Venture capital firm Animoca Brands will put its weight behind fan token blockchain Chiliz Chain as it joins the network as a validator within its proof-of-stake authority protocol.
Chiliz Chain is the backbone of Socios.com, the platform that operates a plethora of fan tokens for some of the biggest global football and sports teams. Europe’s most loved football clubs and a number of household sports brands have tapped into the solution to power Web3 fan tokens and other blockchain-based offerings.
Animoca Brands co-founder Yat Siu says the partnership presents an opportunity for his firm to combine its expertise in nonfungible tokens (NFTs) and gaming with Chiliz’s focus on sports and entertainment-focused blockchain solutions.
“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.”
Chiliz CEO Alexandre Dreyfus adds that Animoca’s addition as a network validator marks a pivotal point in the firm’s history as it looks to solidify its position as a major blockchain solution primarily focused on catalyzing Web3 functionality and the wider sports industry.
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