Cryptocurrencies like Bitcoin (BTC) are not new to the sports industry. Some NBA teams began accepting BTC every bit payment for tickets equally early equally 2022. Since then, the relationship between sports and crypto has been quickly evolving. Today, a firm that claims to exist the globe's starting time ever crypto commutation for sport tokens has rolled out trading for its commencement sports-focused money.

Chiliz.net, a Singapore-based sports blockchain venture and crypto exchange, has listed Juventus Fan Token (JUV), a blockchain token released by Italian professional person soccer society, Juventus, in collaboration with sport-focused token platform Socios.com.

Chiliz CEO says that Chiliz token is the "Binance of sports"

The JUV list marks the introduction of a new tradeable class of digital asset, Chiliz said in an April 15 announcement. They also highlight that the exchange is the world's get-go blockchain exchange platform for sports and entertainment. Chiliz elaborated that the price of the nugget will be adamant by "market demand arising from factors including fan sentiment, results, tournament victories and transfer window action."

JUV price spikes nearly 4%, while Chiliz token is down virtually v%

As announced, JUV Fan Token trading was launched at 3:00 PM CET. According to Chiliz website, Juventus Fan Token subsequently surged almost iv% in five hours afterward listing, while Chiliz's token (CHZ) dropped around iv%, according to data from Coin360.

Chiliz and Socios.com CEO, Alexandre Dreyfus, told Cointelegraph that JUV increased 15% in the first 2 hours of listing, with a volume of $200,000, which was mainly coming from Turkey, Italy and Japan.

Dreyfus declined to comment on CHZ price, adding that CHZ should be viewed equally a token exchange at present, similarly to native tokens of crypto giants like Binance and Huobi, BNB and HT.

JUV/CHZ trading on Chiliz. Source: Chiliz

JUV/CHZ trading on Chiliz. Source: Chiliz

Chiliz.internet and Socios.com expect to list l sport tokens in 2022

As Cointelegraph reported, Chiliz appear the launch of a crypto exchange for sports and amusement tokens in Jan 2022. At the time, Dreyfus claimed that Chiliz.net will exist the first crypto exchange that does not focus on traditional crypto products.

In line with the ambitious plans announced at the launch, Chiliz at present said that it's planning to listing a wide number of tokens by professional soccer teams in 2022.

The firm wrote:

"Fan Tokens for FC Barcelona ($BAR) Paris Saint-Germain ($PSG), Atlético de Madrid ($ATM), A.South. Roma ($ASR), Galatasaray ($GAL) CA Independiente ($IND) and esports giants OG ($OG) will go alive on Chiliz.net in the coming months. Trading of many more than Fan Tokens from the globe of sports & amusement is expected in 2022."

Dreyfus revealed to Cointelegraph that Chiliz.cyberspace and Socios.com plan to list 50 sport tokens in 2022. The CEO added:

"We are not and volition never exist a normal crypto exchange for BTC and other crypto. We focus only, obviously, on Fan Tokens."

In March, André Figer, vice president of i of the largest sporting career direction companies in Brazil, as well revealed plans for tokenizing soccer players.