This year a number of high-profile partnerships have been formed between the cryptocurrency sector and major sports leagues, teams, and individual players. Today, gamers interact with their fans by issuing limited edition NFTs and other benefits associated with crypto and blockchain technology.
Cryptocurrency companies are also making their presence known by stitching their names onto T-shirts, buying rights to stadium names, and paying for cleverly placed primetime commercials between game breaks.
One project that has seen a recent surge in interest thanks to its focus on the world of sports and helping fans interact with their favorite teams and players is Chiliz (CHZ), the blockchain network behind the fan engagement platform. of Socios.com.
Data of Cointelegraph Markets Pro and TradingView shows that since hitting a low of $ 0.243 on September 29, the price of CHZ spiked 171% to a daily high of $ 0.657 on October 31 and recent developments are now pushing the price towards the high.
Three reasons for CHZ's growing strength include the launch of NFT live in-game, recent exchange listings for CHZ, as well as its newly launched fan tokens, and the protocol's rapidly expanding partner ecosystem.
NFT drops live in game
The development that kicked off the current rally was the launch of the first live NFT knockdown in platform play, which took place in a match between AC Milan and AS Roma.
This Sunday, history will be made by launching the first @AC Milan NFT.
Here's how you can be one of ONLY 100 to have one #ACMNFT | $ ACM ⚡️ $ CHZ pic.twitter.com/0z1aGyFgAC
- Socios.com (@socios) October 29, 2021
With this design, new NFTs are minted as they occur based on key moments in live matches and then dropped into the wallets of fan token holders who correctly predict the outcome of the game.
The announcement that this new NFT distribution method was followed by an increase in demand for the token, which has continued to grow in the following weeks.
CHZ support and fan token
Another reason for CHZ's momentum has been the addition of new exchange listings, as well as its newly launched fan tokens for clubs like São Paulo FC, AC Milan, and Manchester City.
Introducing Manchester City @City man Fan Token $ CITY on Binance Launchpool! Farm $ CITY by Staking #BNB, $ CHZ and $ BUSD Tokens
➡️ https://t.co/LvGgKeympQ pic.twitter.com/4V5OP63GFS
- Binance (@binance) November 10, 2021
In addition to the listings, Binance also allows fans to earn tokens from their favorite teams by betting on Binance Coin (BNB), Binance USD (BUSD), and CH.
OKEx also announced that it will support tokens from the Chiliz ecosystem and CHZ appears to have benefited from a new listing from the eToro crypto exchange on November 9.
Ecosystem expansion supports current rally
Ecosystem expansion could be another recent development that is strengthening CHZ's fundamentals.
More than 80 sports properties announced partnerships with @chiliz X @partners, more than +100 have already signed. As we improve our product and begin preparing a global marketing campaign, we focus on building a new leading fan ecosystem (engagement x monetization). #innovation pic.twitter.com/mZKOL6IyDH
- Alexandre Dreyfus (@alex_dreyfus) November 6, 2021
The platform recently unveiled a partnership with Kraft Sports and Entertainment that will see the New England Patriots of the National Football League (NFL) and the New England Revolution of Major League Soccer (MLS) join the Chiliz ecosystem and Partners
This partnership marks Chiliz's first foray into the NFL and MLS and indicates that the protocol is set to expand to cover all major sports leagues where there is fan demand for increased participation.
VORTECS ™ data from Cointelegraph Markets Pro began to spot a bullish outlook for CHZ on October 28, ahead of the recent price spike.
The VORTECS ™ score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements, and trading activity. Twitter
![](https://i1.wp.com/s3.cointelegraph.com/uploads/2021-11/d983b1f4-5d87-4e70-a632-45347bcf04fd.png?ssl=1)
As seen in the chart above, the VORTECS ™ score for CHZ began to rebound on October 27 and reached a high of 70 on October 28, just as its price began to increase 125% over the next two weeks.
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