Chiliz, a prominent player in utilizing blockchain technology for the global sports sector, has announced the addition of Animoca Brands as a validator on its proprietary Chiliz Chain. The move symbolizes an essential step in the progression of decentralizing the governance of the Chiliz Chain, which originated this year to support Web3-ready projects and empower sports brands to engage and reward their fans with blockchain technology.
Animoca Brands Integrates with Chiliz Chain
Animoca Brands, celebrated for its contributions to Web3 applications in diverse arenas, including gaming and digital entertainment, has now stepped into the game to shape the path and governance of the Chiliz SportFi ecosystem. They collaborate with over 150 brands, featuring partnerships with footballing giants like FC Barcelona, Paris Saint-Germain, Manchester City, and Juventus which have already launched on the Chiliz Chain via Socios.
This alliance allows Animoca Brands to integrate with Chiliz’s network of sports brands, teams, and Web3 sports operators. With this move, Animoca Brands will further reinforce its bandwidth in the sports sector.
Yat Siu, the co-founder and executive chairman of Animoca Brands, highlighted the significance of their involvement in the Chiliz Chain, stating, “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.”
Strengthening Network Governance with Mainstay Validators
As Animoca Brands joins an established network of validators, including Ankr, Paribu, and Meria, it will anchor its crucial role in the governance and security of the Chiliz blockchain network. Validators in the Chiliz Chain, functioning under the Proof of Stake Authority (PoSA) node, play an essential role in forging Fan Tokens, NFTs, and decentralized applications (dApps). They also ensure the secure execution of smart contracts.
The Chiliz ecosystem is rapidly gaining traction as a central hub for sports brands in Web3. Moreover, Chiliz is amplifying the reach of its chain by removing the whitelist. This design promotes an environment that encourages the evolution of SportFi solutions.
nftnewstoday.com
