Chiliz to launch SportFi ecosystem for creation of fan-centric dApps

Amid several bullish weeks for the fan token project Chiliz (CHZ), its team has announced the launch of SportFi, an ecosystem that aims to allow developers to create fan-centric decentralized applications (dApps) while protecting them against intellectual property infringement and fraud.

Specifically, the fintech platform that powers Socios.com, a fan engagement and rewards network through which sports enthusiasts can interact with their favorite teams and clubs in innovative ways, made the announcement of the SportFi ecosystem in an X thread published on October 27.

What the news entails

According to the statement, the latest “groundbreaking development (…) empowers you to create fan-centric applications, explore innovative solutions, and craft unique experiences,” adding that “the possibilities are limitless, and you have the freedom to experiment and innovate without constraints.”

On top of that, as part of Chiliz’s commitment to protecting its users and partners, the company said that Chiliz Chain would also introduce a blacklist feature that promises to keep participants safe against intellectual property infringement, threats, and fraud.

Chiliz Chain’s success

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Meanwhile, professional sports teams have been lining up to issue their own tokens on Chiliz Chain via Socios.com, including the English Premier League’s Tottenham Hotspur, which launched a Fan Token Offering (FTO) for its official SPURS fan token in early October.

As a reminder, Chiliz issued its CHZ token in October 2018 as part of its active work on the blockchain platform Socios, six years after the company’s foundation under Malta-based Mediarex Group, an international sports and entertainment organization.

At press time, CHZ was changing hands at the price of $0.065, which is a decline of 3.28% in the last 24 hours but still represents a growth of 12.16% across the previous seven days, and an 11.87% gain across the previous month, according to the most recent data by Finbold on October 27.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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