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Cryptocurrency News Articles
Chiliz (CHZ) Enters a New Era in the Blockchain Realm with a New Independent Subsidiary, Chiliz Sports
Sep 28, 2024 at 03:05 am
The popular sports-focused blockchain Chiliz (CHZ) is entering a new era in the blockchain realm with a new independent subsidiary.
Chiliz (CHZ), a prominent sports-oriented blockchain, is forging ahead in the blockchain realm with a new independent subsidiary. The Chiliz Sports is geared towards fostering new sports partnerships, onboarding sports-passionate blockchain developers, and leveraging Chiliz Group’s expertise in the field.
Top European Clubs Joined Web3
The Chiliz blockchain has been operational since 2018, powering the leading soccer fan token platform, Socios.com. The Web3 platform is home to popular European soccer club fan tokens, including Paris Saint Germain Fan Token (PSG), Juventus Fan Token (JUV), and FC Barcelona Fan Token (BAR). As the Champions League returned, these fan tokens registered slight gains since last week.
The next few months will be focused on onboarding developers and companies in the sports space. We are Chiliz Chain, The Sports Blockchain. ⚽️🌐 pic.twitter.com/PyLA7XwXS1
Initially onboarding over 70 sports franchises onto Socios.com, the synergy between sports and blockchain grew in 2023 when Chiliz introduced the Chiliz Chain. Since the blockchain’s inception, 150 sports and crypto companies have been onboarded to drive innovation in both categories.
Chiliz Knows What Moves Crowds?
CHZ remains the largest cryptocurrency in the fan token sector, with a global market cap of $628 million. The new Chiliz Sports venture will be led by Daniel Maglietta, Chiliz’s Football Commercial Director, who has experience setting up partnerships between top European soccer clubs and major crypto brands.
With a circulating supply of 9.08 billion coins, Chiliz is trading at $0.069 after picking up 22.7% gains over the past seven days. This year, Chiliz has already scored deals with South Korea’s top-tier K-League, the internet conglomerate Naver Pay, and the French Professional Football League (LFP).
$CHZ have their own chain and partnerships with Barcelona & other major brands. Clubs issue their own tokens like $BAR $CITY $PSG to give fans a game to play & involve them in decision-makingif you’re bullish crypto then you know that the biggest brands will come from crypto… pic.twitter.com/DEHwSgBvoZ
Thanks to the partnership with LFP, the recent launch of a Web3 fantasy league, the French Coach Ligue 1, introduced a next-level Chiliz gaming experience with digital collectibles. Players can assemble their teams from real on-chain digital assets as the season progresses, competing for weekly prizes in the national and global crypto player ranks.
On the Flipside
Why This Matters
Blockchain technology enables major sports franchises to directly own the revenue streams, fostering a closer fan relationship through Web3 engagement.
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