Fan Tokens Have Much Larger Market Than NFTs, Says Chiliz CEO as Blockchain Prepares New Memecoin 'Pepper'
Chiliz blockchain aims to establish itself as "the sports blockchain," according to CEO Alexandre Dreyfus. The fan tokens market is significantly larger than that of non-fungible tokens (NFTs), with fan tokens generating $134 million in 24-hour volume compared to NFTs' $6.8 million. Chiliz plans to launch a memecoin called Pepper on October 10, which will be airdropped to CHZ token holders, excluding U.S. citizens. The CHZ token powers Socios.com, the leading platform for sports fan tokens, and has seen price fluctuations, peaking at over $0.15 before dropping to $0.068. Chiliz collaborates with over 80 sports properties globally, allowing fans to engage in decision-making processes related to their teams. The platform is highly regulated, holding licenses in several European countries, and has significant user bases in Turkey and Brazil.
