Chiliz Enters US College Sports With First Fan Tokens, Launches Five

Blockchain-based sports-finance project Chiliz has launched the first fan tokens in US college sports.

In a blog post published July 25, Chiliz said it partnered with sports marketing company Playfly Sports to introduce the first fan tokens tied to the US college sports market.

The tokens are being launched for five schools: Louisiana State University, the University of Maryland, Michigan State University, Pennsylvania State University and Texas A&M. Chiliz plans to roll out about 30 college sports fan tokens over the next 12 months.

The expansion comes amid changes in the US regulatory environment. In March, the US Securities and Exchange Commission and the Commodity Futures Trading Commission classified fan tokens as digital collectibles and digital tools in joint guidelines.

Chief Executive Officer Alexandre Dreyfus called the launch a new phase for the fan-token asset class as the first fan tokens in US college sports. Playfly Sports Chief Executive Officer Craig Sloan said the move would broaden engagement with college sports fans while creating a new revenue source to support student-athletes.