Malta-based sports blockchain venture Chiliz is launching a cryptocurrency exchange for sports and entertainment tokens.

In a press release shared with Cointelegraph on Jan. 23, Chiliz detailed that the new exchange — Chiliz.cyberspace — will roll out in February later on the starting time of Fan Token Offerings​ ​for all of the ​Socios.com​ partner teams​. Socios.com is a tokenized fan-voting platform for sports powered by Chiliz tokens (CHZ).

Chiliz.internet will be fully integrated with Socios.com, enabling users to transfer their fan tokens from a Socios wallet to the exchange, and vice versa. Chiliz and Socios.com CEO Alexandre Dreyfus claimed that Chiliz.net will be the first crypto exchange that does not focus on traditional crypto products.

Users will be able to trade fan tokens for professional person soccer teams Juventus (JUV)​, ​Paris Saint-Germain (PSG)​, Atlético de Madrid (ATM)​, ​A.S. Roma (ASR)​, ​Galatasaray (GAL)​ and ​W Ham United (WHU) on the new exchange. In March, the company plans to add support for OG Esports' fan token, OG.

Reaching an audition of 3.v billion sports fans globally

Soccer is by far the almost pop sport on Globe. Co-ordinate to FIFA's audit of audience data following the 2022 World Cup in Russian federation, over 3.5 billion people tuned in to picket the global showpiece. This number suggests that one-half of the globe's population defenseless some of the action during the competition.

In May 2022, Chiliz entered a strategic partnership with Binance Concatenation, the mainnet of major cryptocurrency exchange Binance. At the time, Dreyfus noted that sports fans represent an addressable audience of billions globally, opening up the possibility of bringing blockchain to a wider audience via collaboration with the industry's global brands and household names.

Binance Chain integration purportedly gives wider reach to Chiliz'south consumer-oriented products and services like instant payments and prepaid gift cards.

Earlier in Jan, Dreyfus said that real mainstream utility tokens are far flung from the likes of Bitcoin (BTC) and payments. "This is the usage of blockchain for something that is non payments, and that was conceived exclusively considering of blockchain. We are not replacing something that was existing before, we have created a new usage and innovation (fan token, influence, etc ...) and we use blockchain to back up it," he explained.