Sports tokenization startup, Chiliz announced today that it has partnered with Enjin, a blockchain asset creation project, to launch non-fungible tokens (NFTs) for its flagship fan engagement platform, Socios.
The new partnership will see Chiliz use Enjin’s platform to mint Ethereum-based collectibles for the different sports teams such as Juventus, Paris St Germain, Galatasaray, Roma, etc who are already engaging with fans on Socios.
The digital collectibles assets will be created using popular Ethereum smart contract standard, ERC-1155, while they will subsequently be available for trading on the Enjin Marketplace, and purchasable with both $ENJ and $CHZ.
Alexandre Dreyfus, CEO of Chiliz & Socios.com shared more insights regarding the possible use cases for the new kind of NFTs. He mentioned that using Enjin, Chiliz will tokenize the club-specific rewards and experiences such as a token for the celebration of a league triumph or player achievements.
Dreyfus further explained that they would continue working towards improving and expanding the utility of CHZ, with another major sports partner expected to be announced within the month of February.
Meanwhile, Chiliz’s latest partnership comes within the same period that the project reached the 100,000 user mark, a significant milestone, within the first three months after rolling out its app.
At the time of writing Chiliz (CHZ) is trading at $0.009 with a market cap of $33.8 million. Enjin (ENJ), one the other hand, is trading at $0.136832 with a market cap of $109,388,900.