Chiliz partnership with BRZ expands “SportFi” ecosystem, says Bruno Pessoa

Chiliz, a blockchain platform specialized in the sports universe, has partnered with BRZ, a stablecoin controlled and issued by Transfero. With this, fans will have facilitated access to numerous products and services aimed at the segment.

The Fan Tokens market has been growing over the years, according to the report The Global Fan. Approximately 86.7% of football fans have some level of interest in a foreign club, while 33% have a foreign club as their main team. This scenario explains why 24% of those interviewed would like to have access to more loyalty and rewards programs for foreign fans.

In this sense, major clubs and sports entities are developing their own blockchain solutions to attract more fans and offer more personalized experiences.

This is the case of Chiliz, a blockchain focused on the sports sector. The company has just created a partnership with Transfero, making BRZ a payment option. This is detailed by Bruno Pessoa, Brazil country manager of Chiliz, in this interview with PanoramaCrypto. Check it out.

Can you comment on Chiliz and its business model?

Chiliz is a specialized blockchain platform focused on the sports industry. It operates on its own Layer 1 blockchain and offers Fan Tokens as utility tokens. These tokens are associated with over 70 sports entities, including Formula 1 teams, football clubs, and others. Fans can purchase Fan Tokens on the socios.com platform. Owning Fan Tokens grants them a small stake in influencing the brand development of their favorite clubs and leagues, along with other exclusive benefits.

Why did Chiliz choose BRZ as a payment option? 

Transfero (issuer of BRZ) is one of the five largest stablecoins by volume. Knowing that there are so many people interacting with this stablecoin certainly helps with the accessibility of the ecosystem we are building. We know that we are still very much at the beginning of everything, that we have many things to build, including partnerships that help us bring more accessibility and simplicity to this moment of adoption. This is crucial to scale the business. Looking at the founding team as well, the credibility that Transfero brings helps to provide a healthy and transparent environment for creating businesses focused on the sports universe.

What impact does the adoption of BRZ, issued by Transfero, have on the Chiliz user experience? 

Image: Chiliz

I believe that BRZ significantly simplifies the user’s entry into the SportFi ecosystem we’ve built. When we consider the average user, they often find themselves in a highly volatile environment due to the nature of cryptocurrencies. BRZ, on the other hand, provides users with a sense of security when acquiring assets, as it’s not subject to the same level of volatility. This allows fans to experience all the benefits of owning a Fan Token from their favorite club or league with greater financial confidence. Ensuring the security of all parties involved, along with the ease of use facilitated by Transfero and BRZ’s infrastructure, is paramount.

How does this integration streamline payments and contribute to the broader adoption of blockchain in sports?

Many new users are still unfamiliar with this universe, whether they are sports fans new to crypto or crypto users unfamiliar with the concept and proposition of Fan Tokens. Therefore, our systems and interfaces have been optimized to provide a familiar experience. After all, it’s more important to understand that these services are simple to use and built with security, efficiency, and user experience in mind, rather than delving into the underlying infrastructure. Our mission is to continually expand accessibility and highlight the benefits users gain by being part of this community.

How do you assess the structure of the blockchain market in the sports sector and how should this Chiliz initiative contribute to the advancement of this ecosystem?

Everything is focused on adoption: the more we can facilitate access to this ecosystem, the better. Eventually, people will have quick access to NFTs, game tickets, Fan Tokens, and other digital products. Additionally, clubs will have more tools to get closer to their global fan base: as pointed out by the Global Fan Report, there is still a lot of opportunity for this, especially for Brazilian clubs. There needs to be a simplified onboarding process, similar to what the traditional market has been doing for some time to increase adoption to its full potential. Chiliz offers infrastructure so that the best of both worlds is available to developers, providing natural and integrated experiences. The simpler it is, the fewer barriers there are, the more value we can provide to our customers.

How does Chiliz view the evolution of the current regulatory landscape for cryptoassets?

Looking at the Brazilian market, we believe it’s heading in a very interesting direction compared to other countries. We have good prospects as we’re leading positive conversations about digital assets with regulators and industry associations. Although the market is not fully regulated yet, we position ourselves as a company fully in favor of regulations. This brings legal security not only to entrepreneurs but also to users. In short, I believe the market will strengthen with the regulatory scenario that is being built, and we want to be at the forefront of this.

The competition in the Fan Tokens market is big. What differentiators does the new partnership bring to increase competitive advantages?

We have achieved a significant market share. We have built a community through relevant names in the sports industry, such as Manchester City, Flamengo, Paris Saint-Germain, and UFC. When we have a stablecoin natively for the buying and selling of these digital assets, we can focus on attracting more and more people in an organic and accurate way. Having BRZ allows the ecosystem we are building to become stronger and stronger, and with that, other developers and entrepreneurs can interact with these solutions or even create their own. At the end of the day, everyone wins.