Chiliz acquires 51% of OG Esports to scale fan token economy
Sports blockchain company Chiliz, operator of Socios.com and CHZ token, buys 51% of OG Esports, adding OG Fan Tokens and supporting team growth.
Gaining majority control of OG Esports, Chiliz Group announced plans to expand operations and increase engagement between fans and players. Former OG co-founder Xavier Oswald becomes CEO, while OG’s original founders, and Dota2 players Johan “n0tail” Sundstein and Sébastien “Ceb” Debs, start a new project to strengthen the team’s competitive foundation.
Based on the announcement, Socios.com will serve as the exclusive platform for OG Fan Tokens. The token will support blockchain-based features such as tickets, merchandise, in-stadium perks, and digital content. It is also expected to integrate with real-world club assets and revenues through mechanisms like buybacks.
The OG Fan Token, launched in 2020, currently has a market capitalization of over $70 million, according to CoinMarketCap. On September 11, it reached a record high of $24.81, and it is currently down about 33.8% from that peak.
According to Chiliz CEO and Founder Alex Dreyfus, the acquisition of OG Esports by Chiliz marks a new phase for the fan token economy. “OG has always been about community and innovation, and since 2020, it has demonstrated that fan tokens can create genuine economic value and meaningful engagement”, he mentioned.
Xavier Oswald, the incoming CEO of OG Esports, said having Chiliz as a majority partner will allow the team to scale, grow its global community, and unlock new engagement ways through the OG token.
Socios.com, launched in 2018 by the Chiliz Group, allows sports and entertainment organizations to issue fan tokens. The platform works with major partners such as FC Barcelona, Juventus, Paris Saint-Germain, AC Milan, and others, and uses the CHZ token to power transactions and trading of fan tokens.
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