Securities.io is committed to rigorous editorial standards. We may receive compensation when you click on links to products we review. Please view our affiliate disclosure. Trading involves risk which may result in the loss of capital.
Table Of Contents
Chiliz has announced its partnership with Ankr to aid in developing Chiliz Chain 2.0 (CC2). Chiliz is the largest blockchain provider in the sports and entertainment sectors.
Ankr will be used to implement the Chiliz Chain 2.0. It will do this by launching a validator and providing the Chiliz blockchain with easy-to-use node hosting services. Via this initiative, the Chiliz blockchain wants to make its ecosystem accessible to a larger audience in 2022.
Chiliz to unveil the Chiliz Chain 2.0
The Chiliz blockchain rose into popularity in 2021 after promoting blockchain technology in the elite sporting sector. It was through this blockchain that the now popular fan tokens were developed. The Socios.com platform has also been instrumental in promoting the platform's growth.
CC2 seeks to boost the increased adoption of blockchain technology in the sports and entertainment sector. It seeks to attract more projects from the two sectors to build fan tokens, non-fungible tokens (NFTs) and other digital assets. The fees paid by developers that want to build on this blockchain will be in the form of CHZ, the native token of the Chiliz blockchain.
Ankr, one of the leading decentralized infrastructure providers, will be tasked with bringing this vision to life. Launching this next version of the Chiliz blockchain will boost the utility of the CHZ token. Currently, CHZ is a transactional token used on the Socios.com platform. This will now change as the token will power the Chiliz blockchain, which is now highly popular in the sports and entertainment sector.
The CEO of Chiliz, Alexandre Dreyfus, commented on this development, saying, “with the rock-solid foundations provided by Ankr, Chiliz Chain 2.0 has the potential to become a game-changing blockchain that will have a profound impact, not only in the blockchain space but across the entire landscape of mainstream sports and entertainment.”
Dreyfus further noted that Socios.com would no longer be the only major development on the Chiliz network. This transition would allow CHZ to meet the evolving needs of its partners and millions of fans globally.
“And, while Socios.com will continue to grow rapidly, we look forward to the emergence of a much broader Chiliz narrative and a multifunctional future for $CHZ as the network enabler of the new expansive Chiliz Chain 2.0 ecosystem,” he added.
Ankr CEO Chandler Song added that it supported CHZ in bringing changes in the sports and entertainment sector. The two firms would be working together for many years to bring the blockchain project to the next level.
CC2 will also come with the launch of Chiliz Labs. This will be an accelerator programme that will support projects that want to use blockchain to support the development of sports and entertainment projects. The public testnet launch for Chiliz Chain 2.0 is scheduled for the first quarter of 2022.
Chiliz records growing adoption
The Chiliz blockchain has recorded a notable level of adoption over the past year, with its success mainly being in fan tokens and the Socios.com platform. More than 130 sporting organizations globally have adopted the Socios.com platform. The platform allows these organizations to boost fan experiences.
Some of the notable firms that have partnered with the Socios.com platform include FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, Inter Milan and Arsenal. Other notable MMA brands have also partnered for this initiative, including Formula 1 teams, esports teams, NHL, NFL, MLS and NBA.
To learn more about this token visit our Investing in Chiliz guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.