Animoca Brands sets its sights on the SportFi ecosystem, taking on the role of a Chiliz Chain validator. This move is driven by the venture capital firm’s strategic interest in leveraging the potential of the SportFi ecosystem.
Venture capital heavyweight, Animoca Brands, is poised to become a validator within the Chiliz Chain, contributing to its proof-of-stake authority protocol.
Chiliz Chain serves as the foundation for Socios.com, a platform facilitating an array of fan tokens for prominent global football and sports teams. This cutting-edge platform has attracted Europe’s beloved football clubs and various well-known sports brands. They are utilizing it to power Web3 fan tokens and other blockchain-based offerings.
Yat Siu, co-founder of Animoca Brands, sees partnership as chance to combine NFT and gaming expertise with Chiliz’s sports and entertainment blockchain focus.
Siu expresses;
“We’ve witnessed the ascent of DeFi and GameFi, and we envision SportFi as the next frontier, reshaping fan engagement and introducing new financial dynamics to the sports industry.”
Animoca Brands’ Validator Role Strengthens SportFi Ecosystem in Chiliz Chain
Chiliz CEO Alexandre Dreyfus emphasizes the significance of Animoca joining as a network validator—a pivotal moment for the company. This highlights Chiliz’s commitment to being a key blockchain solution, specifically driving Web3 in sports.
Joining the ranks of Ankr, Paribu, Meria, Luganoes, and InfStones, Animoca Brands now stands as the latest validator for the Chiliz Chain.
Modeled after proof-of-stake blockchain protocols such as Ethereum, the structure involves validators. These validators are pivotal in authorizing and facilitating the creation of fan tokens, NFTs, and decentralized applications. Simultaneously, they play a vital role in validating transactions and executing smart contracts.
Animoca has strategically diversified its investments across the expansive Web3 landscape, with a particular emphasis on the sports sector. Noteworthy Web3 sports products in their portfolio include One Fight Arena, AFL Mint, and REVV Motorsport. The latter encompasses titles such as MotoGP Ignition, MotoGP Guru, Formula E: High Voltage, REVV Racing, and Torque Drift.
Animoca Brands Acquires Eden Games for $15.3M, Chiliz Shifts to Layer-1 Blockchain for Growth
In a headline-grabbing move in April 2022, Animoca Brands acquired French racing game developer Eden Games for a substantial $15.3 million. This acquisition aimed to boost REVV Motorsport with racing game expertise and introduce tailored blockchain games for the genre.
Chiliz, in its quest for growth, launched its own layer-1 Ethereum Virtual Machine-compatible blockchain ecosystem in February 2023. This marked a strategic transition from its Ethereum-based ERC-20 token system to an independent blockchain solution.
The blockchain’s initial implementation involved an innovative system of 11 active validators, employing proof-of-stake authority consensus. This approach is heralded for delivering faster block times, reduced fees, and minimal energy consumption.