Chiliz made an important milestone last Friday, April 23. Through its key unit, Socios.com, the major blockchain financial technology company for entertainment and sports made the whole 2021 Professional Fighters League (PFL) match possible. This mixed martial arts (MMA) fight was between Brazil’s MMA professional Sheymon Moraes and British featherweight MMA fighter Brendan Loughnane.
The sports match concluded with Loughnane defeating Moraes. We are delighted for Chiliz in its important involvement in this recent PFL contest. We believe that it is, indeed, making history in the blockchain technology and cryptocurrency realm.
Based on the news posted online by Bitcoin and digital currency news outlet CoinDesk, Chiliz’s participation in the PFL fight involved Socios.com. This digital platform enabled sports fans to utilize fan tokens to express their support and participation in the MMA competition.
Through the Socios.com platform, these MMA and cryptocurrency enthusiasts were able to avail themselves of PFL-related tokens. These sports fans were also the ones who selected the matchup for Friday evening’s MMA fight.
Additionally, in the ESPN+ event, these mixed martial arts enthusiasts voted on who they desired to watch square off. The PFL fan tokens got sold out in less than 10 minutes worth US$500,000 during the first launch.
Katie Talati shared her thoughts about the latest status of Chiliz. Arca Funds’ chief of research cited that more of the likes of this consumer-facing application, which interact with consumers in their daily lives, is necessary today. The cryptocurrency-focused asset-management firm’s Talati also remarked that Chiliz provides the advantages of digital assets and tokenization in the blockchain to the wider community.
We felt thrilled with the MMA fans’ capability to utilize Chiliz and Socios.com in their sports interests. We believe that there will be more sports events like the spectacular April 23 MMA fight in the coming months. These sports matches will highlight the growing ascendancy and significance of cryptocurrency use in various industries.
Furthermore, we believe that success is inevitable for Chiliz, Socios.com, and the $CHZ token. These cryptocurrency entities are the breakthroughs in the fast-emerging blockchain technology. We also gathered that this year, $CHZ had increased twentyfold in digital-asset markets to a previously unimaginable US$2.3-billion market capitalization.
This increase compares with Bitcoin’s 70-percent year-to-date gain and a tripling action in Ethereum’s cost. Chiliz is, indeed, an ingenious cryptocurrency project. We think that there is nothing like it in the sports world attempting to utilize tokenization to incentivize supporters in a similar method.