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Chiliz (CHZ) – What’s New?

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The Chiliz ecosystem remains a pioneer in the sports collectible NFT market. The platform focuses on connecting sports teams and fans in innovative and equally fulfilling manners. Currently, Chiliz offers a variety of features that have helped it remain a strong contender in the market including NFT ticketing, fan tokens, and additional web3 focused strategies.

Chiliz has a strong presence in Korea and the network recently celebrated an anniversary commemorating its commitment to team members and fans. Currently, the Chiliz' Socios.com rewards app network has secured partnerships with multiple sports clubs including Valencia CF, Real Sociedad, FC Barcelona, Atlético de Madrid, Sevilla FC, Levante UD, and LaLiga. Here are some other vital updates and milestones that make Chiliz a vibrant blockchain project to watch.

New Ambassador

One of the biggest announcements the platform made this year was the signing of national football team member, Minjae Kim, as the new Brand Ambassador. The decision reflects the platform's focus on the Korean market. Kim, who plays center-back for Italian Serie A club S.S.C Napoli is recognized worldwide for his skill and fan engagement.

Source - Twitter Chiliz

Source – Twitter @Chiliz

The decision to use Kim can be seen as a nod towards further cooperation between fans and players in the future via blockchain channels. The CEO of Chiliz, Alexandre Dreyfus, spoke on how the maneuver falls in line with the firm's greater branding. It also coincides with the launch of a new logo and chain.

Incubator launches

Chiliz Labs launched a $50M incubator program this year which seeks to expand the community and promote more Dapp development. The grant will operate as an accelerator for projects that have the potential to drive Chiliz adoption and usage up.

As part of the decision, the team will focus on entrepreneurs and developers seeking to leverage blockchain assets to build communities and improve interactions between players and fans. For example, the incubator could help developers figure out the best way to teach users how to mint NFTs and much more.

Incubators and accelerator programs are one of the best ways for firms to expand their ecosystem. They help to bring new talent to the community and they provide key support where new projects need it most. The Chiliz incubator and accelerator will offer technical, financial, and legal support to the programs that qualify.

Chiliz Registered with the Bank of Spain

In an exciting turn of events, Chiliz fan-focused dapp, Socios.com managed to successfully register without the Bank of Spain. The Bank of Spain granted the crypto exchange compliance licensing officially on March 21, 2023. The licensing means that the bank has reviewed the exchange and the exchange agrees to adhere to the central bank’s anti-money laundering and counter-terrorist financing (AML/CTF) rules.

Spain has long been a crucial market for Socios.com and the maneuver places the platform in prime position for further NFT adoption. As an approved service provider, the platform can now offer users in Spain access to a variety of digital wallets, cryptocurrencies, and other blockchain assets.

The news places Chiliz in an exclusive class of approved and regulated NFT providers. The approval marks an important step in the network's plans to become the premier NFT sports collectible platform in the EU. It also helps to build community confidence in the long-term viability of the project.

Chiliz Chain Completes Public Launch

The recent launch of the Chiiz Chain mainnet was celebrated by the community. The layer 1 protocol will help to improve performance and programmability. The main advantages of the chain are full EVM compatibility and a new Proof of Staked Authority (PoSA) consensus system.

The new consensus system reduced the carbon footprint of the network considerably while not sacrificing performance. The updated blockchain features a high level of interoperability and shorter block times. These factors have excited the Chiliz development community.

The announcement came alongside the revealing of the new master node setup. The master node arrangement will include 11 industry leaders. Already, Jump Crypto, which is hosting the $50M accelerator program, and Ankr have signed on as nodes. These firms and the rest of the community seek to entice other blockchain stars and professionals to undergo the vetting process to qualify as a master node.

The upgraded network brings with it lower fees which help to drive innovation and dapp developer participation. Also. the PoSA consensus system provides another level of programmability to the platform with gas fees paid out in the network utility token CHZ. Additionally, users can now stake their tokens to receive rewards in CHZ.

Ankr layer 1 – Chiliz

The launch of the Chiliz mainchain was accompanied by another important announcement regarding Ankr becoming the Main RPC (remote procedure call) Provider for the network. RPCs are protocols that enable blockchain applications to communicate securely. They serve a vital role in connecting platforms like wallets, CEXs, and other Dapps.

Ankr is one of the most respected names in the market regarding RPC infrastructure. The firm currently offers services to some of the most notable names in the market including Ethereum, BNB Smart Chain, and Polygon. Ankr's RPC has been proven to be scalable and reliable under heavy traffic.

The introduction of a new RPC protocol should help to drive innovation in the Chiliz ecosystem. Developers will be able to build more immersive applications and connect them using the RPC. This capability can lower operating costs and improve functionality by leveraging the best aspects of other platforms rather than attempting to rebuild them.

Chiliz – Building a Strong Bond Between Players and Fans

Chiliz continues to expand its services in a bid to connect teams and fans in new ways. The network has already achieved success with over 150 major teams signed on to their roster and +2M wallets downloaded. As the network expands its offerings into new realms such as the metaverse, you can expect to hear more from the community. For now, Chiliz has momentum and is a smart project to watch.

To learn more about this project, make sure to visit our Investing in Chiliz Guide HERE.

David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.com