• Chiliz launches Chiliz Labs, a $50 million incubator and accelerator program for early-stage blockchain projects.
• Chiliz 2.0 is launching its mainnet soon and preparing to roll out the pilot system for NFT tickets in partnership with FC Barcelona.
• CHZ native token failed to reclaim the $0.15 support line in the market before dropping back down again.
Chiliz Launches Incubator Program
Chiliz (CHZ), the leading sports blockchain, has launched an incubator and accelerator program called Chiliz Labs with a total investment of $50 million USD. The program aims to provide developers with stipends if they are building early stage products on the new blockchain. This comes as Chiliz 2.0 is getting ready for its transition to mainnet this year, which will include rolling out pilot systems for NFT tickets in partnership with FC Barcelona.
Chiliz Announces NFT Ticket Pilots
In celebration of its fifth anniversary, Chiliz released an exclusive Pepper NFT collection on Layer-1 EVM-compatible blockchain that was minted on February 8th, 2023. On top of that, Chiliz has partnered with FC Barcelona since August 2022 and invested $100 million into Barca’s Web3 ventures – including launching pilot systems for NFT tickets using their Layer-1 network in the next couple of weeks.
CHZ Native Token Slumps 8.8%
Despite all of this positive news surrounding Chiliz 2.0, their native token CHZ was unable to reclaim its key resistance line of $0.15 before dropping back down again – resulting in a slump of 8.8%. At press time, CHZ trades at $0.126757 according to CoinGecko and currently ranks #72 among other cryptocurrencies by market capitalization size.
Analysts Predict Potential Rebound For CHZ
Analysts from Wolf Alpha have expressed optimism about CHZ’s potential rebound despite it barely being mentioned these days due to its lacklustre performance in recent months.. They believe that once March rolls around and more people become aware of their upcoming WEB3 Sports Blockchain launch as well as their newly announced incubator/accelerator program that it could have significant bullish implications for CHZ’s price moving forward into 2021 and beyond!
Conclusion
While there is still much uncertainty surrounding where exactly CHZ will end up trading at over the coming weeks/months due to all kinds of different factors impacting both crypto markets generally as well as just how successful Chiliz‘ various projects & initiatives turn out being – overall it appears there may be some light at the end of the tunnel after all!