Chiliz, the blockchain-based sports activities token that enables followers to personal tokens tied to respective groups, has validated the genesis block of its new layer-1 blockchain, in keeping with a weblog submit. The Chiliz blockchain is EVM-compatible (Ethereum Digital Machine) and can concentrate on non-fungible tokens (NFTs), Play2Earn video games, and Watch2Earn sports activities occasions in addition to reside occasion ticketing funds. The Chiliz token (CHZ), which presently has a market capitalization of $1.13 billion, is alleged to be the “gas” for the newly-released blockchain. Token holders will obtain rewards for staking (delegating) on the community. It surged by as a lot as 20% within the minutes following the announcement.