Chiliz Unveils $50 Million Incubator Backed by Jump Crypto

On Wednesday, March 1, global blockchain leader for Web3 sports and entertainment Chiliz announced the launch of its $50 million USD incubator along with an accelerator program Chiliz Labs.

Incubator from Chiliz

As we know, Chiliz is building the largest community of fans, brands and innovative developers for the sports and entertainment industry. It seeks to build a dedicated sports Web3 ecosystem and deliver network benefits.

With this vision forward, Chiliz Labs is committed to building an entire ecosystem for developers and entrepreneurs. It also seeks to create long-lasting utility-driven projects. Chiliz said they will soon announce their first partners. Jump Crypto leads the latest funding round.

Chiliz Labs stated that it would promote innovative early-stage blockchain projects willing to leverage the Chiliz blockchain for sports and entertainment. Speaking about the development, Kanav Kariya, president of Jump Crypto, said:

“Chiliz has developed a unique solution to one of the most prominent problems facing sports teams and leagues, which is how to sustainably and affordably scale their brands and maximize fan engagement globally. Chiliz is changing the way we think about what it means to be a fan a sports team and we are extremely excited to support Chiliz Labs to leverage Web3 technology to bring teams and their fans closer together.We will continue to work closely with Chiliz to bring our blockchain and crypto expertise to the sports and entertainment industry , and help deliver community events like hackathons.”

Increasing adoption of Chiliz Blockchain

LiveLike and FanFest are the two companies that recently announced to build their own chains on the Chiliz platform. Chiliz stated that they will soon announce another 8-10 enterprise-level projects moving forward. This includes NFT ticket pilots, Web3 infrastructure partners, and third-party athlete-focused Fan tokens.

Alexandre Dreyfus, CEO of Chiliz said they are leveraging blockchain technology to build communities for sports teams so they can have a direct relationship and value exchange with their fans. Their central vision is to attract more developers to choose the Chiliz blockchain and build innovative projects.

As said, Chiliz seeks to provide an ecosystem of fan experiences where Fan Tokens provide a “digital key” that will work for different products and experiences built on the platform. The Chiliz boss added:

“Chiliz Labs is a key 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 bringing some of the most promising, viable and innovative projects in the blockchain space welcome. Chiliz chain.”

Chiliz is the creator behind Fan Tokens and Socios.com, a fan engagement and rewards app. Fan tokens act as scalable utility tokens that are fungible and allowable. It also allows sports teams to reach out and reward their global fan base.

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