Animoca Brands Amplifies Sports Blockchain Ecosystem as New Chiliz Chain Validator

Strategic move to reinvent fan engagement in sports through blockchain technology

In an exciting move for the sports blockchain sphere, Animoca Brands, a dynamic venture capital firm, has joined the Chiliz Chain network as a validator. This collaboration is set to enhance the fan token blockchain, a central feature of Socios.com, which powers fan tokens for major football and sports teams globally.

Animoca Brands, co-founded by Yat Siu, is leveraging this partnership to merge its expertise in non-fungible tokens (NFTs) and gaming with Chiliz’s specialization in sports and entertainment blockchain solutions. This union signifies a new era in fan engagement, introducing innovative financial dynamics in the sports industry.

“We’re witnessing a surge in decentralized finance and gaming finance, and we’re excited about ‘SportFi’ being the next big growth domain, redefining how fans interact with sports,” said Siu.

Chiliz CEO Alexandre Dreyfus remarked that Animoca’s involvement as a validator is a monumental moment, fortifying Chiliz’s role as a key player in blockchain solutions for the sports industry and broader Web3 functionalities.

As the latest validator of the Chiliz Chain, Animoca joins esteemed entities like Ankr and InfStones in authorizing fan tokens, NFTs, and decentralized applications. This step enhances the network’s security and efficiency, embodying the essence of proof-of-stake blockchain protocols.

Animoca has diversified its investments within the Web3 and sports sectors, with ventures like One Fight Arena and REVV Motorsport, further bolstered by its acquisition of Eden Games. This move expands its capacity in blockchain-based racing games.

Meanwhile, Chiliz has launched its layer-1 Ethereum Virtual Machine-compatible blockchain ecosystem, transitioning from its Ethereum-based ERC-20 token system. This development promises faster transaction times, reduced fees, and lower energy consumption, setting a new standard in blockchain sports engagement.

Source: https://cointelegraph.com/news/animoca-becomes-chiliz-chain-validator 

Image: https://unsplash.com/photos/yellow-ball-on-water-during-night-time-Q-fL04RhuMg 

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