Animoca explores opportunities within the SportFi ecosystem and assumes the role of a validator on the Chiliz Chain.
Animoca Brands is set to become a validator on the Chiliz Chain, aiming to leverage opportunities within the SportFi ecosystem.
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Venture capital firm Animoca Brands is poised to join the Chiliz Chain as a validator, participating in its proof-of-stake authority protocol. Chiliz Chain, which serves as the backbone of Socios.com, facilitates fan tokens for global sports teams, enabling Web3 fan tokens and other blockchain-based offerings. This collaboration allows Animoca Brands to merge its expertise in nonfungible tokens (NFTs) and gaming with Chiliz's focus on sports and entertainment blockchain solutions. Yat Siu, co-founder of Animoca Brands, sees the partnership as an opportunity to tap into the burgeoning SportsFi sector, redefining fan engagement and financial dynamics in the sports industry. Chiliz CEO Alexandre Dreyfus views Animoca's role as a validator as a pivotal moment, solidifying Chiliz Chain's position as a significant blockchain solution for Web3 functionality in the sports sector. Animoca Brands joins other validators on Chiliz Chain, contributing to the authorization of fan tokens, NFTs, decentralized applications, transaction verification, and smart contract execution. The move reflects a strategic alignment with the growing SportsFi sector, expected to redefine fan engagement and financial dynamics in the sports industry. Chiliz CEO Alexandre Dreyfus considers Animoca's addition as a pivotal moment, reinforcing Chiliz Chain's role as a significant blockchain solution for Web3 functionality in the sports industry. Animoca Brands joins other validators on the Chiliz Chain, such as Ankr, Paribu, Meria, Luganoes, and InfStones, contributing to the authorization of fan tokens, NFTs, decentralized applications, transaction verification, and smart contract execution. Animoca Brands, known for its diverse Web3 investments, has a focus on the sports sector, evident in products like One Fight Arena, AFL Mint, and REVV Motorsport. Chiliz Chain, having launched its own layer-1 Ethereum Virtual Machine-compatible blockchain ecosystem in February 2023, moved away from its Ethereum-based ERC-20 token system to a more independent blockchain solution. The blockchain incorporates 11 active validators utilizing a proof-of-stake authority consensus, emphasizing faster block times, lower fees, and energy efficiency.
