2023 is the year we celebrated our fifth anniversary. But it’s been a landmark year for Chiliz beyond this: with the launch of the Chiliz Chain, we’ve not only opened up a new world for SportFi applications but also expanded our ecosystem with critical partnerships and investments. 2023 was a year of adjustment as many crypto projects floundered under challenging market conditions. Despite this, Chiliz has gone from strength to strength as we continue to grow. Read our key milestones and our thoughts on the year ahead below.
Key milestones:
The launch of Chiliz Chain: A turning point in SportFi
- Genesis block and ecosystem development: Our journey in 2023 commenced with the validation of the genesis block of the Layer-1 Chiliz Chain on February 8th. This event marked the birth of a platform that has become a cornerstone for developers looking to create SportFi applications, complementing our already successful Socios.com app.
- Rebranding and logo symbolism: Coinciding with our 5th anniversary, the rebranding and introduction of a new logo signified our commitment to bringing a fresh perspective.
- Technological capabilities: The Chiliz Chain brought (and is bringing) an array of possibilities, including NFT minting, Fan Tokens, DeFi products, innovative games, and web3 ready ticketing, changing the way sports and entertainment brands engage with their audience.
Chiliz Labs and strategic partnerships: Fueling growth
- Chiliz Labs inception: The launch of the $50M Chiliz Labs incubator and accelerator program in March 2023 was a strategic step towards nurturing early-stage blockchain projects in sports, enhancing our support for innovative projects that align with our SportFi vision.
- MatchWornShirt investment: Our investment in MatchWornShirt, acquiring a 20% stake, was a testament to our commitment to bring blockchain technology to sports memorabilia, enhancing the authenticity and fan engagement aspects of sports collectibles.
- Collaboration with node validators: Chiliz Chain bolstered its blockchain network by integrating renowned node validators like Animoca Brands, enhancing transaction integrity and efficiency under the sustainable Proof of Staked Authority (PoSA) model. In addition, our partnership with ANKR as our main RPC provider ensures reliable and efficient connectivity for the Chiliz Chain.
SportFi ecosystem: Pioneering a new era
- Ecosystem expansion: 2023 saw us unveil over 25+ key partnerships, reflecting our dedication to creating an expansive and diverse SportFi ecosystem. This included integrating Fan Tokens, developing community apps, and expanding into marketplaces and DeFi solutions. Projects such as Blockasset, FanFest, LiveLike, Football at AlphaVerse, TopGoal Footballcraft, Lillius, amongst many others, are leading the charge to create new experiences.
- One Shirt Pledge: This one is important to us. Our collaboration with Common Goal marks a new chapter in using blockchain for philanthropy, highlighted by the One Shirt Pledge initiative. In this project, athletes donated match-worn shirts, authenticated on the Chiliz Chain for charity auctions, blending sports heritage with social good. This effort, the first of many, symbolizes our commitment to harnessing technology for meaningful social impact.
Socios.com: Strengthening fan engagement
- Growth and expansion: Socios.com, our fan engagement and rewards app, continued to grow at pace despite the bear market. The platform extended its reach, forging new partnerships (including Spurs, and the successful launch of five Fan Token Offerings) and significantly increasing its user base.
- Increasing utility: Our new Locker Room feature lets fans lock their Fan Tokens to obtain unique digital collectibles, with two options: Locked Locker for immediate rewards and Flexible Locker for post-campaign unlocking. This enhances the platform’s engagement offerings, blending exclusive digital assets with existing physical rewards like signed merchandise and VIP experiences.
- Fan token success: The 30% increase of users across 160 countries highlighted the global appeal and success of our offerings, empowering fans to engage with their favorite teams in unprecedented ways. Fan Tokens are increasingly gaining utility outside of the Socios.com app, and in 2024, users will have greater flexibility in the way they’re used.
- 2023 in numbers: The year witnessed over three million transactions on Chiliz Chain, with a staggering $437 million generated in revenues for the sports industry since 2018. Our initiatives have also led to the launch of 3,000+ Fan Polls and the redemption of 50k rewards, offering fans unique experiences and engagement opportunities.
Looking ahead to 2024: The year of SportFi
As we advance towards 2024, we’re setting our sights on making the upcoming year the definitive year of SportFi. Our vision is anchored in the belief that the fusion of sports and blockchain technology holds immense potential. To realize this vision, we’re dedicated to further enhancing our ecosystem. This means curating more innovative products and services that not only bridge the gap between sports and blockchain technology but also redefine the way fans interact with their favorite sports brands. The foundation for yet another successful year is in place, and we’re excited about 2024.
