Blockchain-based sports activities platform Chiliz has sealed an funding of an undisclosed quantity from Chicago-based buying and selling agency Leap Buying and selling LCC.
Leap Buying and selling — a proprietary buying and selling agency based 20 years in the past by Chicago futures pits veterans Invoice DiSomma and Paul Gurinas — has been engaged for some time in the cryptocurrency space, alongside its wider actions in world futures, choices and equities markets. The agency focuses on algorithmic and high-frequency buying and selling methods and has reportedly been market making for Chiliz’s tokens since early 2021.
Chiliz’s 12 months thus far has been a bullish one, with its native token, CHZ, hitting all-time highs in the spring of this 12 months and lots of of its related sports activities membership fan tokens seeing main beneficial properties throughout the identical interval. Chatting with Cointelegraph, Chiliz CEO Alexandre Dreyfus mentioned:
“The help of Leap Buying and selling into the Chiliz and fan tokens ecosystem is a recognition for the sports activities crypto area […] Additionally it is an attention-grabbing transfer, as we firmly imagine that fan tokens are a a lot, a lot, greater market than NFTs and digital sports activities collectibles.”
Dreyfus mentioned that Chiliz is specializing in constructing out the know-how platform and offering utility for sports activities fan token holders via its consumer-facing Socios.com cellular utility.
“Having the help of Leap Buying and selling for the liquidity and community impact of our market is unquestionably an enormous upside. Their experience and sources will assist us and golf equipment to develop this trade globally, as it’s a world sport,” he mentioned.
This 12 months, in addition to onboarding new membership companions comparable to FC Barcelona, AC Milan and Manchester City, Chiliz revealed plans for a $50-million expansion to arrange an workplace in New York and try to forge ties with North American leagues and sports activities franchises.
The corporate has additionally joined forces in a long-term strategic partnership with cryptocurrency exchange Binance. In late 2020, Binance introduced that Chiliz fan tokens for Paris Saint-Germain (PSG) and Juventus (JUV) soccer golf equipment can be featured on its Launchpool platform.