Chiliz recently expanded its ecosystem with the addition of 25 new partners. In a nutshell, Chiliz wants to build a space where sport and decentralization can coexist to provide sports fans with a new type of experience.
Chiliz believes blockchain can transform sports into valuable digital assets and open up new channels of communication between sports organizations and their fans. Let’s discover more about this important announcement.
So, Chiliz’s SportFi ecosystem offers new ways for sports stakeholders to make money off of their intellectual property. This includes both starting new businesses and improving existing ones, such as ticketing and collectibles.
What Does the Chiliz Ecosystem Look Like?
Alexandre Dreyfus, CEO of Socios.com and Chiliz, remarked that the new Chiliz partners show the fast-paced growth of the SportFi ecosystem. There’s been an increase in the number of sports teams engaging in blockchain technology. Most of these teams leverage Chiliz. Here’s a look at the Chiliz ecosystem:
The image shows the number of fan tokens, infrastructure, community apps, and marketplaces. From it, one can see Chiliz’s ambition of becoming the leading sports blockchain. There are over 80 fan tokens on Chiliz from top teams like:
- FC Barcelona.
- Paris Saint-Germain.
- Manchester City.
- Juventus, among many others.
Chiliz Labs streamlines SportFi development through @MoralisWeb3 and @tatum_io integration and announces first global hackathon
#SportFi
$CHZhttps://t.co/IWiRbotE1Q
— Chiliz ($CHZ) – Powering Socios.com
Interestingly, fan tokens perform better than mainstream NFTs. Some reports state that fan tokens trade 400% more than regular NFTs. What’s more, these fan tokens are available on prominent marketplaces like
- Binance
- ChillizX
- Bitget, etc.
See you in Istanbul for the @binance blockchain week to discuss about the @chiliz blockchain and our long-term vision about mainstream adoption. pic.twitter.com/FyfGBBYjMs
— Alexandre Dreyfus
(@alex_dreyfus) November 7, 2023
The Chiliz ecosystem is unique in that it offers a wide range of products and services in addition to fan tokens. This includes immersive football and football management games, metaverse-based sports experiences that take fans into virtual worlds, and online communities that are engagement- and reward-driven. In addition, Chiliz plans to introduce social gaming tools, which provide players with more opportunities to interact, compete, and socialize.
The Chiliz elaborate ecosystem not only provides sports franchises with an extensive number of new revenue streams, but it also represents an evolution in the way fans interact with sports. This enables them to connect more deeply than ever with the teams they support.
5 years ago, @chiliz created @socios for sports teams and Fan Tokens. The next move will be about creators, influencers. Powered by Chiliz Chain.
Soon on your mobile.
— Alexandre Dreyfus
How Chilliz is Expanding SportFi
We defined SportFi as merging decentralization with sports. The term involves three major aspects.
- It merges sports and decentralized finance: This way, fans can transact with their favorite teams.
- The commercialization of sports: This involves the process of turning sports into lucrative assets. SportFi enables supporters to engage in fan communities and interact with their favorite teams without jeopardizing the clubs’ financial health or governance.
- It involves using blockchain to strengthen the relationship between sports teams and their fans.
.@chiliz = #SportFi x #SocialFi pic.twitter.com/qmo93ud2Ry
— Alexandre Dreyfus
The Chilliz Chain serves as the foundation of all SportFi products. The chain was created especially for the sports and entertainment industries. It allows the development of fan tokens that serve as a reward for sports fans. It also supports the creation of NFTs for ticketing and memorabilia.
The Socios.com app, within the Chiliz chain, has more than 2 million users, making it the largest non-financial/trading-centric web3 app in terms of user base. Sports fans across 160 different countries have purchased 138 million Fan Tokens, showing how important Chiliz is to SportFi.
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