By
Bhushan Akolkar
July 2nd, 2024
Chiliz’s SportFi ecosystem, where sports and decentralization converge, unveiled more than 25 projects. This thriving ecosystem transforms sports into valuable digital assets, fostering innovative fan engagement and experiences.
On Thursday, November 2, sports blockchain network Chiliz introduced over 25 projects within its SportFi ecosystem. This ecosystem is where the worlds of sports and decentralization come together to offer fans innovative products and experiences.
Chiliz envisions SportFi as a platform where blockchain technology can turn sports into valuable digital assets, creating a new way for sports entities to interact with their communities. Beyond merely a concept, SportFi is a thriving ecosystem that provides opportunities for sports rights holders to explore new ways of utilizing their intellectual properties. This includes enhancing existing areas like ticketing by seamlessly integrating real-world and digital experiences.
Breaking: @chiliz announces 25 partners integrated to Chiliz Chain. The #SportFi ecosystem is growing everyday. Let's list below all all of the partners.https://t.co/JyR0CBcsGZ pic.twitter.com/wmsfvpWoQb
— Alexandre Dreyfus 🇹🇷 (@alex_dreyfus) November 2, 2023
Also, the Chiliz ecosystem list includes Fan Tokens, Infrastructure tokens, Marketplaces, Fan Apps, DeFi, Custodial wallets, validators, etc. Chiliz Chain is rapidly emerging as the hub for prominent sports brands in the web3 space, offering a canvas for innovators to explore pioneering SportFi applications. Over 80 Fan Tokens representing leading sports clubs such as FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, S.S.C Napoli, Inter Milan, AC Milan, Arsenal, Atlético Madrid, and A.S. Roma have already found a home on the Chiliz Chain through Socios.com.
These Fan Tokens have daily trading volume which is typically 400% higher than the global NFT market. Besides, they are now tradable on various marketplaces, including Binance, OKX, Bitget, Paribu, ChilizX, among others. In addition, the Chiliz Chain ecosystem boasts a wide array of community apps like Socios.com, and custodial solutions such as BitGet Wallet, Magic Link, and Fireblocks. Additionally, it also hosts upcoming DeFi lending and DEX solutions like Lenx and PepperSwap.
This multi-faceted Chiliz ecosystem offers a new dimension to the way fans engage with sports. Chiliz Chain has recently shifted to a permissionless framework, enabling developers and companies to initiate projects, smart contracts, and tokens without encountering governance-related obstacles.
Understanding SportFi and the Role of Chiliz
SportFi merges sports and decentralization, empowering fans, and boosting brand-fan connections through blockchain. It comprises three key elements:
- Sport + DeFi: Combining the passion of sports with web3 DeFi for seamless fan engagement, investment, and partnerships.
- Commodification of Sports: Transforming sports into valuable assets, enabling fan transactions and engagement without impacting team governance.
- Sport Fidelity: Strengthening the bond between sports brands and fans through blockchain, reinforced by asset ownership, giving fans control over their access and membership.
The Chiliz Chain also serves as the foundational infrastructure for SportFi offerings, designed as a Layer-1 EVM-compatible blockchain customized for the sports and entertainment industries. It facilitates the generation and administration of fungible digital assets, such as Fan Tokens for fan engagement and NFTs for ticketing and memorabilia.