Apr 18 / 2018
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chiliZ raises $27 million for new esports/blockchain venture

chiliZ secures $27 million through early private placement for chiliZ esports/blockchain

chiliZ is a blockchain-based platform that allows enthusiasts to crowd-manage sports and esports teams and organisations. The inspiration finds its roots in traditional sports, specifically football’s La Liga, with their democratic ‘socios’ system of club management. Real Madrid – arguably one of the most valuable teams in the sporting world – is collectively controlled by its 90,000+ ‘socios’; moreover, 170,000 ‘socios’ hold decision-making power at FC Barcelona. The concept of ‘crowd-management’ is already proven to work.

Guillaume Patry, former StarCraft World Champion and chiliZ advisor, commented: “When I was a professional gamer, it was really difficult to get support from the fans. Only the top players and the top games could make a living from gaming. Nowadays players have streaming which helps a little bit, but it’s not perfect. But through the power of blockchain and the chiliz project, the less famous teams and players will be able to get financial support from the fans.”

The chiliZ team have confirmed that $27 million has already been secured through early, private token placement. Current esports teams and leagues have shown great excitement and enthusiasm for the project, which is set to change how esports fans interact and engage with their favourite teams. Demand for the project is also gaining considerable momentum in Asia – the polestar of the fintech and esports industries.

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