Animoca Brands Joins Chiliz’s Popular SportsFi Ecosystem

The inclusion of Animoca Brands in this ecosystem solidifies Chiliz’s commitment to being the primary blockchain infrastructure for the sports and entertainment sectors.

On November 13, 2023, Chiliz revealed that Animoca Brands has become a validator and key participant on the Chiliz Chain, contributing to the decentralization of the platform’s governance. The Chiliz Chain serves as a catalyst for Web3 projects, particularly those focused on enabling sports brands to engage with and reward their fan bases through blockchain technology.

Animoca Brands is a very popular entity well-known for its pioneering work in blockchain within gaming and digital entertainment. Also, with a strategic emphasis on the sports sector, including products like ONE Fight Arena, AFL Mint, and REVV Motorsport, Animoca plays an active role in shaping the future of the Chiliz SportFi ecosystem by joining as a node validator.

This integration positions Animoca Brands within Chiliz’s dynamic ecosystem, connecting with elite sports brands and Web3 sports operators. Animoca Brands joins an existing group of validators, including Ankr, Paribu, Meria, Luganoes, and InfStones, operating on the Chiliz Chain using the Proof of Stake Authority (PoSA) node.

Validators play a pivotal role in governing and securing the network, facilitating the creation of Fan Tokens, NFTs, and decentralized applications (dApps), as well as verifying transactions and ensuring the secure execution of smart contracts on the Chiliz Chain. Speaking on the development, Yat Siu, co-founder and executive chairman of Animoca Brands said:

“Becoming a participant in the Chiliz Chain is an opportunity to meld our expertise in NFTs and gaming with the robust sports and entertainment Chiliz ecosystem. We have already seen the rise of DeFi and GameFi, and we believe that SportFi represents the next major growth area that will redefine fan engagement and create new financial dynamics in the sports industry. We look forward to the impactful innovations that will emerge from this collaboration.”

The Expanding Chiliz Ecosystem

Chiliz Chain is rapidly emerging as a hub for prominent sports brands in the Web3 space. It also offers builders the opportunity to explore inventive SportFi applications. In a move to further enhance accessibility for developers, Chiliz has eliminated the whitelist, streamlining the deployment process for SportFi solutions within the Chiliz Chain ecosystem.

The Chiliz ecosystem boasts a diverse range of offerings, including metaverse-based sports games, football and football manager games, community platforms driven by rewards and engagement, social gaming platforms, and digital sports collectibles.

The inclusion of Animoca Brands in this ecosystem solidifies Chiliz’s commitment to being the primary blockchain infrastructure for the sports and entertainment sectors, sparking a dynamic and extensive collaboration. This collaboration sets the stage for a network effect spanning GameFi, DeFi, and SportFi, establishing a strategic alliance that is poised to influence the future of these interconnected digital realms.

Blockchain News, Cryptocurrency News, News

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *