• Chiliz launched an incubator and accelerator program for early-stage blockchain projects calledChiliz Labs, backed by Jump Crypto.
• Chiliz 2.0 is transitioning to mainnet, while the team is preparing to roll out a pilot system for NFT tickets.
• The native token CHZ has failed to reclaim the $0.15 support line since its fifth anniversary celebration.
Chiliz Launches Incubator and Accelerator Program
Chiliz (CHZ), the leading sports blockchain, launched Chiliz Labs, an incubator for early-stage products with a $50M USD investment from crypto investment fund Jump Crypto. The incubator will provide developers with a stipend if they are building on the new Chiliz 2.0 blockchain which is in ‚Scoville‘ testnet mode and set to launch this year.
NFT Ticket Pilots to Games Coming Soon
The upgraded Chiliz Layer-1 EVM-compatible blockchain minted its first block on February 8th, 2023 and celebrated its fifth anniversary with exclusive NFTs – Chiliz Anniversary Pepper Collection. The team behind the sports blockchain is now focused on bringing the technology into physical world and rolling out a pilot system for non-fungible tickets (NFT) as well as investing in FC Barcelona’s Web3 ventures with a $100 million funding.
CHZ Native Token Fails To Reclaim Support Line
Despite all of these developments, CHZ native token failed to reclaim its key resistance line of $0.15 after two days of trading at that level on February 8–9th, 2023 only to drop back down again afterwards. At press time, according to CoinGecko data CHZ trades at $0.126757 per token and has lost a significant amount of market capitalization since it’s fifth anniversary celebrations began last month.
WOLF ALPHA Analysis
Crypto analyst WOLF ALPHA suggested that although CHZ was barely mentioned these days it could do well in March due to upcoming L1 WEB3 Sports Blockchain launch planned for later this month as well as its new incubator program which could help foster viable projects built on top of the new version of their blockchain protocol.
Conclusion
The sports fan token powering CHZ is taking some big steps towards becoming one of the major players in DeFi space by launching innovative product such as NFT tickets or partnering up with major teams like FC Barcelona but unfortunately isn’t getting much love from market participants yet so investors need to be patient before seeing any meaningful returns from their holdings in CHZ tokens