Chiliz: The crypto that will take sports to a new level

The sports industry has a favorite cryptocurrency that has increased its value prior to the start of the Copa América and Euro 2024: Chiliz (CHZ); However, soccer is not the only sport that has launched its fantokens through this blockchain , as teams from the NBA, the UFC, ice hockey teams and a wide variety of other disciplines have also joined .

Chiliz has positioned itself among the sports sector as the infrastructure to develop products and experiences on Web3 focused on sports, which is why it has not only attracted fans, but also teams such as Barcelona, ​​the National Team of Argentina and Portugal. and also to those who develop products and experiences for the Web3 ecosystem.

In the crypto world, Chiliz has stood out for being the pioneer cryptocurrency for sports, as well as for creating the Socios.com platform from which people can buy limited tokens of their favorite teams and invest their money in them to collect, exchange or sell them, according to your short, medium and long-term objectives.

“One of the particularities of Chiliz is that it improves people’s experience by enabling the connection between fans and making it easier for them to communicate or interact with their favorite teams, as well as the offer of exclusive experiences and items, which is why at Bitso we have sought “ways to boost the ecosystem that allows people to migrate their tokens to the Chiliz Chain 2.0 ,” said Daniel Gonzalez, Crypto Analyst at Bitso, the leading crypto-driven financial services company in Latin America.

The creation of the Chiliz Chain has improved the infrastructure to a layer 1 blockchain that is compatible with the Ethereum Virtual Machine (EVM), which was built with the purpose of creating a token ecosystem for sports fans with several advantages:

  • Improved scalability: The design of this network supports a greater number of transactions through faster and more efficient processes. In addition, it helps people adapt their tokens to the future needs of the digital and entertainment sector with all the advantages of blockchain , with greater security and more features.
     
  • Greater flexibility in development: The update of this network has promoted the connection with the uses of Web3, which makes it an optimal ecosystem to connect with DeFi applications (decentralized finance), creation of NFTs (non-fungible tokens) and a large variety of dApps (decentralized applications) maintaining compatibility with EVM, which makes it more innovative.
     
  • Living ecosystem: Although Chiliz was launched in 2018 by Alex Dreyfus alongside his own platform, in this time it has had significant changes such as the launch of its own blockchain that promotes a comprehensive ecosystem, with the aim of offering a broader range of functions and services adapted to the Chiliz community.

Chiliz also allows fan communities to participate in surveys or vote on decisions of their sports teams thanks to its partnership with brands and teams that offer exclusive benefits. In preparation for the soccer tournament season, CHZ has increased its value by around 22% before the Euro Cup, with various variations between the tokens it offers: the Portuguese National Team token had a growth of around 40% % in its price and that of the Argentine National Team increased by 25%.

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