CHZ token climbs 15% as Chiliz Chain 2.0 mainnet launches

The operator of the Socios platform, Chiliz, launched the Chiliz Chain 2.0 (CC2) mainnet. On February 8, the genesis block was mined in the EVM-compatible Layer-1 blockchain.

CC2 testnet launch took place in March 2022. The network was built in collaboration with the infrastructure project Ankr.

“Using the Chiliz blockchain, developers, sports and entertainment brands can issue NFTs and fan tokens, create DeFi products and P2E-games, engage with users at stadiums, enable ticket sales and payments via Web3,” according to the press release.

CC2 is a system of 11 active validators using a Proof-of-Stake Authority consensus algorithm. The network uses the native CHZ token, significantly speeding up and reducing the cost of transactions, according to the statement.

Coinciding with the CC2 launch, the company marks its fifth anniversary. In Chiliz they marked the occasion with a series of events, including the release of a limited edition NFT Anniversary series of 100 tokens.

Chiliz’s new sports ambassador is Napoli defender Kim Min-jae — a star of South Korea’s national football team. According to founder Alexander Dreyfus, the new network launches with a special focus on South Korea’s Web3 industry.

Chiliz aims to announce eight to ten enterprise-level projects in the coming months. The company also plans to host an industry event in Seoul.

In the last 24 hours, the CHZ token price rose 14.5% (CoinGecko). However, the asset trades roughly 80% below its March 2021 high.

Chiliz partners with more than 170 major sports organisations. Among them are FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, Napoli, «Milan», «Inter», Arsenal, Atlético Madrid, Roma, UFC, F1 teams and others. The company employs around 300 people worldwide.

In June 2021, Chiliz became a partner of the Portugal national football team for issuing fan tokens.