Chiliz gains 170% after launching live in-game NFTs for fan token holders
Thanks to the opening of live streaming in the NFT game and the actively spreading ecosystem, the value of CHZ has increased significantly and the strength of the basic parameters of the project has been confirmed. Over the past year, there have been a number of high-profile events in which the cryptocurrency business has collaborated with leading sports leagues, national teams and specific players. Players engage their admirers in the game by putting NFL caps and other bonuses tied to cryptocurrency and blockchain technology. Cryptocurrency companies are making a name for themselves by putting their names on jerseys, purchasing naming rights to stadiums, and paying for intelligently chosen commercials in prime time between halftime matches.
Recently, investor interest in this project has surged, thanks to its focus on sports and fan interaction with teams and players — it is Chiliz (CHZ), the blockchain-based platform Socios.com for fan support. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.243 as of Sept. 29, CHZ rose 171% to a high of $0.657 as of Oct. 31, and fresh changes forced the price back to a high. Among the three reasons for CHZ’s rise are the opening of live intra-match NFT, latest stock exchange product listings for CHZ, as well as recent fan tokens and an actively populating ecosystem of affiliate protocols.
The launch of the action was marked by the first live broadcast of NFT on the platform, coming from the game between AC Milan and AS Roma. According to the platform’s operating principle, new NFTs are created during the game based on the analysis of important points of matches, and after that they are sent to the wallet of token owners who correctly guessed the course of the game. Following the announcement of this NFT selling technology, interest in the token surged, and demand for it kept rising in the subsequent weeks.
The reason for CHZ’s popularity is the inclusion of additional exchange lists, as well as the recent emergence of fan tokens from favorite clubs such as Sao Paulo, AC Milan and Manchester City. In addition to lists, some platforms also offer fans the chance to win tokens of their favourite teams. And some have even announced their intention to chip away at the ecosystem’s reserve tokens.
The ecosystem rollout is another recent development that is helping to strengthen CHZ’s core metrics. The company announced a partnership with Kraft Sports and Entertainment that will bring the National Football League’s (NFL) New England Patriots and the New England Major League Soccer (MLS) Revolution to the Chilies and Socios ecosystem. This collaboration marks the beginning of Chilies’ first experience in the NFL and MLS and points out that the protocol plans to reach out to all major league sports whose fans are eager to become more involved. VORTECS™ information from Cointelegraph Markets Pro reported setting an optimistic outlook for CHZ on Oct. 28, before the recent price increase. VORTECS™ analysis, used exclusively by Cointelegraph, consists of an algorithmic comparison of past and current market performance determined by a combination of various data, including market conditions, trading volume, recent price changes and Twitter user activity.
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