Chiliz Sports Blockchain Launch is a project that aims to bring sports and blockchain technology together. Expected to launch on May 10th, the project will organize an accelerator program worth $50 million, supporting early-stage companies.

What is Chiliz Sports?

Chiliz, the parent company of popular fan token company Socios, aims to launch a new program on May 10 that aims to intersect sports and blockchain technology. The USD 50 million project will support early-stage companies.

“Chiliz Labs” is powered by Jump Crypto, which specializes in Web 3.0 infrastructure and development, and will focus on enterprises that want to leverage the Chiliz blockchain to offer their services to consumers.

As part of the program, associates will be offered funding, resources and guidance to develop and commercialize their innovations, including access to Socios’ network of partner clubs and organizations.

How Does Chiliz Chain Work?

Chiliz Chain’s ultimate ambition is to become a private blockchain for the sports industry, backed by a token that can be used in multiple applications, contributing to its benefit and cost.

Alexandre Dreyfus, CEO of Chiliz, said: “At Chiliz, we use blockchain technology to create communities where sports teams can engage directly with their fans and exchange values.

Having developers choose Chiliz Chain to build their new innovative projects is at the core of our vision, allowing us to create an ecosystem of fan experiences and processes where fan tokens provide a ‘digital key’ that can work on any arbitrary artifact or experience built on our infrastructure.

Chiliz Labs is a pillar of this strategy and with the help of our partners at Jump Crypto, whom we thank for supporting our vision, we look forward to welcoming some of the most promising, viable and innovative projects in the blockchain space.”