Chiliz unveils SportFi ecosystem with 25 strategic partnerships, empowering sports brands to launch innovative products
Nickie Louise
Posted On November 2, 2023
Chiliz, a sports blockchain startup company, today unveiled its SportFi ecosystem, featuring partnerships with over 25 sports brands. The new ecosystem aims to deliver new products and experiences to fans using blockchain technology. This collaborative space brings together the worlds of sports and decentralization to offer new ways to engage with fans.
In an announcement, Chiliz also shared some remarkable metrics, such as over 3 million transactions conducted on the Chiliz Chain and the generation of $437 million in revenues for the sports industry since 2018.
Chiliz envisions SportFi as a platform to transform sports into valuable, tradable digital assets and foster a novel way of interaction between sports entities and their communities. Some key aspects of SportFi’s initiative include:
- Fan Tokens: Sports brands can leverage SportFi to launch their own fan tokens, offering fans unique ways to engage with their favorite teams and athletes. These tokens might enable voting on team decisions, exclusive content access, or early ticket access.
- Non-Fungible Tokens (NFTs): SportFi facilitates the launch of NFTs, unique digital collectibles that can represent various items from player autographs to limited-edition team merchandise.
- Decentralized Applications (DApps): SportFi supports the development of DApps, applications running on a blockchain. This allows sports brands to create innovative ways for fans to interact, such as through fantasy sports games or prediction markets.
Beyond just a concept, SportFi represents a dynamic ecosystem that presents groundbreaking opportunities for sports rights holders. It facilitates the innovative use of intellectual properties, enhancing traditional aspects like ticketing and memorabilia by blending real and digital experiences. Moreover, it paves the way for entirely new avenues of business.
| Chiliz Ecosystem List | By Category |
| Fan Tokens | Paris Saint-Germain Fan Token (PSG), Juventus Fan Token (JUV), AC Milan Fan Token (ACM), Atletico Madrid Fan Token (ATM), Argentine Football Association Fan Token (ARG), AS Roma Fan Token (ASR), FC Barcelona Fan Token (BAR), Galatasaray Fan Token (GAL), Napoli Fan Token (NAP) + 70 more |
| Infrastructure | Moralis, Tatum, ANKR (RPC), Pyth, Biconomy, Rarible (tools), Magic Link (tools), WalletConnect, Chainalysis, Tokenproof, Thirdweb |
| Fan/ Community Apps | Socios.com, Blockasset, FanFest, LiveLike, Tickie, Legend, Football at AlphaVerse, TopGoal, Stars League, Lillius, Play Caller, Alphaday, Abrakadabra Game, Utilify |
| Marketplaces (Exchanges/ NFT) | Binance, OKX, BitGet, Paribu, BTCTurk, Bitexen, ChilizX, Rarible (marketplace), Coinone |
| Custody | BitGet Wallet, Magic Link, Onto Wallet, Coin98, Fireblocks, Cobo, Privy |
| DeFi | LENX, PepperSwap |
| Validators | Ankr, Paribu, Meria, Luganodes, InfStones |
Chiliz sees the new SportFi ecosystem as a potential game-changer in the sports industry, providing fans with greater control over their experience and introducing new avenues for engagement with their beloved teams and athletes.
The Emerging Chiliz Ecosystem
The expansive Chiliz Chain is quickly transforming itself as the central hub for leading sports brands in web3, inviting innovators to explore pioneering SportFi applications. Over 80 Fan Tokens from premier sports clubs such as FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, S.S.C Napoli, Inter Milan, AC Milan, Arsenal, Atlético Madrid, and A.S. Roma have already been launched on the Chiliz Chain through Socios.com. The Socios.com app has seen over 2 million users, and a total of 138 million Fan Tokens have already been sold.
These Fan Tokens, with a daily trading volume 400% higher than the global NFT market, are now tradable across multiple marketplaces including Binance, OKX, Bitget, Paribu, ChilizX, and others. The ecosystem encompasses a wide range of community apps (like Socios.com), custodial solutions (BitGet Wallet, Magic Link, Fireblocks, etc.), and upcoming DeFi lending and DEX solutions (Lenx, PepperSwap).
What sets the Chiliz ecosystem apart is its diverse offerings beyond Fan Tokens. It extends to metaverse-based sports experiences, immersive football, and football manager games, interactive community platforms driven by incentives and engagement, and social gaming products that enable fans to compete, collaborate, and socialize in new ways. Additionally, it caters to digital sports collectibles and their exchange avenues.
This multifaceted ecosystem not only introduces multiple new revenue streams for the sports industry but also signifies a transformative shift in how fans engage with sports, bringing them closer to their favorite teams in unprecedented ways. As the ecosystem expands, a network effect is expected to further reinforce its success.
Permissionless Building
Chiliz Chain has transitioned into a permissionless platform, enabling developers and companies to launch projects, smart contracts, and tokens without governance obstacles. This marks a significant stride in Chiliz’s goal to integrate blockchain technology into sports and entertainment, fostering the creation of fan-centric dApps while ensuring user and partner protection through mechanisms that guard against IP infringement, threats, and fraud.
Understanding “SportFi”
SportFi is the amalgamation of sports and decentralization, empowering fans, transforming sports into valuable assets, and fortifying brand-fan relationships through blockchain technology. This encompasses:
Sport + DeFi: Merging sports passion with web3’s decentralized finance (DeFi) to enrich interactions between fans and their beloved sports entities, opening avenues for partners to invest and engage with the community.
The commodification of Sports: Transitioning sports into valuable assets or a “CommodiFi” industry, enabling fans to transact and participate within fan communities without compromising the team’s governance or financial stability.
Sport Fidelity: Using blockchain to strengthen the relationship between sports brands and fans, reinforced by asset ownership – fans and ecosystem participants get to own their access and membership.
Chiliz Chain’s Role in SportFi
The Chiliz Chain forms the foundational infrastructure powering SportFi products, a Layer-1 EVM-compatible blockchain specifically tailored for the sports and entertainment sectors. It facilitates the creation and management of fungible digital assets like Fan Tokens for fan engagement and NFTs for ticketing and memorabilia.
In essence, the operational SportFi ecosystem by Chiliz Chain boasts over 25 key partnerships, offering tangible benefits to the sports industry, from fan tokens to novel forms of engagement. As the ecosystem expands, the anticipated network effect is set to enrich offerings and value for sports brands, fans, and developers. The collaborations integral to this success are appreciated, and there’s an eagerness for ongoing collaboration in exploring this innovative frontier in sports and technology.
Key Figures:
- Over 2 million users of the Socios.com app within the Chiliz chain, making it the largest non-finance/trading-centric web3 consumer-facing product globally by user base.
- Sale of 138 million Fan Tokens to sports fans in 160 different countries.
- Launch of 3,000+ Fan Polls, allowing fans to vote on kit designs, squad numbers, celebration songs, inspirational messages, and more.
- Redemption of 16,000+ Rewards, including exclusive experiences like acting as the team’s official announcer during a home game and playing a match at the team’s stadium alongside club legends.
- Over 3 million transactions were conducted on the Chiliz Chain.
- Generation of $437 million in revenues for the sports industry since 2018.
Founded in 2018, Chiliz is a blockchain startup company focused on the sports and entertainment sectors. The company specializes in developing scalable, secure blockchain solutions that elevate fan experiences through the use of digital assets.
