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Binance Invests in Esports Platform

Binance Invests in Esports Platform

Esports voting platform chiliZ received an undisclosed investment from Binance.

Currently Binance is the world’s largest cryptocurrency exchange. Their typical trading days are well over $1.5 billion dollars.

ChiliZ and Binance will be working together to provide a “fan-driven token ecosystem for traditional sports teams.”

So far chiliZ has been able to raise over $27 million dollars in an ongoing closed token sale. Binance’s additional capital will serve as a way to further expand chiliZ’s technological development.

According to Binance’s CEO Changpeng Zhao, chiliZ will be a way to promote a more widespread adoption of blockchain technology.

With Binance’s recent move to Malta, this is just an additional step they are taking to be a leader of the pack in the cryptocurrency community. More over, this news come with the additional news that Binance is creating a $1 billion dollar cryptocurrency fund. The fund will be utilizing Binance’s BNB tokens.

There is speculation that a portion of the cryptocurrency fund could be going to chiliZ and has already been allocated. Regardless, chiliZ CEO Alexandre Dreyfus is only becoming friendlier with Binance as their partnership continues to unfold.