Chiliz, a leading blockchain provider for the sports industry, recently announced its SportFi ecosystem now consists of more than 25 partners spanning diverse categories. The goal is to blend sports and decentralized technologies to transform fan engagement and business models.
With over 2 million users on its Socios.com platform, Chiliz has already seen substantial adoption. It has sold 138 million fan tokens to date, enabling supporters to vote on club decisions and access VIP rewards.
Some key metrics highlight the tremendous growth of Chiliz’s sports blockchain ecosystem so far:
- Over 3 million transactions processed
- $437 million in revenue generated for sports entities
- 80+ major clubs are utilizing branded fan tokens
At its core, the Chiliz ecosystem provides infrastructure like exchanges and wallets for fan tokens and digital collectibles. But it also contains games, metaverse experiences, prediction markets, and community apps to immerse fans in new ways.
For example, the Socios.com app has already facilitated over 3,000 fan polls on topics ranging from kit designs to stadium anthems. And 16,000 rewards have been redeemed for once-in-a-lifetime experiences like playing with club legends.
Beyond fan tokens, Chiliz Chain now enables the open development of any sports-related projects, contracts, and tokens without governance restrictions. This allows for boundless innovation in fan engagement and business models.
According to Chiliz CEO Alexandre Dreyfus, the company’s goal is to shift sports brands’ relationships with supporters by enhancing interactivity. He touted the open ecosystem that smoothly onboards new partners.
Diverse Partnerships Accelerate Adoption
The Chiliz ecosystem already consists of diverse partners across four primary categories:
Infrastructure – Provides underlying blockchain architecture like RPC nodes, analytics, security, and connections between services. Partners include Ankr, Pyth, Chainalysis, WalletConnect, and more.
Applications – Features platforms for engagement, rewards, games, predictions, digital assets, and more. Notable partners are Socios.com, FanFest, TopGoal, Play Caller, and others.
Marketplaces – Enables exchange of fan tokens, NFTs, collectibles, and other tokenized assets. Major partners include Binance, OKX, ChilizX, and Rarible.
Custody & Finance – Offers secure asset storage and emerging DeFi services. Partners include BitGo, Fireblocks, Coin98, and LENX.
This multifaceted ecosystem delivers tangible utility to diverse users in sports:
Fans – Get new avenues to engage with favorite teams, access VIP benefits, and directly influence decisions. Fan tokens enhance supporter relationships.
Clubs & Leagues – Unlock fresh revenue streams and marketing opportunities by leveraging new digital assets tied to their intellectual property.
Developers – Can build innovative blockchain solutions for sports without restrictions imposed by legacy systems. The open ecosystem encourages creativity.
Partners – Projects and companies can seamlessly integrate with a specialized sports blockchain and tap its committed user base.
Merchants – New options to create and sell digital collectibles, memorabilia, NFTs, predict game odds, and more. Additional sales channels open up.
Fan Tokens: Driving Adoption and Engagement
A major focus and success have been Chiliz’ fan tokens, which are branded cryptocurrencies for specific teams. Over 80 major clubs have launched fan tokens, including Barcelona, Juventus, Paris Saint-Germain, Inter Milan, Manchester City, Arsenal, and others.
Fan tokens enable supporters to vote on club decisions, access VIP rewards and promotions, enter contests, play games, and more. Tokens also provide perks like membership discounts, special merchandise, and influencer access.
According to Chiliz data, fan token trading volume is typically 400% higher than the entire NFT market. Fan token adoption is clearly surging.
Exchanges have also added support, with fan tokens tradable on platforms like Binance, OKX, Paribu, ChilizX and more. Enthusiastic engagement from supporters has fueled fan token expansion.
The Future of Sports Business and Consumption
While still early, Chiliz has proven itself a trailblazer in leveraging blockchain for sports engagement. Fan token adoption validates the appetite for digital, tradable assets aligned with supporters’ passions.
Chiliz aims to be the backbone for sports brands, decentralizing intellectual property and transforming engagement. Through fan tokens, native assets, NFTs, DeFi, games, marketplaces, and more, the possibilities are endless.
While still in the early innings, Chiliz’s vocal CEO sees a future with billions of sports fans embracing crypto. The company’s ambitious roadmap backs up that lofty goal. Its ecosystem now sits at the epicenter of technology, transforming sports’ business models and engagement.
Source: https://thenewscrypto.com/chiliz-unveils-sportfi-ecosystem-with-over-25-partners/