Animoca Brands Joins Chiliz Blockchain Network, Elevating Web3 Sports Engagement November 14, 2023 November 14, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsNovember 14, 2023 by Kelly Cromley

Animoca Brands Joins Chiliz Blockchain Network, Elevating Web3 Sports Engagement

In a notable development within the gaming and blockchain sector, Animoca Brands has recently become a validator on the Chiliz blockchain network. This strategic move signifies a significant progression in the governance structure of the Chiliz Chain, further diversifying Animoca Brands’ involvement in the sports sector.


Diversifying Engagement in Sports:

Animoca Brands, renowned for its pioneering contributions to blockchain innovation in gaming and digital entertainment, has extended its influence by integrating into the Chiliz Chain network. This move is a deliberate step towards broadening its footprint in the sports domain. As a node validator, Animoca Brands is expected to play a crucial role in shaping the Chiliz SportFi ecosystem, leveraging its extensive experience in NFTs and gaming.


Co-founder’s Perspective on Collaboration:

Yat Siu, co-founder of Animoca Brands, highlighted the significance of this collaboration, emphasizing that becoming a participant in the Chiliz Chain is an opportunity to merge their NFT and gaming expertise with Chiliz’s robust sports and entertainment ecosystem.


Chiliz Chain’s Focus on Web3-Ready Sports Projects:

Chiliz Chain has established itself as a platform dedicated to web3-ready projects, with a primary focus on engaging sports fans through blockchain technology. The platform has successfully facilitated the creation of over 80 Fan Tokens associated with major sports clubs, playing a fundamental role in reshaping the sports industry.


CEO’s Perspective on Accelerated Journey:

Alexandre Dreyfus, CEO of Chiliz, underscored the importance of Animoca Brands joining as a validator, describing it as an acceleration in their journey to becoming the definitive blockchain for sports and Web3 convergence. This collaboration exemplifies the commitment to advancing the intersection of blockchain technology and sports engagement.


Investment in ‘Mocaverse’ Project Reinforces Commitment:

In a related development, Animoca Brands secured a substantial $20 million investment for its ‘Mocaverse’ project, reinforcing its dedication to the metaverse sector. This funding reaffirms the company’s position as a key player in the evolving landscape of digital experiences.


Industry Perspectives on the Metaverse Concept:

The secured investment comes at a time when attitudes within the industry toward the metaverse concept vary. While some companies continue to invest heavily, there is a degree of skepticism from entities such as Disney. The diverse perspectives within the industry underscore the ongoing discussions and considerations surrounding the metaverse.


Sports and Blockchain Collaboration Trend:

The partnership between Chiliz and Animoca Brands signifies a broader trend of collaboration between blockchain technology and the sports sector. This collaboration not only reflects the evolving landscape where SportFi, GameFi, and DeFi intersect but also opens new avenues for fan engagement and innovation within the sports industry.


Blockchain’s Growing Role in Sports and Entertainment:

The alliance between Chiliz and Animoca Brands underscores the expanding role of blockchain technology in the realms of sports and entertainment. It serves as a testament to the diverse applications and the continuous evolution of blockchain technology across various sectors, indicating its transformative impact on the way industries operate.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.