Chiliz, the revolutionary project in the sports and entertainment sector, is making headlines with its use of digital assets in leading fan experiences. It depends on its native token, CHZ, for powering popular platforms such as Socios.com, ChilizX, and the upcoming Chiliz Chain 2.0. To accommodate the public launch of the layer 1 blockchain on May 10, the token’s popularity and momentum is surging, setting the stake higher than ever.

Chiliz Chain 2.0 is a fork of the BNB Chain and promises to be a revolutionary technology with its proof-of-stake authority (PoSA) consensus mechanism bringing shorter block times, reduced fees, and lower energy consumption. Plus, despite being different from Ethereum, the new blockchain will remain compatible while CHZ serves as the native token. Ahead of the public launch, it is no surprise that the hype has given rise to CHZ’s soaring popularity with a 24-hour rally of 7% and a seven-day increase of 13%.

The fan token frenzy is managed by Chiliz which specializes in providing cryptocurrencies for popular sports teams like Arsenal, Manchester City, and Paris Saint-Germain. Fans get to be part of the team’s decisions, such as voting on new uniforms and naming stadium by using these tokens. Additionally, the success has led the firm to launch a $50 million incubator in March. With support from Jump Crypto, the incubator is open to Web3 startups in the sports and entertainment sector to leverage the benefits of the Chiliz Chain and attract new partners to its ecosystem.

To further expand and improve its influence, Chiliz is investing in multiple enterprises, one of which is MatchWornShirt, a platform for player jerseys. The company is now using blockchain to authenticate the items, making it a valuable addition to the Chiliz portfolio.

Thanks to its ambitious sights on innovation and growth, Chiliz is laying a strong foundation as the go-to crypto project in the sports and entertainment industry. The launch of Chiliz Chain 2.0 on May 10 is an exciting new chapter for CHZ as the sky’s the limit for the value of its token with the transition to the groundbreaking Ethereum blockchain.



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