Italian luxury sports car manufacturer Ferrari is moving into the blockchain industry by inking a partnership with Swiss blockchain startup Velas Network.
Ferrari officially announced Monday that it signed a multi-year agreement with Velas to jointly issue “exclusive digital content” for the Scuderia’s fans. Velas will also be the main sponsor for Ferrari Esports Series, the online series competing in the F1 Esports Series, the official digital championship including all teams participating in the FIA Formula 1 World Championship.
The announcement describes Velas as a major company in the industry of digital assets and blockchain, emphasizing the startup’s focus on nonfungible tokens (NFTs):
“A global player in the blockchain and NFT sector, Velas has distinguished itself through the performance and innovation of its services and its technological leadership, characteristics that unite it with the Maranello team.”
Scuderia Ferrari’s general manager Mattia Binotto noted that the company chose Velas as one of its premium partners as the companies share values like innovation and performance of technologically advanced products and services.
Farhad Shagulyamov, a co-founder and newly appointed CEO at Velas, said that it was natural for Velas to partner with “another icon of excellence, which is Ferrari.”
“Velas has introduced an innovative variety of pioneering technology into the blockchain and associated products, which will now be showcased at the pinnacle of motorsport,” he noted.
The next chapter is coming Today, Velas officially partnered with Scuderia Ferrari. Thanks to both the @ScuderiaFerrari and @VelasBlockchain teams for such fantastic work you have done together.
Don’t miss our updates to know more pic.twitter.com/X6NuVkKCkR
— Farkhad S (@SFarkhad) December 27, 2021
Ferrari and Velas did not immediately respond to Cointelegraph’s request for comment.
Related:Global search interest for ‘NFT’ surpasses ‘crypto’ for the first time ever
Velas is an open-source blockchain network working to provide a mix of the best features of centralized and decentralized tools. As of October, the firm allocated $100 million to startups building on top of the Velas blockchain, which was a significant surge from its initial pledge of $5 million.
Velas coin (VLX), the native token of the Velas blockchain, has seen edged up significantly recently. Trading at $0.346, the token is up around 4% over the past 24 hours at the time of writing, according to data from CoinGecko. VLX is up more than 70% over the past seven days.
In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century.
When trying to examine the nonfungible token (NFT) economy as it has been shaping in recent months, two main trends can be discerned. On the one hand, a completely new market that allows various artists to join a new creator economy — the creators of Bored Ape Yacht Club, various types of pixel art creators and creative flickers such as the creator of long-necked women’s paintings, the sale of which brought the artist, only 12 years old, close to 1,394 Ether (ETH), equal at the time of writing $6 million.
But the truth is that an NFT is much more than that. Take, for example, one of the first significant NFT sales, when Jack Dorsey sold the first tweet that appeared on Twitter in exchange for an amount that was then worth about $2.9 million. This NFT gained value, but in fact, its very assimilation as an NFT preserved a kind of heritage.
The day Twitter goes down the web, or the outdated text platform disappears, like many sites that were part of the web’s annals and simply disappeared, the only things left will be those for which someone has created economic value, beyond the symbolic value. A unique value, which stands on its own, and which makes the preservation of tradition and heritage a sustainable operation.
Garry Kasparov does NFTs
Garry Kasparov, the former world chess champion, the man who has held that title for more years than anyone else, has decided to turn his legacy digital, and turn extensive chapters of his past into an NFT.
“My NFT venture with 1Kind reflects my lifelong desire to take on new challenges and work with exciting new technologies,” says Kasparov. “From artificial intelligence to cryptocurrencies and the blockchain, I’ve always believed that innovation is the only way forward. We’ve worked together closely from the start to create not just unique items, but a completely new way of using NFTs to tell a story, one with real history behind it. “
One of the interesting things about Kasparov is his interest in human-machine interfaces. Kasparov is perhaps the most famous chess player of all time, the youngest to win the world championship as well as the longest-reigning world chess champion of all time.
But, in fact, his matches against supercomputers bought him his worldwide fame. Kasparov has repeatedly won state-of-the-art chess computers, but his loss, in 1997, to IBM’s Deep Blue computer marked the watershed and symbolized the fact that artificial intelligence manages to match and even achieve human intelligence. On the symbolic level, it was precisely this loss that linked Kasparov’s fate to the development of the digital age.
Related:Without quantum security, our blockchain future is uncertain
Now, with the NFT project that Kasparov is launching together with the 1Kind platform, he is once again shaking up basic concepts — of heritage, legacy and history. Kasparov seeks to create a digital presence for various chapters in his past, thus creating a legacy that does not depend on exhibits, display cabinets or history books. The objects, pictures and paintings depicting his past, he drops through NFTs, not to support some creator economy but like that Dorsey tweet, to preserve a legacy before it vanishes, and to bring in more people as interested in preserving that heritage. As Kasparov explains:
“This is the first time an entire life will be turned into NFTs — my life. I wanted to share not only my chess games and successes but everything that formed me and my legacy on and off the chessboard.”
A new chapter of heritage perseverance
To this day, to document a heritage, one needs unique books, museums or tours. But all of this requires massive, long-standing support — after all, a museum cannot own itself and needs the support of taxpayer money or unique funds. But when Kasparov makes his legacy public in the NFT, he is decentralizing the preservation of the heritage. He calls on collectors to take part not only in his legacy but also in its preservation. At the simplest level — if Kasparov himself disappears from human consciousness, even these heritage objects will lose their value. So that the interest of the person taking part in the sale becomes the same as that of Kasparov himself. Preserve the heritage and expose it to as many people as possible.
“The deeply personal nature of this project is apparent in every NFT. My family and childhood, my rise as a chess champion and conquest of the world title, and my explorations into politics, education, writing and speaking. Documents and artifacts never before seen by the public include my personal notebooks and family photos. The cast includes the coaches that shaped my chess, my fresh start with a new career and family after chess, and, through it all, my greatest champion from the very beginning, my mother.”
“Garry, how do you want to be remembered?” I admit I thought about such things even as a young world champion, but back then I only considered my legacy at the chessboard. Decades later, this third drop of NFTs is my answer. https://t.co/dpqqNvnVJD pic.twitter.com/OGtaKMkOex
— Garry Kasparov (@Kasparov63) December 16, 2021
In practice, this is an interesting experiment. After all, this sale includes not only digital art, or representations of past moments, such as the Moments of the NBA, but also digital representations of real objects such as notebooks, cards, physical photographs from Kasparov’s past and others. That is, the buyer will have digital ownership of objects, which someone else may have physical ownership of.
Related:Gen Z and the NFT: Redefining ownership for digital natives
But in fact, it is possible that in the world we are heading towards, it is not clear who will have the more equal ownership — the one who holds a paper copy of a game card in the safe, or the one who holds the digital representation, which can be displayed to the world without fear of being damaged or gone. Kasparov himself also admits that this is no small challenge, but perhaps this is again his way of breaking down barriers and concepts, in the transition to the Web 3.0 era.
“I admit to being a little nervous, like sitting down in my first world championship match, playing against a supercomputer, or when I left behind the familiar world of chess to fight for democracy in Russia and beyond. But what are we without new challenges? Without taking risks? The status quo was never good enough for me, and in that spirit I’m delighted to share this ambitious and unmatched collection. I hope people would enjoy it and I can not wait to see what comes next,” says Kasparov.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Ariel Shapira is a father, entrepreneur, speaker, cyclist and serves as founder and CEO of Social-Wisdom, a consulting agency working with Israeli startups and helping them to establish connections with international markets.
In its debut weekend, the first NFT from Adidas Originals’ “Into the Metaverse” project has generated 11,391 Ether (ETH), worth over $43 million, on OpeanSea. Ranked by trading volume, this collection has earned the second spot on OpeanSea after RTFKT’s Clone X and Takashi Murakami collection.
In collaboration with Bored Ape Yacht Club, PUNKS Comic, and gmoney, Adidas Originals co-created one digital asset and put up 30,000 copies of the same item for sale on Dec. 17. Almost 20,000 copies of the Phase 1 NFT have been sold so far.
Related:Adidas Originals to launch debut NFT collection
According to the company, $15.5 million was made during the Early Access mint that had to pause and restart after several hours due to technical issues with Mutant Ape Yacht Club not being able to mint.
This NFT is not a collector’s item but an access token that provides its owner with exclusive access to both virtual wearables in the Sandbox gaming metaverse and corresponding physical products.
In the metaverse, challenging the impossible is the reality. On Friday we landed in the world of Web3 with one of the most widely-distributed NFT drops in history.
— adidas Originals (@adidasoriginals) December 20, 2021
Related:The NFT world is gradually bridging the gap between niche and mainstream
Owners of the NFT could also receive a physical version of the PUNKS Comic Issue 2: X Marks the Drop, a graphic story about all the characters in the collection. The comic is also available separately for purchase on PUNKS Comic’s OpenSea profile. PUNKS Comic’s developer team Pixel Vault reportedly took a portion of the proceeds of the OpenSea sale and put it back into the PUNKS community treasury.
After tweeting about a partnership with Coinbase and showcasing its own Sandbox land plot, Adidas has firmly planted its sneakers in the metaverse with the success of its exclusive NFT drop. Rival Nike has also expanded its digital footprint by partnering with the virtual sneakers and collectibles brand RTFKT, the top trending OpenSea collection at the time of publication.
Sportswear manufacturer Nike announced the acquisition of virtual sneakers and collectibles brand RTFKT. Nike becomes the biggest U.S.-based athletic products manufacturer through this partnership to join the metaverse bandwagon.
A Cointelegraph report from Nov. 02 highlighted Nike’s submission of requests for patenting the words — namesake, swoosh logo and just do it — for use online and in online virtual worlds.” The filing was accompanied by two new job postings for virtual material designers, signaling the company’s intent to enter the metaverse.
However, the new RTFKT acquisition confirms Nike’s interest in delving into the metaverse ecosystem:
RTFKT is now a part of the NIKE, Inc. family. pic.twitter.com/5egNk9d8wA
— RTFKT Studios (@RTFKTstudios) December 13, 2021
According to Nike, acquiring RTFKT will help the company “deliver next-generation collectibles that merge culture and gaming.” John Donahoe, the president and CEO of Nike believes that the move helps accelerate Nike’s digital transformation efforts:
“Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike’s digital footprint and capabilities.”
Supporting this vision, RTFKT co-founder Benoit Pagotto said that “we’re excited to grow our brand which was fully formed in the metaverse.”
Related:Adidas enters the Metaverse with NFT partnerships
On the other side of the world, German sportswear manufacturer Adidas announced entering the metaverse after partnering with nonfungible token (NFT) companies, including Bored Ape Yacht Club, gmoney NFT and PUNKS Comic.
Today we leap Into The Metaverse with @BoredApeYC, @gmoneyNFT & @punkscomic.
It’s time to enter a world of limitless possibilities.https://t.co/LmgtrRn20c pic.twitter.com/40kU8tayrS
— adidas Originals (@adidasoriginals) December 2, 2021
As Cointelegraph pointed out, an article on the Adidas mobile app said:
“The Metaverse is where anyone can express their most original ideas and be their most authentic selves, in whatever form they might take. And thanks to the blockchain [and NFTs], those pioneers can own a piece of what they create.”
Meta, who has also recently rebranded itself from Facebook, welcomed Adidas’ entry as it said “We can’t wait to see Adidas in the metaverse.”
The fan token market has been growing in value this year, surging around $157 million in terms of total market capitalization since June.
According to data from major fan token website FanMarketCap, the market cap of all fan tokens is estimated to amount to slightly over $417 million at the time of writing. This is almost 60.4% up from the overall value of $260 million recorded in mid-June 2021, as Cointelegraph previously reported.
The fan token market’s daily trading volume amounts to $270.2 million at publishing time.
According to FanTokenStats, some of the most-valued fan tokens include Paris Saint-Germain (PSG) and Manchester City (CITY) issued by major fan token provider Socios and based on the Chiliz blockchain infrastructure. While PSG’s market capitalization is valued at just over $49 million, CITY’s market cap is at $38 million.
Binance, the world’s largest cryptocurrency exchange, is also a major fan token player, launching its own fan token platform in October 2021. Running on Binance’s token launch platform Binance Launchpad, the Lazio Fan Token (LAZIO) is among the biggest fan tokens with a market cap of roughly $51 million, according to FanTokenStats.
Socios and Chiliz founder and CEO Alexandre Dreyfus told Cointelegraph that all fan tokens across Socios and Chiliz’s fan token ecosystem have sold for $250 million so far. He predicted that the market size of fan tokens and social tokens will surge up to $10 billion in the next five years.
Fan tokens are a form of digital currency providing holders with access to a number of fan-related membership perks including voting on club decisions, merchandise designs, rewards as well as other fan engagement experiences within sports clubs and music fan clubs.
Dreyfus emphasized that fan tokens are not cryptocurrencies but rather digital assets: “You cannot spend fan tokens to buy something, you can own fan tokens to get fan benefits.” He still noted that fan tokens’ use cases are different for fans and traders. “Fans will hold, traders will trade,” Dreyfus said.
Related:Manchester City officials sign and suspend partnership with mysterious crypto firm within a week
According to the CEO, sources like CoinMarketCap (CMC) and CoinGecko do not correctly reflect the initial price of Socios-issued fan tokens, which is usually around $2 per token. As such, CITY was originally priced at $2 per token instead of $10, which is according to CMC and CoinGecko.
“You can’t see it on CoinMarketCap,” Dreyfus noted, adding that sources like CMC and CoinGecko don’t get fan token offering price but rather capture the listing price only. “Fan tokens are first pre-sold at fixed price during a flash sale before being listed,” he added.
Cointelegraph has had a lot of NFT related news this week from pop culture to sports and gaming. Below is a roundup of stories you don’t want to miss.
Pepsi and VaynerNFT team up
Pepsi launched their Mic Drop genesis NFT collection made up of 1,893 generative style NFTs on the Ethereum blockchain. The number commemorates the year Pepsi was born. Consumers will only have to pay gas fees, and to ensure more manageable fees, Pepsi implemented a waitlist process from now until December 14.
In homage to the brand’s history, the design of the NFTs are grounded in variations of a microphone visual and inspired by iconic Pepsi flavors including classic blue Pepsi, silver Diet Pepsi, red Pepsi Wild Cherry, black Pepsi Zero Sugar and more.
The Pepsi Mic Drop NFT collection was designed by and created with VaynerNFT, a consultancy under the umbrella of the VaynerX holding company. Gary Vaynerchuk, CEO of VaynerNFT told Cointelegraph, “NFTs will change the culture of value creation forever; this is an exciting moment for the brand to build loyalty & bring immense value to its community & fans.”
Additionally, Pepsi is implementing a carbon offset program for the launch of the Pepsi Mic Drop NFT to ensure a net carbon footprint of zero.
1inch and Parts of Four drop Mystery Box
A joint collection of magic and industry by 1inch and Parts of Four will debut as a Mystery Box drop on the Binance NFT Marketplace on Dec. 13. In total, 22,000 NFTs with 31 versions will be minted across 7 levels of sophistication, and offered at 25 BUSD each.
Based on the Parts of Four catalog, the NFT collection of digital jewelry employs an alchemy-based NFT approach. The collection will also be part of a game focused on acquiring and forging rare wearables across P4’s upcoming Greater Metaverse.
The P4 Metaverse expansion will begin with an ERC-20 community token, P4C, and then towards an NFT platform running on the Binance Smart Chain, or BSC. The Parts of Four ecosystem plans to promote interaction with the physical world via embedded tech, AR and bi-directional swaps via the P4 platform.
Tom Brady drops Origins NFT Collection for the holidays
The Tampa Bay Buccaneers quarterback Tom Brady released a 16,000 collectible set on his Autograph NFT platform called “Live Forever: The Tom Brady Origins Collection.”
This collection that represents memories from the beginning of his football career includes a resume he created prior to his 2000 draft selection, a stopwatch, cleats, a jersey from the NFL combine, and more.
This is why we started @Autograph, to turn memories into collectibles that people can hold onto forever. The Origins Collection arrives today for pre season access pass holders and Thursday for everyone else…be ready LFG!! pic.twitter.com/TEGfSNjqIl
— Tom Brady (@TomBrady) December 7, 2021
The catch however is that the NFTs will be a mystery at the time of purchase until Dec. 14 when token owners can unlock them to reveal a collectible in 1 of 5 possible styles and tiers of rarity.
Tezos x Pantone Color of the Year Initiative
Pantone, the global color authority, has chosen the energy-efficient Tezos blockchain to release the Color of the Year 2022 through a digital collection as NFTs.
PANTONE 17-3938 Very Peri, is the Pantone Color of the Year selection for 2022. This year marks the first time a colour has been created specifically for Pantone’s colour of the year designation. Paris-based multidisciplinary artist, Polygon1993, will create artworks inspired by this periwinkle shade to develop a digital representation of the color.
.@Tezos x @Pantone
Pantone announces an exploration of the digital art world with #Tezos x Pantone Color of the Year initiative.
The initiative illustrates how color trends in the digital world are being manifested in the physical world and vice versa. pic.twitter.com/hM5fdBOY8E
— Tezos (@tezos) December 9, 2021
Tezos, with over 50 million transactions in 2021, had an average carbon footprint of just 17 individuals.
Other Nifty News
French gaming giant Ubisoft Entertainment SA is facing backlash from the gaming community after launching its new NFT platform Ubisoft Quartz. Ubisoft’s YouTube video introducing its NFTs got a 96% dislike ratio.
Virtual land sales in the metaverse have been dominated by NFT sales since the beginning of December reaching over $300 million. Of that total, almost a quarter has been for digital land in The Sandbox metaverse, outpacing all other items, art and collections.
The Nation Football League Players Association, or NFLPA, in collaboration with sports betting operator DraftKings Inc., announced the launch of a gamified nonfungible token, or NFT, collection to drop on DraftKings Marketplace during the 2022-2023 NFL season. Starting next year, fans will be able to play NFT-based games featuring their favorite NFL Players, according to the company.
OneTeam, the official media business partner of the NFLPA, helped facilitate the deal with DraftKings, giving them the necessary licensing rights to use the name, image and likeness for active NFL players.
In a statement shared on the Draftkings website, Beth Beiriger, SVP of product operations for DraftKings Marketplace said, “The future of fandom is unfolding in front of us, and few organizations beyond DraftKings are as equipped to capitalize on the increasing intersection between sports and NFTs that will be cornerstones of engagement and entertainment within Web3.”
The Draftkings Marketplace went live this past August with its inaugural Tom Brady NFT collection in partnership with the NFT platform co-founded by Brady himself called Autograph. Besides NFTs, Brady further displayed his backing of crypto by giving a fan 1 BTC for his 600th touchdown pass.
Related:Rams player Odell Beckham Jr. will accept NFL salary in Bitcoin
The announcement suggested that DraftKings’ upcoming NFTs will enable customers to buy and sell collectibles via the Polygon network, and use them within games against other players. The goal of the DraftKings’ NFT experience is to “create authentic connections for avid fans,” according to Sean C. Sansiveri, General Counsel and Head of Business Affairs at NFL Players Inc., the marketing and licensing arm of the NFLPA.
Related:Pro sports leagues are no longer resisting NFTs: Dapper Labs
Last month the NFL also entered a collaboration with Ticketmaster to tie NFT collectibles to select game tickets when purchased, emphasizing the pro sports league’s broad adoption of blockchain technology.
Australian baseball club Perth Heat has announced a partnership with Bitcoin payment processor OpenNode to accept and make payments in Bitcoin (BTC). The partnership allows Perth Heat to pay professional players and staff in Bitcoin.
According to the announcement, the professional sports club will send and receive payments in Bitcoin over the Lightning Network. In addition, the partnership with OpenNode allows the Perth Heat organization to accept Bitcoin payments for sponsorships, merchandise and other revenue streams.
Taking things a step further, Perth Heat has also rebranded itself to be called “the Bitcoin baseball team.”
The club has also listed Bitcoin-branded merchandise on its official website. Showing long-term commitment to mainstream Bitcoin adoption, the announcement stated:
“As part of this sporting world exclusive, Perth Heat will hodl Bitcoin on the club’s balance sheet.”
Steven Nelkovski, the CEO of Perth Heat believes that embracing the underlying values of the Bitcoin protocol “will inspire others to embrace a monetary system that demands value creation to thrive.” According to the club’s “chief bitcoin officer,” Patrick O’Sullivan:
“The club has already established an initial position in BTC to help secure its digital property rights on the world’s most secure monetary network and will continue to reinvest available capital into Bitcoin. The Perth Heat are embracing the reality that the future of money and corporate treasuries will live on the Bitcoin blockchain.”
Related:Australian Senators pushing for country to become the next crypto hub
The Land Down Under has ramped up efforts this year to allow regulated crypto adoption. On Oct. 20, an Australian Senate ommittee called for a complete overhaul of crypto legislation and licensing.
As Cointelegraph reported a few days later, the Australia Securities and Investments Commission also released a guideline that greenlights Bitcoin and Ether (ETH)-based exchange-traded products:
“As of October 2021, Bitcoin and Ether appear likely to satisfy all five factors identified above to determine appropriate underlying assets for an ETP. We expect the range of non-financial product crypto-assets that can satisfy these factors will expand over time.”
A recent survey conducted by Crypto.com also found that Australian citizens are equally keen to explore crypto investments. Out of the polled 2,020 Australians aged between 18 and 59, 26% responded that they would consider giving some away for Christmas or buying crypto-related gifts.
According to Crypto.com general manager Karl Mohan, “Australians are clearly very keen to adopt cryptocurrencies and integrate their use into day-to-day spending.”
This year has seen a number of high profile partnerships formed between the cryptocurrency sector and major sports leagues, teams and individual players. Nowadays players engage with their fans by issuing limited edition NFTs and other perks that are associated with crypto and blockchain technology.
Crypto companies are also making their presence known stitching their names on jerseys, buying stadium naming rights and paying for cleverly placed primetime commercials between game breaks.
One project that has seen a recent surge in interest thanks to its focus in the world of sports and helping fans interact with their favorite teams and players is Chiliz (CHZ), the blockchain network behind the Socios.com fan engagement platform.
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.243 on Sept. 29 the price of CHZ spiked 171% to a daily high at $0.657 on Oct. 31 and recent developments are now pushing the price back towards the swing high.
Three reasons for the growing strength of CHZ include the launch of live in-game NFTs, recent exchange listings for CHZ as well as its newly released fan tokens and the protocol’s rapidly expanding ecosystem of partners.
Live in-game NFT drops
The development that kicked off the current rally was the rollout of the platform’s first live, in-game NFT drop which took place a match between A.C. Milan and A.S. Roma.
This Sunday, history will be made as we release the first ever @acmilan NFT.
Here’s how you can be one of ONLY 100 to own one #ACMNFT | $ACM ⚡️ $CHZ pic.twitter.com/0z1aGyFgAC
— Socios.com (@socios) October 29, 2021
With this design, new NFTs are minted as they happen based on key moments in live matches and then they are dropped to the wallet of fan token holders who correctly predict the outcome of the game.
The announcement that this new method of distributing NFTs was followed by a spike in demand for the token which has continued to build in the following weeks.
CHZ and fan token support
Another reason for the building momentum of CHZ has been the addition of new exchange listings, as well as its newly released fan tokens for clubs like São Paulo FC, AC Milan and Manchester City.
Introducing Manchester City @ManCity Fan Token $CITY on Binance Launchpool! Farm $CITY by Staking #BNB, $CHZ and $BUSD Tokens
In addition to the listings, Binance is also allowing fans to earn tokens from their favorite teams by staking Binance Coin (BNB), Binance USD (BUSD) and CH.
OKEx also announced that it will support tokens from the Chiliz ecosystem and CHZ appears to have benefited from a new listing eToro’s crypto exchange on Nov. 9.
Expanding ecosystem backs the current rally
Ecosystem expansion could be another recent development that is strengthening CHZ’s fundamentals.
More than 80 sports properties announced partnerships with @chiliz x @socios, more than +100 already signed. While improving our product and starting to prepare a global marketing campaign, we focus on building a leading new fan ecosystem (engagement x monetization). #innovation pic.twitter.com/mZKOL6IyDH
— Alexandre Dreyfus (@alex_dreyfus) November 6, 2021
Recently, the platform unveiled a partnership with Kraft Sports and Entertainment which will see the National Football League’s (NFL) New England Patriots and Major League Soccer’s (MLS) New England Revolution join the Chiliz and Socios ecosystem.
This partnership marks the first foray for Chiliz into the NFL and MLS and indicates that the protocol has its sights set on expanding to cover all major sports leagues where there is a demand from fans for more engagement.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for CHZ on Oct. 28, prior to the recent price rise.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
As seen in the chart above, the VORTECS™ Score for CHZ began to pick up on Oct. 27 and reached a high of 70 on Oct. 28, just as its price began to increase 125% over the next two weeks.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.