Chiliz Chain 2.0 Goes Live, Sending CHZ Up 7.06%

Samuel Edyme

2 years ago

3 mins read

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Today, the Chiliz blockchain and its CHZ cryptocurrency, created for the entertainment and sports industry, announced the launch of its new Chiliz Chain 2.0 Mainnet.

Alexandre Dreyfus, Chiliz CEO, announced the launch via Twitter. The new Ethereum Virtual Machine (EVM) compatible Layer-1 blockchain, Chiliz 2.0, produced its genesis block. The price of CHZ, the native token, witnessed a positive rally, currently trading at $0.157, up 7.06% following the announcement.

Chiliz CHZUSDT_2023-02-08_19-06-31 — CHZ’s price moving to the upside on the daily chart. Source: **CHZUSDT Tradingview**

Chain 2.0 Upgrading Chiliz Platform Using EVM Technology

Dreyfus said the Chiliz Chain 2.0 launch today has seen the platform upgraded using Ethereum Virtual Machine (EVM) technology with a fully Ethereum-compatible environment and low network fees.

The CEO said the launch of the new chain would see more Web3 developers and brands join Chiliz to build on its new blockchain and get access to its Web3 infrastructure, entertainment, and sports network.

According to a press release, Chiliz Chain 2.0 (CC2) is set to accelerate the creation of fan tokens and enable brands and clubs to issue them, mint nonfungible tokens (NFTs), and other DeFi products, such as play-to-earn crypto games and merchandised certificates.

Dreyfus said the upgraded Chiliz Chain 2.0 Mainnet would see the CHZ token become a global network, with more mainstream brands and sports and entertainment entities set to join the CHZ ecosystem.

As per the announcement, the new network will create a Web 3 ecosystem where users can develop new experiences whereby the value of the community increases as more people join. Participants will also be able to access global brands and leverage existing partners in the entertainment and sports industry.

The CHZ token will enhance the accessibility of the Chiliz blockchain ecosystem and all the dApps built on top of it. Holders of the CHZ token will become eligible to win rewards for staking and (delegation of staked tokens) on the network.

Chiliz is a popular cryptocurrency that allows fans to mint tokens related to sports events, professional athletes, and entities with Blockchain tools to help them engage with their fans.

Chiliz has so far partnered with over 120 major sports teams and clubs, including the likes of esports teams, NBA teams, Formula One Giants, The Ultimate Fighting Championship (UFC), and football clubs like Manchester City, Arsenal, Paris-Saint Germain, Atlético de Madrid, A.S. Roma, and FC Barcelona, among others, as well as collaborating with the entertainment market.

Chiliz Price Analysis

CHZ was established in August 2019 and, within a few days, soared its value to the $0.0150 mark. Since then, crypto has seen a positive performance.

The coin gained significant traction in the market in 2021 because of its unique offering and multiple partnerships.

Last year, Chiliz slid its price, partly triggered by the crypto bear market, catalyzed by the crash of the Terra ecosystem, Three Arrows Capital, and crypto exchange FTX. These collapses left the crypto industry struggling and the token consistently trading below the $0.10 level.

Since this year, Chiliz has surged its value. The token is trading at $0.156901, up 0.83% in the last 24 hours, with a trading volume of $669 million. With a market cap of $1 billion, CHZ is currently ranked #53 among cryptocurrencies listed on Coinmarketcap.

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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