Sports digital asset project Chiliz has announced the launch of the Scoville testnet for the newly created Chiliz Chain 2.0 layer 1 blockchain network, also known as CC2.
CC2 will aim to empower Web3 of well-known sports and entertainment firms to create non-fungible tokens (NFT) and fan tokens, create decentralized finance (DeFi) applications and play-to-earn (P2E) games, and introduce a range of programs and services for its communities.
Established in 2018 and headquartered in Malta, Chiliz has established itself as the leading digital asset for sports participation, with their native token, $CHZ, serving as the main currency on the fan-facing Socios.com platform.
Providing specific details on the stakeholder approval process, as well as the on-chain validation mechanism proposed under the Proof of Stake Authority model), Chiliz Chief Strategy Officer Max Rabinovich stated that “the number of validators will increase over time as the ecosystem grows.” and the fees are significant enough to be shared among a large number of validators.”
“Validator approval must go through our governance process, with validators voting to approve any new validators. The strength of the vote will depend on the amount of $CHZ stacked by each validator.”
Following the successful implementation of a six-stage testnet roadmap in which the name of each iteration matches the brand ethos and follows a chronological order based on the Scoville hot pepper scale, the Habanero mainnet launch is expected between Q3 and Q4 of this year.
CC2 WILL become the protocol backbone of the web3 development ecosystem focused on the needs of sports and entertainment organizations.
$CHZ is currently ranked 66th in the market cap rankings and is worth $0.284 at the time of writing. The asset hit an all-time high of $0.89 just over a year ago and has since declined in relative parity with other assets in the market.
Speaking about the vision for projects to increase engagement and the utility of the $CHZ token for both fans and developers in the transition to a more inclusive ecosystem, Rabinovich said that “the utility and engagement of fans is achieved through fan tokens on Socios.com, where CHZ existed as a means of exchange, but with CC2, Socios.com is no longer the sole steward of the Chilise story” and that “owners will be able to bid on their $CHZ, allowing them to become active members of the network.”
The Chiliz Labs accelerator program will also provide infrastructure services, technical assistance, and financial grants to developers seeking to build network applications on the CC2 network.
Related: Cointelegraph Top 100 2022 – Alexander Dreyfus, CEO of Socios.com and Chiliz – #23
Earlier this week, Socios.com announced the signing of football legend Lionel Messi as the company’s first global brand ambassador. The deal, worth more than $20 million, is said to be for an initial three-year period.
Having forged partnerships with over 130 high-profile football organizations, including Messi’s former childhood club Barcelona and his current club Paris Saint-Germain, Socios believes this acquisition can empower fans around the world to participate in their favorite game, as well as to encourage more active participation in working with digital assets on their platform.
Rabinowitz has been candid about his enthusiasm for the partnership, calling Messi “the greatest player of all time” or “the goat” – a cultural accolade often credited to the sport’s most respected players such as Pele and Diego Maradona and, more recently, Cristiano Ronaldo. and Leo Messi. The debate about who is the true GOAT continues!
Today, roughly 90% of our staff using Twitter spent 5 minutes each trying to come up with a smarter way to signal that we signed Messi, only to end up smashing the GOAT emoji and be done with it. — Max Rabinovitch (@Max_Rabinovitch) March 29, 2022
