Fans and users are exploring new, decentralized ways to engage with live sports events. One of the most prominent developments in this space is the rise of crypto sportsbooks.
A crypto sportsbook is a platform that allows users to place forecasts on sporting events using cryptocurrencies rather than fiat money (like USD or EUR).
The flexibility of blockchain means users are not restricted to a single currency. Depending on the platform, a variety of digital assets can be used to interact with these protocols: Stablecoins (USDT, USDC), regular cryptocurrencies (BTC, ETH, CHZ), or even Fan Tokens should a platform integrate its support.
Indeed, Web3 platforms continuously integrate new networks to broaden their reach. Recently, the decentralized platform Dexsport integrated Chiliz Chain, enabling users to connect directly to the platform and use their $CHZ.
To celebrate this integration, they launched a one-month competition for Chiliz users, with a $50,000 prize pool.
Sportsbook platforms such as Dexsport turn passive token holding into active engagement, providing an additional utility that connects sports and DeFi. This is why Web3 gaming can be key to the future of Web3 and Fan Tokens.
This communication is for informational purposes only and does not constitute an endorsement by the Chiliz Group, nor does it constitute financial or investment advice. Crypto-assets are complex and subject to extreme volatility; their value can fluctuate significantly, leading to substantial losses. Engagement with third parties services/products involves risks, including those specific to their offerings. The Chiliz Group is not liable for any actions, omissions, or compliance of third parties. Terms and conditions may apply.
