Chiliz is rolling out the second iteration of its sports-focused blockchain service, with plenty of benefits for collectors.
Partnering with Ankr, Chiliz is looking to take control of the Sports NFT and Fan Token space. In a Medium article posted by Chiliz in February, the platform announced a Q1 release of Chiliz Chain 2.0. Well, the launch is just around the corner. Let’s look at what Chiliz and Socios are doing to completely revolutionize the sports and entertainment industries as we anticipate the release of Chiliz Chain 2.0!
With Chiliz 2.0, brands and personalities will be able to easily and instantly create digital assets on the blockchain. This means that any team, player, or organization can seamlessly create:
- Fan Tokens
- Metaverse Assets
and more digital goods. All gas fees will be paid in $CHZ, while supposedly offering gas fees 500x cheaper than that of the ETH network.
Additionally, Chiliz Chain 2.0 will allow holders to lock up their $CHZ tokens in staking initiatives for the first time. Chiliz is looking to take their token utility past just transactions. The goal is to create the backbone for the future of the Sports and Entertainment industry.
What Does Chiliz Chain 2.0 Mean for Fans?
With the first announcement of this back at the beginning of February, things are starting to heat up as we near launch. Currently, its Socios.com platform is home to over 130 sports organizations’ Web3 efforts. This includes:
- FC Barcelona
- Manchester United
- Los Angeles Lakers
and many more NBA, NFL, MLB teams, and European football clubs.
— Coin98 Analytics (@Coin98Analytics) February 22, 2022
Now, what does this actually mean for fans? Well, aside from giving true utility to their $CHZ bags, this change is going to radically increase the accessibility to this service.
Chiliz Chain 2.0 is being built as an evolution of the BSC network. But, Ankr is still including comparability with the Ethereum Network. This means that projects will be able to create contracts that allow for interactions with ERC-20 tokens.
With public testnet launching sometime soon, expect this platform to take the sports world by storm.
$CHZ Price Analysis
At the time of writing, $CHZ is sitting at $0.19, up 4.4% in the last 24 hours, according to CoinGecko. The token has seen $113,971,244 in total trading volume over the last 24 hours.
On the other hand, $ANKR is currently $0.07 per token, up 3.3% from yesterday.
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