Ethereum

Fan Token Platform Chiliz: Latest to Link Up with Chainlink Oracles

Chiliz revealed it would be integrating with Chainlink's tech to open up possibilities around automatically creating on-chain collectibles based on real-world events.
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Decentralized oracle project Chainlink continues to extend its reach, this time with a supportive foray into Ethereum’s rising non-fungible token (NFT), or digital collectibles, scene.

That new foray centers around Chiliz, the platform powering the Socios.com sports and esports fan token site. On March 4th, Chiliz revealed it would be integrating with Chainlink’s tech to open up possibilities around automatically creating on-chain collectibles based on real-world events.

“This integration will enable Chiliz to mint [NFTs] for partners on … fan voting and rewards app Socios.com in real time, based on data securely provided by Chainlink’s decentralized oracle network,” the Chiliz team said.

In the same announcement, the platform’s backers also confirmed they would be working on launching a Chainlink Price Reference Contract for CHZ/USD, with CHZ being the project’s Chiliz token that serves as the currency of the Socios.com marketplace. That’s more early traction for Chainlink, as the oracle providers only unveiled their price reference networks back in January.

Where Games and Tokens Collide

Chiliz, which allows fans to use NFTs to engage with teams in novel ways, has seemingly been on the rise as of late — just look at who they have recently been working with.

Last month, FC Barcelona — the richest football club in the world — announced a partnership with Chiliz over the creation of the Barca Fan Token (BAR) for Socios.com, for example. It was the powerhouse team’s first collaboration with a firm from the blockchain sector.

“This agreement will give us the chance to set up innovative marketing and partnership activations with a clear focus on the digital realm to take the club closer to our fans around the world,”

Josep Pont, one of FC Barcelona’s directors, said at the time.

Chiliz has previously locked down similar partnerships with other top football clubs like Atlético de Madrid, Juventus, and Paris Saint-Germain, a reality that suggests other notable teams may follow suit in the near future.

Chainlink in New EY, Microsoft Meld

Chainlink doesn’t seem to slow down, does it?

On March 4th, Big Four professional services firm EY and Ethereum venture studio ConsenSys jointly announced Baseline Protocol, a new tool aimed at helping businesses use the Ethereum mainnet privately and affordably and for a range of activities.

The solution’s inaugural technical steering committee includes the likes of DeFi projects like Chainlink and MakerDAO, as well as mainstream corporate heavyweights like Microsoft and AMD. All will now work together to build out Baseline’s open-source codebase.

Baseline

Naturally, Chainlink’s contributions will focus on oracle infrastructure, with the wider end goal being to turn Ethereum itself into a sort of “middleware” layer through which enterprises can flexibly undertake a wide range of business activities. As ConsenSys mainnet specialist John Wolpert explained on the news:

“A lot of people think of blockchains as the place to record transactions. But what if we thought of the Mainnet as middleware? This approach takes advantage of what the Mainnet is good at while avoiding what it’s not good at.”

The new project comes on the heels of the Chainlink team joining the “Ethereum Mainnet Integration for Enterprises,” or EMINENT, task force earlier this year. Backed by the Enterprise Ethereum Alliance’s EEA Mainnet Working Group, the initiative is focused on creating open standards for corporate record-keeping processes on Ethereum.

“We’re excited to work closely with the EMINENT Task Force to continually push the boundaries of what’s possible in public blockchain environments,” Chainlink’s co-founder Sergey Nazarov said.

Combined with the Baseline Protocol news, Chainlink’s EMINENT appointment makes the project well-positioned to make lasting differences with regard to the way enterprises operate in the Ethereum ecosystem going forward.



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William M. Peaster is a professional writer and editor who specializes in the Ethereum, Dai, and Bitcoin beats in the cryptoeconomy. He's appeared in Blockonomi, Binance Academy, Bitsonline, and more. He enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. He's learning Solidity, too! Contact him on Telegram at @wmpeaster

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