Chiliz has announced that ‘Scoville’, the public testnet for Chiliz Chain 2.0 (CC2), the first Layer-1 blockchain created especially for the sports and entertainment industries, is now live. CC2 enables sports and entertainment brands to mint NFTs and Fan Tokens, build DeFi products and Play2Earn games and create event, loyalty and merchandising programs, helping them unlock the huge potential of Web3 in collaboration with decentralized infrastructure protocol, Ankr.
CC2 will seek to advance the Web3 capabilities of high-profile sporting and entertainment firms to create nonfungible tokens (NFTs) and fan tokens, construct decentralized finance (DeFi) applications and play-to-earn (P2E) games, as well as implement a range of programs and services for their community.
Speaking on the projects vision for the growth in engagement and utility of the CHZ token for both fans and developers amid a transition towards a more inclusive ecosystem, Rabinovitch revealed that “utility and fan engagement is achieved through fan tokens on Socios.com, where CHZ has existed as a medium of exchange, but thanks to CC2, Socios.com is no longer the sole steward of the Chiliz narrative”, and that “holders will be able to stake their CHZ allowing them to become active network participants.”
The Chiliz Labs accelerator program will also provide infrastructure services, technical assistance and funding grants to developers seeking to build on-chain applications upon the CC2 network.
CC2 is EVM compatible with gas fees up to 200x cheaper than ETH. CC2 also offers high TPS, enabling developers to interact with smart contracts with speed and efficiency.
CC2 adopts a PoSA (Proof-of-Stake Authority) model, estimated to be up to 2000x more energy efficient than Proof-of-Work, incentivising $CHZ holders to stake their tokens. Approved stakeholders, which can include existing Socios.com partners and other sports and entertainment brands, will also be able to become on-chain validators, enabling them to benefit from continued growth of the ecosystem and lead to increased decentralization.
Alexandre Dreyfus, CEO of Chiliz and Socios.com said:
Thanks to our existing network of 130+ partners and connections to the biggest exchanges in the world, CC2 is already a mainstream Layer-1 blockchain.
It’s a secure, network effect driven development community where our existing partners and many more enterprise and start-up level brands from sports and entertainment can build a full suite of Web3 products and services.
And, it’s all powered by $CHZ.
Chiliz, the world’s leading blockchain provider for the sports and entertainment industries, employs nearly 250 staff and has regional offices in Madrid, London, Istanbul, Miami, Malta and Lyon. $CHZ is available on all of the world’s leading cryptocurrency exchanges. More details on the mainnet launch of CC2 will be revealed shortly, as will the identity of the first new brands from sports and entertainment to join Chiliz existing 130+ roster of partners and start building on the new L1 blockchain. Chiliz is also developing an accelerator programme — Chiliz Labs — to foster on-chain development on CC2 via exposure to $CHZ grants, technical and creative guidance and product support.