Chiliz's price has been boosted by the announcement of the launch of its own blockchain, coupled with the frenzy surrounding the Qatar 2022 World Cup and the approval it received from Japanese authorities to list on the national DMM market.
Earlier last week, Chiliz founder Alexandre Dreyfus informed his community that the platform for digital collectibles of players and Fan tokens will soon start using its own blockchain, called CHZ 2.0, to break away from the Ethereum network, the blockchain on which it was born.
The change comes amid a growing need to offer scalability and accessibility to its community of brands and users, Dreyfus said. In his post on the social network, the Chiliz founder noted that the new blockchain will allow the platform to scale, to offer high performance to the more than 100 brands in the sports industry that are part of its ecosystem.
Dreyfus also commented that his token CHZ will start trading on the national asset market DMM Bitcoin, operated by Japanese entertainment and goods and services marketing site DMM.
To this, we can add that the company that develops the platform has closed important Agreements with new sports teams, such as Stade Français Paris, the first French rugby club to join the platform, and the Sharks, the South African rugby team, which has also become the first in the country to launch Fan tokens.
How much has the price of Chiliz increased?
The price of Chiliz (CHZ) has seen an increase of over 10% this week, according to data from CoinMarketCap at the time of writing.
The cryptocurrency is currently trading at around $0,20 USD per unit, although last Wednesday it reached its highest price in the last 4 months, exceeding $0,26 USD per unit. At this peak, CHZ marked a weekly growth of approximately 44%.
Source: CoinMarketCap
Chiliz traders are moving around $492 million per day in the cryptocurrency, representing a 42% increase in daily CHZ volume since Monday, when it was trading around $346 million per day, according to the platform's data.
With this weekly gain, Chiliz (CHZ) ranks as the third gainer in the cryptocurrency market this week, ranking behind XEC and HT.
The Qatar 2022 World Cup
As Chiliz has established itself as the first and largest tokenized asset exchange platform for the sports world, it is only natural that interest in this project is growing as the 2022 World Cup in Qatar approaches, which will take place from November 20 to December 18.
Continue reading: Spanish football clubs are betting on the Metaverse
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