Chiliz Unveils SportFi Ecosystem with 25+ Projects, Transforming the Intersection of Sports and Decentralization

Chiliz Unveils SportFi Ecosystem with 25+ Projects, Transforming the Intersection of Sports and Decentralization

Crypto News – Chiliz, a prominent player in the world of sports blockchain, is thrilled to announce the launch of more than 25 projects within its SportFi ecosystem. This ecosystem is the convergence point of the sports world and decentralization, aiming to deliver innovative products and experiences to sports enthusiasts.

Chiliz envisions SportFi as a revolutionary concept, where blockchain technology has the potential to transform sports into valuable, tradable digital assets, establishing a new level of interaction between sports entities and their communities.

Diverse Chiliz Ecosystem

The Chiliz ecosystem offers a broad spectrum of offerings across different categories:

1. Fan Tokens: These include tokens for renowned sports clubs such as Paris Saint-Germain, Juventus, AC Milan, Atletico Madrid, and many more. Over 80 Fan Tokens are already deployed on Chiliz Chain via Socios.com.
2. Infrastructure: Various tools and platforms, including Moralis, Tatum, ANKR, Pyth, and Biconomy, provide the backbone for the ecosystem’s functionality.
3. Fan/Community Apps: A wide range of applications like Socios.com, Blockasset, and LiveLike enhance fan engagement and interaction.
4. Marketplaces (Exchanges/NFT): Marketplaces such as Binance, OKX, and BitGet facilitate the trading of Fan Tokens and NFTs.
5. Custody: Custodial solutions, including BitGet Wallet and Magic Link, offer secure storage for digital assets.
6. DeFi: DeFi solutions like LENX and PepperSwap introduce decentralized finance elements to the ecosystem.
7. Validators: Entities like Ankr, Paribu, and Meria provide validation services within the Chiliz ecosystem.

Emerging Chiliz Ecosystem

The Chiliz Chain is emerging as the go-to platform for leading sports brands in the web3 space. More than 80 Fan Tokens from prestigious sports clubs have already found their home on Chiliz Chain via Socios.com. These Fan Tokens are known for their high daily trading volumes, surpassing the global NFT market. Furthermore, the ecosystem extends beyond Fan Tokens to include metaverse-based sports experiences, interactive football games, community platforms, and social gaming products, enhancing fan engagement and brand affinity.

Permissionless Building

Chiliz Chain has transitioned to a permissionless platform, eliminating governance hurdles and allowing developers and companies to launch projects, smart contracts, and tokens. While fostering innovation, Chiliz Chain maintains robust safeguards against IP infringement, threats, and fraud.

Understanding “SportFi”

SportFi represents the fusion of sports and decentralization, enabling fans to commodify sports as valuable assets and strengthen their relationships with their favorite sports entities. It comprises three core elements:

1. Sport + DeFi (Decentralized Finance): Merging the passion of sports with the innovation of web3 decentralized finance to facilitate transactions between fans and sports entities.
2. Commodification of Sports: Transforming sports into valuable assets by allowing fans to transact and participate in fan communities without compromising team governance or financial stability.
3. Sport Fidelity: Utilizing blockchain technology to solidify the relationship between sports brands and fans, reinforced by the concept of asset ownership.

The Role of Chiliz Chain in SportFi

Chiliz Chain serves as the foundational infrastructure powering SportFi products. It is a Layer-1 EVM compatible blockchain tailored specifically for the sports and entertainment sectors. Chiliz Chain facilitates the creation and management of digital assets such as Fan Tokens and NFTs for ticketing and memorabilia.

In summary, the SportFi ecosystem by Chiliz Chain is not merely a concept; it is an operational network with over 25 key partnerships. This ecosystem promises substantial benefits to the sports industry, from Fan Tokens to innovative fan engagement opportunities. As the ecosystem continues to grow, the network effect is expected to amplify its offerings and value for sports brands, fans, and developers. Chiliz looks forward to ongoing collaboration as it explores this new frontier in sports and technology.

Impressive Figures

• Over 2 million users on the Socios.com app within the Chiliz chain, making it the largest non-finance/trading-centric web3 consumer-facing product worldwide by user base.
• 138 million Fan Tokens sold to sports fans across 160 countries.
• Over 3,000 Fan Polls launched, enabling fans to influence kit designs, squad numbers, and more.
• 16,000 Rewards redeemed, including unique experiences like announcing at a home game and playing alongside club legends.
• More than 3 million transactions on the Chiliz Chain.
• A total of $437 million in revenue generated for the sports industry since 2018.