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Chiliz, a global company that deals with blockchain for sports and entertainment, has launched its incubator and accelerator program, Chiliz Labs, with the support of Jump Crypto. The $50 million program is aimed at investing in early-growth blockchain projects that build on the chiliz blockchain for sports and entertainment and the network ofsocio-com.
We are excited to announce the launch of our chiliz labs incubator & accelerator program!
Backed by @jump_ Chiliz Labs will foster viable and innovative early-stage blockchain projects looking to leverage the new Chiliz blockchain.
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— Chiliz ($CHZ) - Powering Socios.com ? (@Chiliz) March 1, 2023
According to the announcement, Chiliz has the goal of building the largest community of fans, brands and developers in the sport and entertainment industry to create an ecosystem dedicated to Web3 sport. These projects will benefit from the new chiliz blockchain for sport and entertainment, the genesis of which was validated in February. 8. The Incubator and Accelerator Program is committed to providing funding and strategic advice to help these projects meet their objectives.
Chiliz has announced to be the first enterprises to rely on the new chain, with another eight to ten projects to come. These projects will include non-target token ticketing (NFT) pilots, athlete-centred fan tokens and Web 3 infrastructure partners for sport and entertainment. Kanav Kariya, President of Jump Crypto, commended Chiliz for addressing the issue of brand expansion and maximizing fan engagement in a sustainable and affordable way.
Alexander Dreyfus, CEO of chiliz, stressed the importance of chiliz laboratories in the construction of an ecosystem of experiences and fan transactions, with fan chips delivering a "digital key" that can run on any product or experience built on its infrastructure. Chiliz is the creator of fan tokens and application socios.com commitment and fan rewards, with over 170 partners and over 1.8 million portfolios.
Related: Binance to bring fans closer to sports teams with fan token platform
At a time when blockchain technology is still revolutionizing industries around the world, it keeps finding interesting use cases in the world of sports with the emergence of Web3 platforms, provide new ways of mobilizing fans and creating value for sport brands.
As previously covered by Cointelegraph, Web3 projects aim to create engagement between fans and sports leagues. In its report "Perspectives for the Sport Industry in 2022", deloitte forecasts an acceleration in the mix of real and digital worlds, as well as market growth for NFT and immersive technologies.
The report indicates, This progress may lead to an increase in fan participation, which was the basis to guarantee the sponsors' income, selling tickets and goods, and the overall attractiveness of a long-standing sports league.
