Chilliz and Azuro Partner to Tap Into Growing Onchain Sports Prediction Market

CryptoNews.com

2024-05-09 07:00:25

Tanzeel Akhtar

Last updated:

May 9, 2024 11:00 EDT | 1 min read

Chiliz, the owner of the blockchain sports rewards platform Socios.com, and Azuro, a liquidity layer for onchain predictions, have partnered to grow the onchain sport prediction market.

In an announcement, the firms said the collaboration will involve Chiliz Chain integrating the Azuro Protocol, and adding existing supported chains such as Polygon and Gnosis Chain.

This will allow Chiliz to expand into the sports-focused prediction applications market and any existing builders using the Azuro infrastructure will be able to connect their apps to the Chiliz Chain. This in turn will allow users to place transactions with the Chiliz blockchain native token CHZ.

“Integrating with Azuro marks a pivotal move for Chiliz Chain to capitalize on the rapidly expanding onchain prediction market,” said Alexandre Dreyfus, CEO of Chiliz and Socios.com, a press release. “Leveraging Azuro’s advanced infrastructure, we’re empowering developers to innovate within the sports and gaming sectors,” adds Dreyfus.

In April, Azuro, a decentralized autonomous organization (DAO) building a protocol for blockchain-based predictions, raised $11 million with investment from SevenX Ventures and Arrington Capital. Since launching, Azuro claims it has become the fastest-growing protocol on Gnosis Chain and the number one revenue-generating protocol on Polygon.

Azuro, Chiliz to Launch Co-Sponsored Grants Program

In the near future, Azuro and Chiliz said they will be launching a co-sponsored grants program aimed at incentivizing app developers to build on their combined infrastructure. In return the firms will award bounties for the first apps that push further adoption of onchain prediction markets, and meet their goal for setting new transparency and fairness standards.

What is Chilliz?

Chiliz was developed with the purpose of facilitating the distribution of blockchain-based sports and entertainment services and goods. Fan tokens are a revolutionary new method for users and teams to communicate and participate on Chiliz.

The Chiliz platform allows users to buy exclusive fan tokens from major league teams and popular businesses across the world. Chiliz is currently trading at $0.12 however the Chiliz Token does have an all time high of $0.89. Voting privileges and opportunities for recognition and incentives based on user participation are unlocked for purchasers of Chiliz (CHZ) token.

Chiliz owned Socios.com hosts over two million users. The firm has partnerships with FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, S.S.C Napoli, Inter Milan, AC Milan, Arsenal, Atlético Madrid, A.S. Roma and the major F1 teams

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