Chiliz 2.0 Welcomes Solana Blockasset NFTs as CHZ Slides 10%

Injured Neymar is laying on the green football stadium grass while Chiliz coins fall in a red background.
  • Chiliz launched Layer-2 Chiliz 2.0 on February 8th, 2023, at 8:08 AM UTC.
  • The sports-focused blockchain also opened Chiliz Labs, a $50M incubator.
  • Athlete-signed Blockasset NFTs join the sports blockchain ecosystem.

The sports blockchain Chiliz (CHZ) continues expanding its ecosystem. Blockasset, the sports NFT collection signed by over 40 renowned athletes, enters the Chiliz blockchain after being available exclusively on Solana (SOL) since the collection’s launch.

Blockasset NFT collection is backed by creme de la creme athletes, including legendary British soccer player Wayne Rooney, UFC fighter Jorge Masvidal and the New Zealand rugby superstar Jonah Lomu. In celebration of the new partnership, Chiliz and Blockasset are holding a Twitter Spaces event today at 3 PM CET.

Besides, the NFT Blockasset NFT holders will be able to gain access to meet-and-greet events, exclusive merchandise, and signed sports memorabilia, both physical and digital. The sports NFT collection adopts a unique approach of verifying the content with the athletes rather than algorithmically randomizing NFTs.

CHZ Comes Up Short Despite Layer-2 Launch

The ‘Scoville’ testnet was deemed a success by the crypto community and contributed towards reaching an agreement with Jump Crypto, the venture capital company which partnered with Chiliz to create Chiliz Labs. Further on, Chiliz invested $50 million into the project and has already onboarded big names like Fanest and LiveLike to their upgraded blockchain.

At press time, the #77 ranked altcoin trades at $0.113542, according to CoinGecko. The sports fan token plunged 18% in the last 30 days, declining another 5% in the last 24 hours. Despite celebrating the sports blockchain’s 5th anniversary, Chiliz (CHZ) lost an eye-watering $300 million in its market cap since last month. At the time of publication, Chiliz has a global market capitalization of $605 million and is close to losing its position in the TOP 100 if the bearish trend persists.

On The Flipside

  • Chiliz 2.0 is running on ‘Scoville’ testnet, while the mainnet launch date is unclear yet. According to Chiliz CEO Alexandre Dreyfus, the mainnet should go live “in the coming weeks.”

Why You Should Care

Chiliz is a sports-focused blockchain that’s already powering soccer fan tokens for nearly 200 popular clubs around the globe. The Layer-2 solution for Chiliz aims to push the Web3 sports industry into the mainstream.

Learn more about trending Web3 projects:

Sweat Economy Chief Makes Bold Claim Amid Tesla Controversy

Cardano-based JPG Store Opens Early Access for No-Code NFT Tool

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.