Animoca Brands, a notable player in the gaming and blockchain sector, has recently joined the Chiliz blockchain network as a validator, marking a significant step in the evolution of Chiliz Chain’s governance structure.
Known for its contributions to blockchain innovation within gaming and digital entertainment, Animoca Brands’ integration into the Chiliz Chain network is a move towards diversifying its involvement in the sports sector.
Animoca Joins Chiliz Validator Ranks
The company’s role as a node validator is expected to influence the Chiliz SportFi ecosystem. Animoca will certainly leverage its experience in NFTs and gaming in this venture.
Animoca Brands’ co-founder, Yat Siu, commented on the collaboration, stating,
“Becoming a participant in the Chiliz Chain is an opportunity to meld our expertise in NFTs and gaming with the robust sports and entertainment Chiliz ecosystem.”
Chiliz Chain itself has been a platform catering to web3-ready projects, primarily focusing on engaging sports fans through blockchain technology.
Read more: What Is Chiliz (CHZ)? How Does This Crypto Elevate Fan Engagement?
Overall, it has facilitated the creation of over 80 Fan Tokens associated with major sports clubs. This has been central to its role in the sports industry.
Chiliz CEO Alexandre Dreyfus pointed out the importance of this development, saying,
“Bringing Animoca Brands onboard as a validator… is an acceleration in our journey to become the de facto blockchain for sports and Web3 convergence.”
Animoca Brands Holds Onto Metaverse Dreams
In a related development, Animoca Brands recently secured a $20 million investment for its ‘Mocaverse’ project. This reinforces its commitment to the metaverse sector.
However, this funding comes amid varying attitudes within the industry towards the metaverse concept. Some companies continue investing heavily, while others, like Disney, have shown skepticism.
The partnership between Chiliz and Animoca Brands signifies a growing trend of collaboration between blockchain technology and the sports sector. It underscores a shift in the digital sector where SportFi, GameFi, and DeFi intersect. It also potentially opens up new avenues for fan engagement and innovation in the sports industry.
This alliance highlights the expanding role of blockchain in sports and entertainment. It also reflects the diverse applications and ongoing evolution of blockchain technology in various sectors.
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