Chiliz has inked a collaboration agreement with e-commerce and digital retailing firm Rakuten Europe. Last Thursday, April 15, the financial technology blockchain company confirmed this new partnership. The newly signed alliance features Rakuten Europe partnering with Chiliz on Fan Tokens.
Moreover, the collaboration enables Rakuten’s customers in the United Kingdom, Germany, and Spain to utilize Rakuten points to redeem the Fan Tokens. We are pleased to learn about Chiliz’s new partnership. We believe that this development is quite strategic and a game-changer for both digital enterprises.
Based on the news posted online by financial technology and banking news outlet Finextra Research, the Fan Tokens involved in the Chiliz-Rakuten Europe accord are collectible and tradable virtual assets. They offer owners different perks, such as augmented reality or AR-enabled features, voting rights, and club and sponsor promotions. Plus, super-fan recognition on Socios.com and VIP rewards are accessible.
In Europe, Rakuten has constantly been expanding its footprint. The e-commerce establishment is offering various services and products across the region. Rakuten Europe’s customers enjoy shopping, digital content, and communications offerings via the online retailer’s official portals: Rakuten.co.uk in the United Kingdom, Rakuten.de in Germany, and Rakuten.es in Spain.
The Rakuten points are the center of the online retailer’s diverse portfolio, linking Rakuten’s services with collaborations across experiences, retail, and international brands. Members can earn points via daily shopping and redeem them in various ways, like e-books, films, gift cards, and many more.
With Rakuten Europe’s collaboration with Chiliz officially sealed, the e-commerce company is now offering Fan Tokens for FC Barcelona ($BAR), which is also Rakuten’s Main Global Partner. Other digital assets in Rakuten Europe’s ecosystem are AC Milan ($ACM), Paris Saint-Germain ($PSG), Galatasaray ($GAL), Juventus ($JUV), AS Roma ($ASR), and Atlético de Madrid ($ATM).
Furthermore, more Fan Tokens from Chiliz’s 24-strong roster of collaborators, which also comprises the likes of Manchester City, will get integrated into Rakuten Europe’s offerings. Besides the European continent, Chiliz and Rakuten Europe’s partnership will also reportedly expand into more markets around the world in the near future.
We believe that Chiliz and Rakuten Europe’s cooperation is mutually beneficial for both firms, and we are pleased with this development. We gathered that Rakuten’s goal is to have more helpful business partners constantly. Plus, the e-commerce establishment wants to add further enhanced perks and depth of service for their customers’ benefit. Chiliz is similarly ambitious, with a major international expansion agenda for this year.
The leading crypto-unicorn ecosystem wants to boost its existing presence in the European continent while targeting more Fan Token launches in South America, the United Kingdom, and Asia. Chiliz has also confirmed a US$50-million expansion into the United States. It aims to launch with the five leading American sports leagues.
With these important growth targets, we believe that Chiliz and Rakuten Europe’s partnership is just right. Theirs is about having the right collaborator and working together at the right time and at the right place, which is online.
We also think that Chiliz and Rakuten Europe’s collaboration is also just correct at this time with the digital collectibles market booming. Additionally, the total Fan Token market capitalization surpassed US$400 million lately, according to Coinmarketcap.com.