Jump Crypto Backs Chiliz’s $50M Incubator and Accelerator Program for Innovative Blockchain Projects in Sports and Entertainment
Chiliz, a global blockchain leader for Web3 sports and entertainment, announced the launch of its $50M USD incubator and accelerator program, Chiliz Labs, on March 1st, 2023. Backed by Jump Crypto, the program aims to provide strategic guidance and funding to viable and innovative early-stage blockchain projects leveraging the new Chiliz blockchain for sports and entertainment.
The Chiliz blockchain saw its genesis block validated on February 8th and has since been building the sports and entertainment industry’s largest community of fans, brands, and innovative developers, delivering the network benefits of a dedicated sports web3 ecosystem. As part of this vision, Chiliz Labs aims to build an ecosystem for entrepreneurs and developers focused on creating long-lasting, utility-oriented projects, and will announce its first partners soon.
Chiliz recently announced LiveLike and FanFest as the first companies committed to building on the new chain and will publicly announce 8-10 additional enterprise-level projects soon. These projects include NFT ticketing pilots, third-party athlete-focused Fan Tokens, and Web3 infrastructure partners building for sports and entertainment.
Kanav Kariya, President of Jump Crypto, said that Chiliz has developed a unique solution to one of the most salient problems that sports teams and leagues face, which is how to sustainably and affordably scale their brands and maximize fan engagement globally. Kariya added that they are excited to support Chiliz Labs to leverage Web3 technology to bring teams and their fans closer together.
Alexandre Dreyfus, CEO of Chiliz and Socios.com, said that they are harnessing blockchain technology to build communities where sports teams can have a direct relationship and value exchange with their fans. Developers choosing the Chiliz Chain to build their new innovative projects are central to their vision, allowing them to build an ecosystem of fan experiences and transactions where Fan Tokens provide a ‘digital key’ that can work across any products or experiences built on their infrastructure.
Chiliz is the creator of Fan Tokens and the Socios.com fan engagement and rewards app. Fan Tokens are fungible, scalable utility tokens that allow sports teams to connect with and reward their global fanbases. The Socios.com Fan Token ecosystem and audience continue to grow with more than 170 partners across the globe and more than 1.8 million wallets.
In December 2022, Chiliz announced the launch of Gameused.com, a new, end-to-end memorabilia authentication service for sports and entertainment, delivering storage, NFC and NFT authentication, redemption, and resale. The new service successfully premiered during the recent EA Sports Supercoppa Italiana, where Inter scored each of their three goals in the 3-0 victory against their local rivals. The balls were authenticated using Gameused.com technology and made available for $INTER Fan Token holders to redeem on Socios.com.
Chiliz has seen its workforce grow by over 70% in 2022, with its 300+ strong employees spread across nine locations around the world. The full mainnet of its new blockchain, the layer-1 blockchain for sports and entertainment, is set to be publicly available in the coming weeks. This chain will see Chiliz native token CHZ become the network enabler of a new, open, multi-vertical ecosystem where leading brands from sports and entertainment can mint NFTs and Fan Tokens, build DeFi products and Play2Earn games, and create an event, loyalty, and merchandising programs with all fees to be paid in CHZ.
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