Liquidity Provider Robinhood Invests in Fan Token Ecosystem

The developers intend to use the funds for the development of the project.

The liquidity provider of the online broker Robinhood, a trading company Jump Trading, has invested in a blockchain startup Chiliz, which focuses on issuing sports tokens. Writes about it Reuters.

  • The project representatives plan to use the investments to develop the sports token market. Exactly how much the Jump Trading team invested in Chiliz is unknown. 

“Jump Trading’s support for Chiliz and the fan token ecosystem can be seen as an acknowledgment of the sports crypto space. Against the background of such an important step, we firmly believe that the market for fan tokens is much larger than the market for non-fungible tokens (NFT) and the direction of digital collectibles in sports ”, – this is how Chiliz CEO Alexander Dreyfus commented on the company’s investment in the project.

  • Malta-registered startup Chiliz, which operates the platform, develops and distributes sports team tokens. With the help of digital assets created within the framework of the project, athletes, among other things, can attract funding. Some Chiliz tokens have been listed on major trading platforms such as Binance. Among the partners of the startup are the football clubs Barcelona, ​​Milan and Manchester City.
  • Against the background of the publication of the news, the rate of the Chiliz project token has grown.

Chiliz project token rate chart. Data: TradingView

We will remind, earlier in the network there was information that the Jump Trading team supported the decentralized trading platform of the FTX exchange.

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