Naver Pay, Chiliz to develop Web3.0-based sports fan services

[Photo provided by Naver Pay]

South Korea’s Naver Pay announced on Wednesday that it would partner with Chiliz, a blockchain provider for sports and entertainment, to collaborate on business ventures that integrate fintech with sports and entertainment services based on Web3.0.

The collaboration aims to leverage Chiliz’s blockchain network, known as ‘Chiliz Chain,’ to explore various cooperation opportunities connecting sports teams, athletes, and fan communities, as well as enhancing fan engagement by issuing “fan tokens.”

Chiliz previously issued fan tokens for over 70 global sports teams, including Tottenham Hotspur, Paris Saint-Germain, and FC Barcelona. the company partnered with the Korea Professional Football League In February 2024 to support various fan activities in the K League via blockchain-based initiatives.

“With this collaboration, we are committed to actively cooperating with Chiliz to provide innovative services for Korean sports fans,” Naver Pay CEO Park Sang-jin said.