As Chiliz 2.0 is rapidly approaching, the ecosystem's fans, along with its CEO Alexandre Dreyfus, took to Twitter to rejoice over the new features being brought to the table.
Chiliz (CHZ) is a cryptocurrency that enables sports teams to develop a closer relationship with their fervent fans. The revolutionary idea is made possible through blockchain technology, allowing sports clubs and players to foster engagement through a wealth of Web3 products.
It is likely that, in the medium term, a portion of the club's economy will shift to the blockchain, at least for transactional purposes such as subscription sales and even more so for issues of loyalty and club governance.
The major teams have realized that a part of their economy depends on the loyalty of certain supporters. However, until now, there was an issue as the opinions of these hardcore fans were never consulted, giving an impression of illegitimate governance.
The Socios platform, fully powered by the CHZ crypto, has brought a fresh breath to the concept of fan "supporting" through the issuance of fan tokens and numerous other tools. As a result, today, a major upheaval is imminent for CHZ!
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A Mission Accomplished Dreyfus' tweet conveys this sentiment:
The launch of Chiliz 2.0, a blockchain organized around sports and entertainment industry. Staking, decentralized exchange, new project launches, new standards, NFTs, audits, fan tokens and more… All of this with the help of 150 sports teams and over two million users. Stay tuned…
This was accompanied by a retweet of a graphic video annotated with a timeline of Chiliz updates, showing that we are currently ready for the final phase.
This announcement completes an active evolution, with the hard fork that took place on January 25th, on which occasion the Spicy Testnet was launched to reach a new level of security on this second-layer blockchain, recall that Chiliz is a layer-2 grafted onto Ethereum.
This hard fork was the final step before the actual launch of Chiliz 2.0. In the long run, it will replace the Spicy Testnet implemented in March 2022, but for now, both will function concurrently.
What new features will Chiliz 2 have? This migration will enable brands, clubs and other sports industry players to create NFTs, fan tokens, offer DeFi products, but also develop Play-to-Earn experiences around the sports theme.
Brian Leclere
