Venture Capital Firm Animoca Brands Partners with Chiliz Chain
Animoca Brands, a venture capital firm, has announced its support for the fan token blockchain Chiliz Chain by joining the network as a validator in its proof-of-stake authority protocol. Chiliz Chain serves as the foundation of Socios.com, a platform that hosts fan tokens for various global football and sports teams. These include some of Europeโs most popular football clubs and several well-known sports brands, which utilize the platform to power Web3 fan tokens and other blockchain-based offerings.
According to Yat Siu, co-founder of Animoca Brands, this partnership allows his firm to combine its expertise in nonfungible tokens (NFTs) and gaming with Chilizโs focus on sports and entertainment-oriented blockchain solutions. He believes that SportFi will redefine fan engagement and create new financial dynamics in the sports industry, following the rise of DeFi and GameFi.
Chiliz CEO Alexandre Dreyfus views Animocaโs addition as a network validator as a significant milestone for the firm’s mission to establish itself as a major blockchain solution focused on catalyzing Web3 functionality and transforming the sports industry.
Hot Take: The Future of Fan Engagement in Sports
The collaboration between Animoca Brands and Chiliz Chain signifies a strategic partnership that aims to revolutionize fan engagement in the sports industry by leveraging blockchain technology. This move reflects the growing trend of integrating digital assets and decentralized finance into traditional sectors such as sports, paving the way for new opportunities in fan interaction and financial innovation.
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