Chiliz launches new Layer-1 blockchain
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Chiliz, the leading blockchain provider for the sports industry, has officially launched the public Chiliz Chain mainnet, marking the beginning of the next phase in its mission to improve the relationship between fans, communities and their favorite teams and brands through blockchain technology.
Chiliz Chain: the new Layer-1 developed by Chiliz
Sports teams and brands can leverage Chiliz’s expertise in creating highly engaged digital communities and the network of more than 150 teams to create next-generation experiences, products and services powered by $CHZ, Chiliz’s original token.
Chiliz Chain, an interoperable, EVM compatible Layer-1 ecosystem, will introduce a system of 11 active Proof of Stake Authority (PoSA) validators, including some of the most respected names in the blockchain world and, in the future, major sports properties, responsible for validating transactions and creating a secure environment where approved developers can build the projects that will form the backbone of Web3 in sports. The first validators announced are Jump Crypto, Paribu and Just Mining (Meria), with more to be announced.
In addition to offering lower fees and supporting a shorter block time (the time it takes to create a new block on the blockchain), the PoSA blockchain also uses much less energy, supporting Chiliz’s commitment to building its technology in a sustainable manner.
All fees on the Chiliz chain are paid in $CHZ, Chiliz’s original token and the network activation of the new ecosystem. Staking, a key mechanism that allows users to delegate their tokens to secure the network, is an integral part of the PoSA model and $CHZ holders can now play a key role in the development of the ecosystem and be rewarded for staking $CHZ on the network.
The Chiliz chain aims to become the Web3 home for major sports businesses, while keeping the door open for Chiliz’s existing network of Socios.com partners and other major sports brands to explore innovative ways to bring fans and communities together through fan tokens and Web3 -technology.
Continuous innovation will be the driving force behind the growth of the Chiliz Chain ecosystem, which Chiliz is also promoting through Chiliz Labs, the $50 million incubator for early blockchain-based sports projects that aim to build on the Chiliz chain.
In the coming months, a number of sports web3 projects will be announced that will be realized thanks to Chiliz Labs. There will also be metaverse-based sports, football and manager football projects, as well as interactive rewards and community platforms, social gaming and AI-based content platforms, and NFT and 3D digital collectibles-based ticketing programs.
Chiliz will also inspire developers to create a global community dedicated to building the future of sports Web3 by hosting Chiliz Chain hackathon tournaments in the world’s best sports stadiums and arenas. Details of the Chiliz Chain hackathons will be announced soon.
Alexandre Dreyfus, CEO of Chiliz, said:
“We are proud to finally announce the Chiliz Chain, the sports blockchain, to the global sports community. We have worked for a long time to get to this moment and it is an important step forward for us.
Through our long-term commitment to innovation, our network and new partnerships, and by facilitating blockchain-centric sports projects, the Chiliz chain will be able to grow into the backbone of Web3 for sports, providing the infrastructure needed for next-generation products. experiences and services for teams, brands and fans.”
Chiliz is the creator of Fan Tokens and Socios.com, the world’s leading fan engagement application. Fan tokens are a utility token that gives fans access to active communities on the Socios.com app, where they can connect with their favorite teams and win prizes.
Socios.com and the Fan Token ecosystem include some of the biggest names in the world of sports, including FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, SSC Napoli, Inter Milan, AC Milan, Arsenal, Atletico Madrid, AS Roma , UFC and the major F1 teams. The platform has more than 2 million users and continues to grow.
About Chiliz
Founded in 2018, Chiliz is the global blockchain technology company for the web3 sports and entertainment industry and the creator of Fan Tokens and the fan engagement and rewards app Socios.com. Fan Tokens are tradable and scalable utility tokens that allow sports teams to connect and reward their global fan bases on Socios.com.
In late 2022, Chiliz announced the launch of Gameused.com, a new end-to-end memorabilia authentication service for sports and entertainment, offering storage, NFC and NFT authentication, redemption and resale. Chiliz will soon open its ecosystem to a much wider audience with the launch of the Chiliz Blockchain. Chiliz Blockchain will lead to greater integration of blockchain technology in the sports and entertainment industry, with brands invited to create fan tokens, NFTs and other digital assets, with all fees paid in Chiliz $CHZ. The company has over 300 employees and regional offices in Miami, Madrid, Malta, London, Istanbul, Milan, São Paulo and Switzerland.
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