Chiliz, a blockchain provider for the sports industry, has launched the public mainnet of Chiliz Chain. This marks the start of the next phase in the company’s mission to enhance the relationship between fans, communities and their favourite sports teams and brands through blockchain technology.
Teams and brands from the sporting world are starting to realise the potential of blockchain when it comes to fan engagement. Sports teams have global communities and Chiliz is working on bringing all of these members together in one place. Currently, its sports network consists of 150+ major teams – offering digital communities new experiences, products and services. All powered by the company’s native token $CHZ.
Chiliz Chain, a Layer-1, EVM-compatible, interoperable ecosystem, will introduce a system of 11 active Proof of Stake Authority (PoSA) node validators. These will include some of the most respected names in blockchain and eventually leading sports properties. They will be responsible for validating transactions and creating a highly secure environment from which approved developers can build the projects that will form the backbone of web3 in sport.
The first validators to be revealed are Jump Crypto, Paribu and Meria (previously known as Just Mining) with more announcements forthcoming.
Distinguishing from the competition
The company provides low fees and supports short block time (the time it takes to mine a new block on the chain). Furthermore, the PoSA blockchain model also uses significantly less energy. In turn, this supports Chiliz commitment to developing its technology sustainably.
All fees on the Chiliz Chain will be paid using Chiliz native token $CHZ, the network enabler of this new ecosystem. Staking, a key mechanism in which users delegate their tokens to secure the network, is an integral part of the PoSA model. $CHZ holders can now play a role in the development of the ecosystem and be rewarded for staking their $CHZ
The end zone
Chiliz Chain aims to become the home for leading sports brands in web3, with the door open to the company’s existing sports network of Socios.com partners. This is in addition to other major brands from sport and beyond. Together, they will explore innovative ways to bring fans and communities together through Fan Tokens and web3 technology.
Continued innovation will drive the growth of the Chiliz Chain ecosystem and the company will foster this through Chiliz Labs. This is a $50million Jump Crypto backed accelerator and incubator for early stage sports focused blockchain projects looking to build on the Chiliz Chain.
A host of web3 sports projects to be incubated by Chiliz Labs will be unveiled over the coming months. Projects will include metaverse based sports, football and football manager games, rewards and engagement driven community platforms. This is all in addition to social gaming platforms, AI-based content platforms, 3D quality digital sports collectibles and NFT ticketing programmes.
Furthermore, the company will also inspire developers with the aim of creating a global community dedicated to building the future of web3 sports. Doing so by hosting Chiliz Chain hackathon tournaments in major stadiums and sports arenas all over the world. Details on Chiliz Chain hackathons will be announced soon.
Alexandre Dreyfus, CEO of Chiliz, said: “We’re proud to officially introduce the global sports community to Chiliz Chain.
“We’ve been building towards this moment for a long time and it’s a huge step forward for us.
“Through our long-term commitment to innovation, our network, new partnerships and by fostering sports focused blockchain projects, Chiliz Chain can grow to form the backbone of web3 in sport. Finally, we can provide the infrastructure behind the next generation of products, experiences and services for teams, brands and their fans.”