Chiliz has announced an alliance with decentralized oracle network, Chainlink to create sports collectibles and Non-Fungible (NFTs) for their Socios Partners.
In other words, the partnership between Chiliz and Chainlink helps in minting Non-Fungible Tokens (NFTs) for Chiliz partners on their fan voting and rewards app in real-time. This will be based on real-world data and events provided by Chainlink’s decentralized oracle network.
Notably, the platform boasts of top partners such as major football clubs FC Barcelona, Juventus, Paris Saint-Germain, Atlético de Madrid, Galatasaray, A.S. Roma, CA Independiente, and Dota 2 esports champions OG. The platform also revealed their target of 50 IPs by the end of 2020 from sports, esports, and the entertainment industry.
Chiliz revealed plans to launch and support a Chainlink price reference contract for CHZ/USD. Therefore, helping them provide accurate on-chain pricing for conversions between $CHZ and USD. The key price feed gets secured by an aggregation of seven nodes and each source data from different data-aggregating APIs, ensuring the highest reliability for CHZ token conversions.
Importantly, the integration helps Chiliz create dynamic NFTs that are responsive to real-world, real-time sporting events and mint limited availability collectible tokens to follow them. For instance, a limited amount of tokens get minted when a soccer player scores a hat-trick during a game.
In recent months, Chiliz made tremendous progress. As of January 2020, Chiliz announced the launch of Chiliz.net, a mobile and desktop crypto exchange for sports and entertainment assets.
In February, Chiliz made its first major move into branded collectibles by announcing a partnership with blockchain ecosystem developer Enjin to mint Ethereum-based collectibles for partners on Socios.com.
Furthermore, CEO & Founder of Chiliz & Socios.com, Alexandre Dreyfus, said that NFTs remains key in expanding the utility of $CHZ in 2020 and beyond.
“We’ve already got an amazing roster of partners and will be adding many more as the year progresses, creating multiple opportunities to mint limited-edition licensed collectibles,” he added.
Chiliz (CHZ), a digital currency for sports and entertainment platforms. The token powers the world’s first scalable, tokenized voting platform, Socios.com where fans can buy, trade and execute voting rights in their sports teams.
A global sports and entertainment organization, Mediarex Group founded Chiliz in 2012. The Chiliz project reportedly raised $66 million from some of the world’s largest cryptocurrency exchanges and leading crypto funds in Asia, including Binance, OK Blockchain Capital, and Ceyuan Ventures.
Chainlink’s a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink also consistently gets recognized for being one of the top blockchain technologies by leading independent research firms such as Gartner. The network also holds a reputation for providing highly secure and reliable oracles to large enterprises such as Google, Oracle, and SWIFT. As well as, to leading smart contract development teams like Polkadot/Substrate, Synthetix, Loopring, Aave, OpenLaw, Etherisc, and Conflux.