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Chiliz launches new Layer-1 blockchain, aiming to move the sports industry from Web2 to Web3

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 favourite 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 its network of more than 150 teams to create next-generation experiences, products and services powered by $CHZ, Chiliz’s native token.

The 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 on which 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 coin a new block on the blockchain), the PoSA blockchain also consumes much less energy, supporting Chiliz’s commitment to building its technology in a sustainable way.

All fees on the Chiliz chain are paid in $CHZ, Chiliz’s native token and the network enabler 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 their $CHZ on the network.

The Chiliz chain aims to become the Web3 home for major sports companies, 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 fostering through Chiliz Labs, the $50 million incubator for early-stage 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 realised 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 programmes.

Chiliz will also inspire developers to create a global community dedicated to building the future sports Web3 by hosting Chiliz Chain hackathon tournaments at the world’s top 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 been working 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 the next generation of 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 favourite teams and win prizes.

The Socios.com and Fan Token ecosystem includes some of the biggest names in the world of sports, including FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, S.S.C. Napoli, Inter Milan, AC Milan, Arsenal, Atletico Madrid, A.S. 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 fungible 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 Chiliz Blockchain. Chiliz Blockchain will lead to greater integration of blockchain technology in the sports and entertainment industries, 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.