Chiliz and Decentralized Oracle Powerhouse Chainlink Partner on Real-Time Sports NFTs

The leading sports and blockchain-based fan engagement digital currency Chiliz (CHZ) has integrated Chainlink, the secure decentralized network from Oracle that enables the auto-execution of smart contracts based on real-world events and data.

Welcome @Chiliz to the Chainlink ecosystem! Chiliz is using Chainlink to launch dynamic non-fungible tokens based on live sporting events. They're also using & supporting the CHZ/USD price reference contract, so conversions source accurate on-chain prices. https://t.co/rLAIbjLMId

— Chainlink – Official Channel (@chainlink) March 4, 2020

With this integration, Chiliz will get to mint Non-Fungible Tokens (NFTs) in real time for partners on Socios.com, after using data provided by Chainlink. Furthermore, Chiliz will introduce and support a CHZ/USD Chainlink Price Reference Contract to provide the most accurate on-chain prices for conversions between $CHZ and USD.

FC Barcelona and Juventus Among Partners

The platform already has FC Barcelona, Paris Saint-Germain, Juventus, A.S. Roma, Atlético de Madrid, Galatasaray, CA Independiente and the back-to-back OG champions of Dota 2 esports as partners. Chiliz is thinking to partner up with 50 IPs in the sports, entertainment and esports industries till the end of this year. The latest integration makes it possible for Chiliz to create dynamic and real-world sporting events responsive NFTs while minting collectible tokens with limited availability. For example, it can mint a certain number of tokens when Lionel Messi breaks another goal-scoring record.

Chiliz, a New Player for Branded Collectibles

At the beginning of last month, Chiliz made its entrance into the branded collectibles world, after announcing its partnership with Enjin, in order to mint Ethereum (ETH) -based collectibles for Socios.com. About the latest Chainlink integration, Chiliz and Socios.com’s co-founder and CEO, Alexandre Dreyfus, had this to say:

“NFTs will be key to expanding the utility of $CHZ in 2020 and beyond. The Chainlink integration enables us to be responsive to real world sporting events in real time, allowing us to mint limited availability NFTs to commemorate moments that can’t be predicted or recreated, giving these tokens real collectors value.”

Chainlink Makes a Move into Sporting

It’s the first time Chainlink integrates with a sporting platform. Until now, it has been busy with all sort of blockchain projects that provide accurate and secure feeds, not to mention that it has most recently become a standard protocol for decentralized finance (DeFi) apps. What it surprised with is its integration with other sectors, such as the ones of gaming, sporting and insurance.