In a press release made today, June 5th, 2018, Binance, one of the world’s most populated and recognized cryptocurrency exchanges, has supposedly paired up with chiliZ in order to create a tokenized platform for sports fans – however details as to how the project will come together is yet to be disclosed.

The announcement suggests that the investments made on Binance’s part will be to a Malta-based firm belonging to the Mediarex Group, which emphasizes greatly on global sports. In the time being, chiliZ, a supporter of both eSports and other sports-related projects, has thus far raised over $27 million in what seems to be a private token sale that has come to an end.

Both Binance and chiliZ seem to have crossed paths solely for the purpose of creating a fan-based token system mainly founded on the “Socios” concept.

In addition, the duo believes that the future of blockchain and sports industries are likely to intertwine – making it worthwhile for the millions of sports fanatics out there.

The moment Binance showed interest, chiliZ welcomed their investment, and according to the CEO of chiliZ, Alexandre Dreyfus, it can potentially help them move up the ladder at a much faster pace. In particular, he stated that,

“Binance’s significant investment in chiliZ will boost our current private placement offering and help us to move faster. Their support will help us deliver our vision globally, increase our visibility in the blockchain ecosystem and empower our technical vision.”

CEO and Founder of Binance, Changpeng Zhao, also expressed delight in being able to help chiliZ achieve their set goals. Zhao also spoke highly of chiliZ’s use of blockchain technology, calling it “creative and aimed at building tools and services for mainstream adoption in industries that have a massive global growth rate.”

To confirm the coming together of the two ambitious teams, Dreyfus, tweeted out,

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