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    CHZ up 3.51% as Chiliz launches new sports memorabilia authentication service

    By Darius McQuaid

    Edited by Charlie Mellor

    13:19, 15 December 2022

    Alexandre Dreyfus, CEO, Chiliz & Socios.com, speaking at Web Summit 2022 in Lisbon, Portugal
    Chiliz CEO Alexandre Dreyfus has said he is very excited to unveil GameUsed.com, a decentralised database to certify sports collectibles – Photo: Getty Images

    Chiliz, the global blockchain provider for the sports industry, has seen its native chiliz (CHZ) token increase following the release of its end-to-end memorabilia authentication service.

    GameUsed.com will verify genuine items, such as game-worn shirts, match tickets and trading cards, so that sports organisations can know such items are authentic.

    As of 09:36am GMT on 15 December, CHZ was trading at $0.1447, up by 3.51% compared with the previous day, according to CoinMarketCap.  

    Alexandre Dreyfus, CEO of Chiliz and the engagement and reward app Socios.com, announced the move on Twitter.

    According to the article, all items will be authenticated by embedded near field communication (NFC) chips, which will allow fans and collectors to quickly verify the authenticity of collectibles using a smartphone.

    CHZ to USD 

    The use of NFTs

    Once an item has had an NFC chip embedded, GameUsed.com will issue a corresponding non-fungible token (NFT) minted on the Chiliz blockchain.

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    GameUsed.com will be available to more than 170 Socios.com partners, with the aim that it will “become a decentralised database to certify the authenticity of sports collectibles”.

    The NFTs will have “customisable digital content related to the item”, such as sports highlights or creative content, and include a direct link to the corresponding proof-of-reserve for each item.

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    Blockchain technology and engagement for fans

    Dreyfus said: “We are extremely excited about the launch of GameUsed.com by Chiliz.

    “At Chiliz we are building one of the leading ecosystems for sports and entertainment, bringing together fans, sport teams, and sports commerce and service companies. Central to our strategy is to continue to launch services and technology that onboard traditional sports experiences and fan activities into the Web 3.0 environment.

    “We believe that blockchain technology can bring new ways for sports teams and companies to deliver ownership and engagement to fans, and by bringing blockchain authentication and distribution to sports memorabilia through GameUsed.com, we are taking another important step forward in our offering.”

    Company enjoyed substantial growth in 2022

    In 2022, Chiliz increased the number of staff that worked for the company by more than 70% and it now has more than 300 employees and nine offices worldwide.

    The company aims to continue to grow in 2023 and is working on the launch of the Chiliz Chain 2.0 (CC2) mainnet, which it believes will be the first blockchain that specialises in the sports and entertainment industry.

    Markets in this article

    CHZ/USD
    Chiliz / USD
    0.06343 USD
    -0.00081 -1.290%

    Related topics

    #Cryptocurrency

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