Chiliz (CHZ) and Enjin (ENJ) Launch New Blockchain-Based Collectibles | BTCMANAGER

Chiliz (CHZ), a blockchain-based fan engagement platform is collaborating with the Enjin (ENJ) distributed ledger technology (DLT) project to use the latter’s blockchain development platform to create Ethereum-powered branded collectibles for the sports and entertainment industry, according to a blog post on February 6, 2020.

Chiliz and Enjin Collaborate

Per the publication, Chiliz and Enjin are collaborating to create Ethereum-based collectibles for the sports and entertainment industry.

According to the team, Chiliz will use Enjin’s blockchain development platform to create non-fungible tokens (NFTs) for partners of its blockchain-powered fan engagement and rewards app, Socios.com.

These partners, span across major football clubs including Juventus, Atlético de Madrid, Paris Saint-Germain, Galatasaray, A.S. Roma, and West Ham.

Further, the branded digital collectibles will be based on ERC-1115, an Ethereum token standard developed by Enjin to create fungible and non-fungible tokens using a single smart contract.

All collectibles will also be freely traded for the Enjin Coin (ENJ), and Chiliz ($CHZ), at the Enjin Marketplace.

Chiliz Plans to Launch Limited-edition Licensed Collectibles

Revealing its plans for the future, Alexandre Dreyfus, CEO of Chiliz & Socios.com said limited-edition licensed collectibles will also be launched, and club-specific rewards and experiences offered via Socios.com will be tokenized.

Maxim Blagov, Enjin CEO said:

As one of the earliest forms of entertainment, sport is a perfect fit for both our brand and our expanding collection of blockchain gamification use cases.

Chiliz, on the other hand, revealed that it is set to announce at least one major partnership this month, and by the end of 2020, it is hoping to get 50 IPs from sports, esports, and the entertainment industry.

According to the fan engagement platform, it had raised $66 million from investors including some of the largest crypto exchanges in the world and leading crypto funds in Asia.

$CHZ, its native asset, has surged by over 15% today and 37% from the start of the year.

On the other hand, Enjin reportedly raised $18.9 million during its Initial Coin Offering (ICO) in 2017, which enabled the platform to develop a suite of blockchain products.

Like $CHZ, ENJ has made significant gains today and has performed even more remarkably given that it has increased by 86.38% from its starting price of the year.

BTCManager informed on December 5, 2019, that Enjin has partnered with Microsoft to launch Azure Heroes, a blockchain-based recognition program.

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