Chiliz Hot Streak Sees CHZ Notching 13% Rally Ahead Of Chain 2.0 Launch
Chiliz is shaking up the sports and entertainment industry with its innovative use of cutting-edge digital assets to elevate fan experiences. At the core of this revolutionary ecosystem lies CHZ, the native token that fuels popular platforms such as Socios.com, ChilizX, and the highly anticipated Chiliz Chain 2.0.
The upcoming public launch of their layer 1 blockchain on May 10 has already resulted in a surge in CHZ’s popularity. As the token’s momentum builds, the question on everyone’s mind is: how high can CHZ’s value soar in the months to come?
Chiliz Chain 2.0: The Next Step in Blockchain Evolution
Chiliz is ushering in a new era of blockchain technology with the launch of Chiliz Chain 2.0 – a fork of the BNB Chain that operates on a proof-of-stake authority (PoSA) consensus mechanism.
This groundbreaking technology allows for shorter block times, reduced fees, and lower energy consumption. Moreover, the new chain remains compatible with Ethereum and is powered by the native CHZ token.
Public launch of the new Sports Blockchain_
𝐓𝐡𝐞 𝟏𝟎𝐭𝐡 𝐨𝐟 𝐌𝐚𝐲#ChilizBlockchain
$CHZ pic.twitter.com/xNHnCfriin
— Chiliz ($CHZ) – Powering Socios.com
(@Chiliz) March 28, 2023
Since the announcement of the launch, the hype surrounding Chiliz Chain 2.0 has caused a surge in the value of CHZ. According to Coingecko data, CHZ is currently trading at $0.1360, representing a 24-hour rally of 7% and an impressive seven-day increase of 13%. With the launch of this game-changing blockchain, the sky’s the limit for the future of CHZ.
CHZ: Beyond Fan Tokens
Chiliz has become a major player in the fan token frenzy, providing specialized cryptocurrencies for popular sports teams like Arsenal, Manchester City, and Paris Saint-Germain, among others. These tokens enable fans to participate in team decisions, such as voting on new uniforms and stadium names.
But Chiliz isn’t content with just fan tokens. To attract new partners to its ecosystem, the sports-centric crypto project announced a $50 million incubator on March 1, backed by Jump Crypto.
The objective of the incubator is to allocate funds towards promising Web3 startups in the sports and entertainment industries, which can leverage the Chiliz Chain for their projects.
Chiliz is not resting on its laurels when it comes to expanding its ecosystem. Currently, eight to ten projects are already in the works, with plans to build on the Chiliz Chain network. Additionally, the company is investing in other enterprises to expand its influence in the sports and entertainment sector.
One such investment is the acquisition of a 20% stake in MatchWornShirt, an auction site for player jerseys. The company will now use blockchain technology to authenticate the items, making it a valuable addition to the Chiliz portfolio.
With its sights set on innovation and growth, Chiliz is positioning itself as a leader in the rapidly evolving world of sports and entertainment technology.
-Featured image from Wikimedia Commons
