Chiliz launches its blockchain: Now offering free NFTs

Chiliz launches its blockchain: Now offering free NFTs

Chiliz, a social media solutions provider, has recently launched its blockchain technology, dubbed a “layer one blockchain.” This innovation eyes to provide improved security and control over fan tokens and other digital assets.

Chiliz Launches Layer 1 Blockchain

Chiliz has launched its Chain 2.0 blockchain version to mark its fifth anniversary. This upgraded blockchain operates on a proof-of-stake authority (PoSA) consensus mechanism, providing faster block times, lower fees, and decreased energy usage.

In addition, Chiliz is offering a limited-time introductory deal, giving away free non-fungible tokens (NFTs) to new users who sign up. NFTs are one-of-a-kind digital assets stored on a blockchain and represent anything from art to music to collectibles. By grabbing this chance, individuals can obtain a verified and secure piece of digital history safeguarded on the blockchain.

The Chain 2.0 also includes a revamped logo, showcasing the company’s commitment to innovation. As a blockchain compatible with the Ethereum Virtual Machine, Chiliz Chain 2.0 will continue to benefit from using Ethereum-related tools and technologies.

Chiliz Chain 2.0’s implementation will also give sports and entertainment brands and developers the ability to generate unique, non-replaceable tokens (NFTs). They can establish decentralized finance (DeFi) systems and engage in games that reward players for their achievements.

Chiliz CEO unveils transition to Blockchain Ecosystem Chain 2.0

Chiliz CEO Alexandre Dreyfus highlights the importance of evolving from a simple token to a full-fledged blockchain ecosystem by introducing their “Fan Token Everywhere” program. The Chiliz Chain, established in 2019, will become more accessible as they strive to improve in-stadium fan engagement, provide Web3-based ticketing and payments, and bring back the traditional fan practice of collecting memorabilia. Memorabilia into the Web3 environment.

“Transforming from a token to a blockchain ecosystem was crucial for us. The Chiliz Chain has been operational since 2019, but until now, it was isolated from other systems. With the unveiling of our “Fan Token Everywhere” initiative, it will become more integrated.”

Chiliz is touted as an excellent option by the company due to its provision of API access, vast user community, and robust network effect. Furthermore, the company intends to launch up to ten crucial projects utilizing the Chiliz blockchain in the coming months. These ventures will encompass trials for NFT ticketing, athlete-focused fan tokens, and alliances with Web3 infrastructure firms.

The Chiliz token (CHZ) is the driving force behind the Chiliz ecosystem. adding utility for various functions, such as accessing dApps, deploying smart contracts, and moving token assets between Chiliz Chain 2.0 and Ethereum. 

In addition, CHZ holders who contribute to network security through staking will receive rewards. To increase the adoption of its blockchain, Chiliz intends to organize hackathons for developers globally, taking place at stadiums and sports arenas in 2023 and 2024.

With the new layer one blockchain, Chiliz can expand the success of its fans tokens and the Socios platform.

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