Azuro and Chiliz Collaborate to Drive Adoption of On-Chain Sports Prediction Markets – Blockchain News, Opinion, TV and Careers

adminMay 9, 2024

Lisbon, Portugal, May 9, 2024, Chainwire

Azuro, the leading liquidity layer for on-chain predictions, and Chiliz, the world’s leading sports and entertainment blockchain, are collaborating to accelerate the adoption of the on-chain sports prediction market. This effort will enable millions of fans around the world to further support and root for their favorite teams and players through a fair and transparent prediction app.

Chiliz Chain is known for its blockchain solutions that transform fan engagement with sports through features such as fan tokens and interactive engagement platforms. Through its flagship venture, Socios.com, the network has expanded significantly to support over 80 sports-related fan tokens and over 2 million ecosystem users. Team-specific fan tokens for top football clubs including FC Barcelona, Inter Milan, Juventus, Paris Saint-Germain, Manchester City and more are currently supported on the Chiliz Chain through Socios.

The network utilizes the Proof of Staked Authority (PoSA) consensus algorithm, which allows smart contract developers, validators, stakers, and other stakeholders to actively interact with the chain. Chiliz Chain is built to power sports and entertainment applications with a focus on brand IP and project use case integrity.

For Chiliz, the partnership with Azuro represents a step towards leveraging the rapidly growing on-chain prediction market with a de facto infrastructure layer for sports prediction applications across the EVM chain. Our innovative liquidity pool design, advanced tools, and Oracle solutions allow you to launch your app with no upfront investment or operational costs, so you can focus entirely on user acquisition, engagement, and monetization from day one.

Azuro’s powerful platform currently supports over 25 active applications with over $290 million in transaction volume, providing an ideal environment for Chiliz to expand its offerings in the sports and entertainment sectors.

As part of this collaboration, Chiliz will be integrated into the Azuro protocol, adding to existing support chains such as Polygon and Gnosis Chain. This integration allows Chiliz to expand its reach within sports-focused prediction applications. New and existing builders using the Azuro infrastructure can connect their apps to the Chiliz chain and allow users to transact using the blockchain’s native token CHZ.

“Integration with Azuro marks a pivotal move for Chiliz Chain to leverage the fast-growing on-chain prediction market,” said Alexandre Dreyfus, CEO of Chiliz and Socios.com. “By leveraging Azuro’s advanced infrastructure, we are empowering developers to innovate in the sports and gaming sectors.”

Rossen, a key contributor to Azuro, said: “On-chain prediction markets have always been strongly linked to the sports and entertainment sectors. Working with Chiliz Chain, the leading blockchain in this sector, feels like an obvious step for us. Azuro’s robust infrastructure will help expand Chiliz Chain’s utility in the rapidly growing on-chain prediction market.”

Looking ahead, Azuro and Chiliz will soon launch a jointly sponsored grant program to encourage app developers to build combined infrastructure. These initiatives, including bounties for the first apps, are designed to drive further adoption of on-chain prediction markets and are consistent with Azuro’s vision to set new standards for transparency and fairness.

Introduction to Azzurro

Azuro is an on-chain prediction layer. It consists of modular tools, oracles, and liquidity solutions for the EVM chain to host powerful prediction and gaming apps.

Azuro makes on-chain predictions and gaming portable and composable through a unique infrastructure layer approach. It allows anyone to quickly and permissionlessly build apps, integrations, and products to engage users and generate revenue, with no upfront or operational costs.

For more information or media inquiries, please contact team@azuro.org.

About Chiliz

Chiliz is the home of SportFi, where sports brands meet decentralized opportunities. The infrastructure is powered by Chiliz Chain, the first Layer-1 EVM-compatible blockchain for sports and entertainment. Currently, Chiliz has a diverse ecosystem based on its native token CHZ. Chiliz Chain’s flagship product, Socios.com, hosts a global community of over 2 million users, making it the largest non-financial/transaction-focused Web3 consumer-facing product globally by user base. We partner with numerous brands including some of the biggest names in world sport, including FC Barcelona, Paris Saint-Germain, Manchester City, Juventus, SSC Napoli, Inter Milan, AC Milan, Arsenal, Atletico Madrid, AS Roma and major F1 teams.