Benzinga - Blockchain technology company for the sports and entertainment industry Chiliz (CRYPTO: CHZ) is marking its fifth anniversary by rebranding and launching a new layer-1 blockchain.
The genesis block of the new EVM-compatible Chiliz blockchain has been validated, and the launch of the new chain is expected to attract more Web3 developers and brands.
Chiliz has issued Fan Tokens through its fan rewards and engagement app Socios.com, working with over 170 major sporting organizations.
The Chiliz Blockchain will allow sports and entertainment brands to create NFTs, Fan Tokens, and DeFi products, and engage with fans in the web3 environment.
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Chiliz CEO, Alexandre Dreyfus, said that the company is focused on unlocking the potential web3 can bring to fan communities and will continue to develop its infrastructure and network.
The Chiliz native token, CHZ, will be the fuel for the Chiliz Blockchain ecosystem and token holders can receive rewards for staking.
The Chiliz Blockchain will introduce a system of 11 active validators and is committed to growing and developing its technology sustainably.
Chiliz reports having over 300 employees worldwide, and the Socios.com Fan Token ecosystem has over 1.7 million wallets and 170 partners globally.
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