Current Chiliz (CHZ) price surge attributed to the launch of live in-game NFTs and rapidly growing ecosystem
Chiliz (CHZ) is the blockchain network behind the Socios.com fan engagement platform, which is focused on the world of sports by helping fans interact with their favorite teams and players.
Data shows that between September 29th and October 31st the price of CHZ spiked 171% with recent developments including the launch of live-in game NFTs pushing the price back towards the swing high.
Live in-game NFTs
Chiliz’s first live in-game NFTs were airdropped for a match between A.C Milan and A.S. Roma that was played on October 29.
The live in-game NFTs are minted as the game proceeds and they are based on key moments in the live matches as they happen and they are dropped in the wallet of the fans that correctly predict the outcome of the game.
The announcement of this new method of distributing NFTs has gathered a lot of traction among fans and the demand for the tokens has continued to rise over the weeks after the live-in game NFTs were launched.
Listing of the in-game NFT tokens builds momentum for CHZ token
The minted in-game NFTs by Chiliz are being listed by Binance resulting in a build-up of CHZ token momentum.
Examples of fan tokens minted on Chiliz and listed on Binance include the ManCity Fan token ($CITY).
Introducing Manchester City @ManCity Fan Token $CITY on Binance Launchpool! Farm $CITY by Staking #BNB, $CHZ and $BUSD Tokens
➡️ https://t.co/LvGgKeympQ pic.twitter.com/4V5OP63GFS
— Binance (@binance) November 10, 2021
Fans can earn fan tokens like $CITY listed on Binance by staking BNB, CHZ, and BUSD tokens.
Other exchanges like OKEx have also shown interest in listing the Chiliz minted fan tokens and it could be a matter of time before it starts listing the tokens.
Besides the in-game NFTs (fan tokens), the Chiliz ecosystem has also seen a rapid expansion in the last few months through partnerships with several sports and entertainment companies.
The most recent partnership is the partnership with Kraft Sports and Entertainment that will enable the New England Patriots of the National Football League (NFL) and the New England Revolution of the Major League Soccer to join the Chiliz and Socios ecosystem.