MARCH 31ST: Chiliz has announced that ‘Scoville’, the public testnet for Chiliz Chain 2.0 (CC2), the first Layer-1 blockchain created especially for the sports and entertainment industries, is now live. CC2 enables sports and entertainment brands to mint NFTs and Fan Tokens, build DeFi products and Play2Earn games, and create event, loyalty and merchandising programs, helping them unlock the huge potential of Web3.
CC2 will be powered by the $CHZ token, marking a major evolution in the utility of $CHZ from the in-app currency of the Chiliz fan engagement platform, Socios.com, to the network enabler of Chiliz’s new, open, multi-vertical ecosystem.
The launch of the CC2 testnet is the most significant expansion of the Chiliz ecosystem since the company pioneered the widespread use of blockchain technology by elite sporting organisations with the launch of Socios.com in late 2019. Over 130 of the world’s leading sports organizations have embraced Socios.com’s vision to enhance global fan engagement through Fan Tokens — digital assets, pioneered by Chiliz, that allow holders to access voting rights, games, competitions and rewards linked to their favourite teams.
Developed in collaboration with Ankr, a leading provider of decentralized infrastructure, CC2 is
EVM compatible with gas fees up to 200x cheaper than ETH. CC2 also offers high TPS, enabling developers to interact with smart contracts with speed and efficiency.
CC2 adopts a PoSA (Proof-of-Stake Authority) model, estimated to be up to 2000x more energy efficient than Proof-of-Work, incentivising $CHZ holders to stake their tokens. Approved stakeholders, which can include existing Socios.com partners and other sports and entertainment brands, will also be able to become on-chain validators, enabling them to benefit from continued growth of the ecosystem and lead to increased decentralization.
CC2 is a secure network-effect driven community that is primed for growth and will expand as Chiliz adds more partners to the Socios.com roster and other enterprise and start-up level sports and entertainment brands build Web3 products, services and experiences on the blockchain. The existing Socios.com roster includes soccer giants Paris Saint-Germain, FC Barcelona, Juventus, AC Milan, Inter Milan, Napoli, Valencia, Atlético de Madrid, Manchester City and Arsenal, 50 teams from across the NBA, NHL and NFL, the UFC, F1 teams and leading esports teams.
Alexandre Dreyfus, CEO of Chiliz and Socios.com said: “Thanks to our existing network of 130+ partners and connections to the biggest exchanges in the world, CC2 is already a mainstream Layer-1 blockchain.
“It’s a secure, network effect driven development community where our existing partners and many more enterprise and start-up level brands from sports and entertainment can build a full suite of Web3 products and services.
“And, it’s all powered by $CHZ.
“In many ways this is the biggest step forward we’ve taken since we launched the Socios.com app in late 2019 and it’s a huge step forward for the $CHZ token as the network enabler of the new, mainstream, open, multi-vertical blockchain for sports and entertainment.”
Chiliz, the world’s leading blockchain provider for the sports and entertainment industries, employs nearly 300 staff and has regional offices in Madrid, London, Istanbul, Miami, Malta and Lyon. $CHZ is available on all of the world’s leading cryptocurrency exchanges. More details on the mainnet launch of CC2 will be revealed shortly, as will the identity of the first new brands from sports and entertainment to join Chiliz existing 130+ roster of partners and start building on the new L1 blockchain. Chiliz is also developing an accelerator programme — Chiliz Labs — to foster on-chain development on CC2 via exposure to $CHZ grants, technical and creative guidance and product support.