Chiliz (CHZ) previously announced on Twitter that a new development was coming, pointing to March 31. Chiliz even set up a counter, adapting his website accordingly. The date has arrived and explanations have been made. Chiliz plans to breathe new life into the crypto world with its new Scoville blockchain.
The New Scoville Blockchain
CHZ, the local Socios fan token, already allows fans to express their opinions when making important decisions for their team. CHZ owners vote for their team’s T-shirt colors, team anthems and many other decisions. With this blockchain update, Chiliz plans to launch a selected, scalable and semi-centralized blockchain application for startups and corporate sports organizations.
Scoville aims to lay the foundation for a secure web3 ecosystem protocol based on the network effect in the world of sports and entertainment. With this update, CHZ aims to provide investors with direct access to global brands and create their own projects taking into account the existing fan token base.
Benefits for fans and investors
In this way, fans and investors can use this user-oriented platform, which can be adapted for optimal scalability. The CHZ website also states that support was received from ANKR for this upgrade of the blockchain infrastructure. With the update, investors can also cooperate with companies from the white list. These companies, both centralized and decentralized, will also offer investors the freedom to create products and platforms. In other words, thanks to this development, fans and investors not only receive fan tokens and vote for their team, but also have an environment in which they can manage their own projects.
All over the world, this sport is already being promoted with a large market share. With this move, Chiliz wants fans to be able to capitalize on this trend and experience the integration of digital asset exchange with CHZ. This will not only strengthen the relationship between sports and cryptography, but also increase the adoption of cryptography in the industry. However, the most important event at this stage is to provide investors with the opportunity to produce products in this market and expand cooperation.