Major blockchain sports venture Chiliz is planning a $50 million expansion into the U.s.a., CEO Alexandre Dreyfus appear Tuesday.

Dreyfus told Cointelegraph that the firm is setting up an office in New York and will outset working with local leagues and sports franchises.

New York is the "headquarters for the sports manufacture in the U.Southward," Dreyfus said, stressing that the new role volition be critical for Chiliz's global expansion. In a Reuters interview, Dreyfus said that the company is preparing to launch fan tokens with franchises from the v major U.S. sports leagues.

Chiliz has generated millions of dollars of revenue for some of Europe's biggest sports organizations. "In 2020, we shared more than than $30 1000000 with our partners, only this yr we're targeting a minimum of $sixty one thousand thousand," Dreyfus said.

Headquartered in Malta, Chiliz has years of feel in providing fan tokens to popular European soccer clubs like FC Barcelona, Juventus and Paris Saint-Germain. By issuing blockchain-based fan tokens with Chiliz, sports organizations and clubs are able to unlock new fan date experiences like fan voting and direct communication with players.

Collaborating closely with its fan engagement platform, Socios, Chiliz is known for working with some of the biggest companies in the cryptocurrency industry. In late 2020, Chiliz appear a partnership with Binance, the world's largest cryptocurrency exchange, to list several European clubs' fan tokens on Binance'southward Launchpool platform.

Joseph Edwards, head of research at cryptocurrency brokerage Enigma Securities, believes that Chiliz's archway into the U.South. is perfectly timed due to COVID-19 restrictions. "Fan tokens correct at present are just hit the perfect crawling at the perfect time — fans are asunder physically from their fandom, and this helps bridge that gap," Edwards said in a Reuters written report.