Azuro and Chiliz Working Together to Boost Adoption of Onchain Sport Prediction Markets

(Press release – Lisbon, Portugal, May 9, 2024)

Azzurrothe leading liquidity layer for onchain predictions, and Chili pepper, the world's leading sports and entertainment blockchain company, is collaborating to accelerate the adoption of on-chain sports prediction markets. These efforts will allow millions of fans around the world to further support and encourage their favorite teams and athletes through fair and transparent prediction apps.

Chiliz Chain is known for its blockchain solutions that are transforming fan engagement in sports through features such as fan tokens and interactive engagement platforms. Through its flagship project Socios.com, the network has expanded significantly to support over 80 sports-related fan tokens and over 2 million ecosystem users. Team tokens for top football clubs, including FC Barcelona, ​​Inter Milan, Juventus, Paris Saint-Germain, Manchester City and many more, are all currently powered by Chiliz Chain through Socios.

The network leverages the Proof of Staked Authority (PoSA) consensus algorithm that allows smart contract developers, validators, stakeholders, and other stakeholders to actively interact with the chain. Chiliz Chain is designed to power sports and entertainment applications with an emphasis on brand intellectual property and project use case integrity.

For Chili's, the partnership with Azuro represents a step towards tapping into the rapidly growing on-chain prediction markets through the physical infrastructure layer of cross-chain sports prediction applications for EVMs. Oracle's innovative liquidity pool design, advanced tools, and solutions enable applications to run without upfront investment or operating costs, allowing them to fully focus on user acquisition, engagement, and monetization from minute one.

Azuro's robust platform, which currently supports more than 25 active applications with transaction volumes exceeding $290 million, provides Chiliz with an ideal environment to expand its offerings in the sports and entertainment sectors.

As part of this collaboration, Chiliz will be integrated into the Azuro Protocol, adding to existing supported chains such as Polygon and Gnosis Chain. This integration will enable Chiliz to expand its reach within sports-focused forecasting applications. New and existing developers who rely on Azuro's infrastructure will be able to connect their applications to the Chiliz Chain and allow their users to conduct transactions using the blockchain's native token CHZ.

“The integration with Azuro represents a pivotal step for Chiliz Chain to capitalize on the rapidly expanding on-chain prediction market,” said Alexandre Dreyfus, CEO of Chiliz and Socios.com. “By leveraging Azuro’s advanced infrastructure, we are empowering developers to innovate in the sports and gaming sectors.”

“On-chain prediction markets have always been strongly linked to the sports and entertainment sector,” said Rossin, one of Azuro’s core shareholders, “Working alongside Chiliz Chain, the leading blockchain in this sector, seems like an obvious step for us. The infrastructure will help Azuro's strong contribution to expanding Chiliz Chain's usability within the rapidly growing on-chain prediction markets.”

Looking to the future, Azuro and Chiliz will soon launch a co-sponsored grant program aimed at incentivizing app developers to build on their shared infrastructure. These initiatives, including rewards for first applications, are designed to foster further adoption of on-chain prediction markets, and align with Azuro's vision of setting new standards of transparency and fairness.

About Azzurro

Azuro is the onchain prediction layer. It consists of modular tools, oracles and liquidity solutions for EVM chains to host powerful forecasting and gaming applications.

With its unique infrastructure layer approach, Azuro makes cross-chain predictions and gaming portable and composable. It allows anyone to engage and monetize users by building apps, integrations, and products quickly, permission-free, and without any upfront or operational costs.

For more information or press inquiries, please contact team@azuro.org

About Chili's

Chili's is the home of SportFi, where sports brands cater to decentralized opportunities. Its infrastructure is based on the Chiliz Chain, the first Layer-1 EVM compliant blockchain for sports and entertainment that now has a diverse ecosystem, powered by Chiliz's native token CHZ. Its core product in the Chiliz series, Socios.com, hosts a global community of over 2 million users, making it the world's largest non-financial consumer/business Web3 product in terms of user base. It has partnerships with countless brands, including global sports giants such as FC Barcelona, ​​Paris Saint-Germain, Manchester City, Juventus, SSC Napoli, Inter Milan, AC Milan, Arsenal, Atletico Madrid, Roma and Formula 1 teams. Grand.