Chiliz, a leading blockchain provider for the sports and entertainment industry has announced today the successful integration of Rarible Protocol into their Chiliz Chain. This collaboration aims to simplify the creation of SportFi applications utilizing non-fungible tokens (NFTs) for developers.
According to Chiliz, the integration empowers developers with Rarible Protocol’s “out-of-the-box” toolkit which allows for streamlined construction of SportFi dApps (decentralized applications) specifically designed for the Chiliz Chain. This paves the way for broader adoption of NFT technology within the sports and entertainment realm, potentially fostering deeper engagement between fans and their favorite teams or brands.
The news of the Chiliz Chain integration comes amidst a broader effort by Rarible Protocol to expand its reach across various blockchain ecosystems. As highlighted in their official blog post, the company recently integrated with Lightlink, RARI Chain and zkSync in the first quarter of 2024.
The price of Chiliz (CHZ) has reached its highest point in ten months, currently trading at $0.137 USD. This surge coincides with this recent announcement of Rarible Protocol integrating Chiliz Chain in Q1 and enabling developers to build sports-focused NFT dApps on the Chiliz network.
The price of Chiliz (CHZ) remained relatively stable over the past 24 hours according to a recent price chart. With a decrease of 1.07%, there were minor fluctuations in the overall price.
These efforts demonstrate Rarible Protocol’s commitment to providing developers with diverse options and tools for building NFT dApps. Each integrated chain offers unique features and benefits, catering to various development needs and user preferences.
The combined efforts of Chiliz and Rarible Protocol hold the potential to accelerate the growth and accessibility of the web3 space particularly within the sports and entertainment industry. By simplifying development processes and offering a wider range of options they create an environment conducive to innovation and broader adoption of NFT technology.
The recent development builds on Chiliz’s past partnership with Rarible which had enabled developers to use the Rarible Protocol to create custom NFT marketplaces on the Chain. Recently, Chiliz announced that it is onboarding sports clubs as node validators on the blockchain. With this, Paris Saint-Germain had become the first club to join this initiative and has pledged to use 100% of its earned rewards for regular buybacks of its $PSG Fan Token.
