OKX, a prominent web3 technology firm, has been announced as the newest validator on the Chiliz Chain, the first Layer-1 EVM compatible blockchain for sports and entertainment. This development represents a significant milestone for the sports and gaming blockchain industry. OKX’s role as a validator will enhance the network’s scalability, security, and governance, making it easier to create and implement smart contracts and ensuring reliable transaction verification processes.
By becoming a validator within the Chiliz ecosystem, OKX brings a wealth of experience and a creative mindset from the cryptocurrency exchange industry. The recent addition of validators PSG and the French state-owned energy firm EDF Group, along with K League, Infstones, Ankr, Paribu, Meria, and Luganodes, further strengthens the capabilities of the Chiliz Chain through this alliance.
The relationship between OKX and Chiliz has reached significant turning points, demonstrating a strong commitment to the alliance. Notably, since March 2021, OKX has enabled spot trading for Chiliz’s native token, CHZ, significantly increasing its accessibility. In October 2023, OKX started supporting the integration of Chiliz (CHZ) 2.0 mainnet. Additionally, OKX has actively engaged with the sports community by offering various fan tokens, including tokens from renowned football teams like Manchester City and Tottenham Hotspur FC.
The Chiliz Chain aims to create a comprehensive SportFi ecosystem, providing a unique platform for innovative interactions between sports brands, gaming firms, and their followers. Through the utilization of blockchain technology, it becomes possible to develop fan tokens, NFTs, and decentralized apps (dApps), which enhance the fan experience by promoting greater involvement and interaction.
