The announcement of OKX, a leading web3 technology firm, as the newest validator on the Chiliz Chain—the first Layer-1 EVM compatible blockchain for sports and entertainment—marks a key milestone for the sports and gaming blockchain industry. By serving as a validator, OKX improves the network’s scalability, security, and governance while making it easier to create and implement smart contracts and guaranteeing reliable transaction verification processes.
By integrating as a validator into the Chiliz ecosystem, OKX brings with it a wealth of experience and a creative mindset from the cryptocurrency exchange industry. The recently announced validators PSG and the French state-owned energy firm EDF Group, together with K League, Infstones, Ankr, Paribu, Meria, and Luganodes, strengthen the Chiliz Chain’s capabilities via this alliance.
Significant turning points in OKX’s relationship with Chiliz have been reached, indicating a strong commitment to the alliance. Notably, from March 2021, OKX has enabled spot trading for Chiliz’s native token, CHZ, greatly increasing its accessibility. In October 2023, OKX began to support the Chiliz (CHZ) 2.0 mainnet integration. Additionally, OKX has been actively involved in the sports community by offering a variety of fan tokens, including several tokens from well-known football teams like Manchester City and Tottenham Hotspur FC.
With a broader SportFi ecosystem, the Chiliz Chain aims to provide a distinctive platform for innovative interactions between sports brands, gaming firms, and their followers. Through the use of blockchain technology, it makes it possible to develop fan tokens, NFTs, and decentralized apps (dApps), which enhance the fan experience by encouraging more involvement and interaction.
