Chiliz, a global company dealing with blockchain for sports and entertainment, has thrown out its incubator and accelerator program, Chiliz Labs, with support from Jump Crypto. The $50 million program intends to invest in early-stage blockchain projects leveraging Chiliz's sports and entertainment blockchain and partner network Socios.com.
We are excited to announce the launch of our $50 million dollar incubation and acceleration program, Chiliz Labs!
Supported by @hop_ Chiliz Labs will foster viable and innovative early-stage blockchain projects that seek to leverage the new Chiliz blockchain.
โก๏ธ $CHZ
โ Chiliz ($CHZ) - Potenciando Socios.com โก (@Chiliz) March 1, 2023
According to the announcement, Chiliz aims to build the largest community of fans, brands and developers in the sports and entertainment industry to create a Web3 ecosystem dedicated to sports. These projects will leverage the new Chiliz sports and entertainment blockchain, the genesis block of which was validated on February 8. The incubators and accelerators program promises to provide funding and strategic guidance to help these projects achieve their goals.
Chiliz has announced LiveLike and FanFest as the first companies to build on the new chain, with eight to ten more enterprise-level projects to come. These projects will include NFT ticketing pilots, athlete-focused Fan Tokens, and Web3 infrastructure partners building for sports and entertainment. Jump Crypto President Kanav Kariya praised Chiliz for solving the problem of how to scale brands and maximize fan engagement in a sustainable and affordable way.
Chiliz CEO Alexandre Dreyfus highlighted the importance of Chiliz Labs in building an ecosystem of fan experiences and transactions with Fan Tokens providing a "digital key" that can work on any product or experience built on its infrastructure. Chiliz is the creator of Fan Tokens and Socios.com's fan engagement and rewards app, with over 170 partners and over 1.8 million wallets.
Related: Binance Will Bring Fans Closer To Sports Teams With A Fan Token Platform
As blockchain technology continues to revolutionize industries across the globe, it continues to find exciting use cases in the world of sports with the rise of Web3 platforms, offering new ways to engage fans and drive value for brands. sports.
As previously covered by Cointelegraph, Web3 projects aim to create engagement between fans and sports leagues.. In Deloitte's "2022 Sports Industry Outlook" report, he predicted an acceleration in the blending of the real and digital worlds, along with growing markets for non-fungible tokens (NFTs) and immersive technologies.
According to the report, these developments could lead to an increase in fan engagement, which has been the foundation for securing sponsorship revenue, ticket and merchandise sales, as well as the overall appeal of a sports league for a long time. time.
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