Together, Chiliz and Socios.com are revolutionizing fan engagement in sports by combining blockchain technology with unique, interactive experiences. In this article, we’ll break down how these platforms complement each other, their individual roles, and how they are shaping the future of sports and entertainment.
If you’re unfamiliar with the concepts of Chiliz or Socios.com, don’t worry, check out our articles “What is Chiliz?” and “What is Socios.com?” for a comprehensive overview. Additionally, check out the “Fan Token” article to better understand the digital assets at the heart of their ecosystem. Once you’re up to speed, let´s dive into this comparison to understand how they work together and their roles within the same ecosystem.
Socios.com and Chiliz Blockchain
Chiliz and Socios.com are completely connected. Chiliz is the blockchain platform that powers everything, while Socios.com is the main app built on it. Chiliz Chain is the top blockchain in sports, used by more than 70 elite sports teams worldwide Chiliz, such as FC Barcelona, Paris Saint-Germain and more.
Socios.com utilizes this infrastructure to offer Fan Tokens, official digital assets for the world’s best sports teams, enabling fans to engage, experience and impact sports like never before.
The Chiliz ecosystem is built upon the Chiliz Chain, a Layer-1 blockchain dedicated to sports, which includes Fan Tokens, Socios.com and SportFi applications.
This integration allows Socios.com to leverage the security and efficiency of the Chiliz Chain, providing users with a seamless experience in purchasing, trading and utilizing Fan Tokens.
Utilization of Blockchain Technology
Blockchain technology is the foundation of both Socios.com and Chiliz, providing transparency, security and decentralization. Fan tokens are created as fungible digital assets on the blockchain, ensuring they are tamper-proof and easily traded on platforms like the Chiliz Exchange.
Chiliz utilizes the Ethereum-based ERC-20 token standard for CHZ and a sidechain solution for fan tokens. This technology allows for faster transactions and lower fees, ensuring a seamless experience for users. Blockchain’s role extends beyond fan tokens, it also provides the foundation for digital voting and secure user data management, building trust among fans and organizations alike.
The advances of Socios.com and Chiliz
As more people start using blockchain, the future looks bright for Socios.com and Chiliz. By focusing on technology and putting fans first, these platforms are set to grow their impact in sports, gaming and entertainment.
Chiliz Chain Developments
In May 2024, Chiliz implemented the “Dragon 8 (Tokenomics 2.0)” proposal, introducing a dynamic economic model for the Chiliz Chain. This model features a decreasing yearly inflation rate and a perpetual burn mechanism, aiming to incentivize validators and delegators, bolster network security and maintain token scarcity. These changes are designed to ensure the long-term sustainability and competitiveness of the Chiliz ecosystem.
Strategic Partnerships and Integrations
Chiliz has formed strategic partnerships to expand its ecosystem. Notably, the integration with NAVER Pay in August 2024 aims to introduce a digital assets wallet to NAVER Pay’s 33 million users, facilitating the adoption of blockchain technology in South Korea. Additionally, collaborations with entities like Mercado Bitcoin and Fan Rating are set to enhance fan engagement through blockchain-powered rewards and exclusive features.
Enhanced Fan Engagement
Socios.com is planning to introduce features that reward users with points for voting and interacting within the app. Accumulating points will allow fans to progress through different membership levels, offering a more personalized and engaging experience.
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