain, non-fungible tokens (NFT), digital assets and Web3 strategies, Chiliz said in a blog post on Monday.
• Chiliz is the cryptocurrency of the sports and fan engagement platform Socios.com.
• The new investment builds on an existing partnership that began in February 2020 with the launch of the FC Barcelona fan token (BAR) on Socios.com. 

• BAR was trading up 18% since the announcement at US$6.23 and $CHZ was trading at US$0.1569, at press time, according to CoinMarketCap. 

• Socios.com has partnered with six La Liga teams since 2019 to deliver blockchain and cryptocurrency-powered fan engagement to the sports industry. 

• Socios.com is also developing Web3 initiatives and crypto-fueled fan engagements for other major sporting leagues including the National Basketball Association (NBA) and the National Football League (NFL). 

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