Sports and entertainment blockchain company Chiliz has announced a new partnership with Spanish football club, Atlético Madrid.

Having finished second in the top tier last time out, the club becomes the first La Liga team to join Socios.com, the blockchain-based fan engagement and rewards platform, joining the likes of Juventus, Paris Saint-Germain, AS Roma and West Ham United in offering Fan Tokens to supporters.

Clemente Villaverde, Board Member of Atlético Madrid commented on the partnership: “For Atlético de Madrid, it is a pleasure to join this technological platform that other great European clubs already use and that will allow us to engage and interact with our fans from all over the world in a very innovative way. We are a Club that is constantly committed to technological innovation and in this sense, we see it as very positive to join the Socios.com community.”

Atlético Madrid Fan Tokens will be tradeable against Socios.com’s native token, $CHZ, a digital currency for blockchain-backed platforms and products and mainstream users. Fans must first purchase $CHZ through a cryptocurrency exchange or directly on the app itself, to subsequently buy Fan Tokens through a process known as a Fan Token OfferingTM or FTO.

Alexandre Dreyfus, CEO & Founder of Socios.com added: “Not only is Atlético de Madrid a giant of the footballing world, but they are very creative and forward-thinking with regard to technology and fan engagement, and that is what ultimately led us to want to partner with them.

“They already have a hugely passionate fanbase in Spain but joining Socios.com will enable the club to further reach, engage and reward a more global audience through innovative blockchain technology. By adding a club of such magnitude, we will grow our own potential user base to well over a billion sports fans, all of whom will be eventual cryptocurrency users.”