Chiliz, a global company that deals with blockchain for sports and entertainment, has launched its incubator and accelerator program, Chiliz Labs, with the support of Jump Crypto. The $50 million program intends to invest in early-stage blockchain projects that leverage the Chiliz blockchain for sports and entertainment and the Socios.com partner network. We are pleased to announce the launch of our $50M USD incubator and accelerator programme Chiliz Labs! Backed by @jump_ Chiliz Labs will foster viable and innovative early-stage blockchain projects looking to leverage the new Chiliz blockchain. ⚡️ $CHZ — Chiliz ($CHZ) - Powering Socios.com ⚡ (@Chiliz) March …

Indian authorities once again demonstrated their tough stance on cryptocurrencies with a preemptive ban on crypto advertising and sponsorships in the local women’s cricket league. As reported by Planet Sport on Feb. 14, the Board of Control for Cricket in India (BCCI) sent a 68-page advisory to the Women's Premier League teams, specifying the activities which couldn’t be advertised. In the document, cryptocurrencies were mentioned among the gambling and tobacco industries: “No franchisee shall undertake a partnership or any kind of association with an entity that is in any way connected/related to an entity that is involved/operates, directly or indirectly, …

Small esports tournament organizers have started dabbling in blockchain tech to host tournaments and distribute prize pools. However, don’t expect to see it in the big leagues just yet, says an investor. Esports, or electronic sports, is a form of organized competition via video games. Players sometimes referred to as esports athletes usually compete for prize money either individually or as a team. Dave Harris, managing director of esports investment firm Guinevere Capital, told Cointelegraph that he has begun seeing blockchain being used in amateur gaming competitions. In his opinion, however, it will take more time before the big titles …

In his 2017 book, What We Think about When We Think about Soccer, English philosopher Simon Critchley elucidates what it is about soccer that can give it such a hold over people. There are the social aspects, the sense that supporters share a heritage of moments lived through together. But more powerful than that, perhaps, is the way the experience of the game transforms the experience of the everyday. With the crown jewel of sporting competitions already heating up, blockchain network Transient is introducing a revolutionary approach to the traditional sportsbook. The Transient “Splash Sports” dApp, has replaced the bookmaker-based …

While the GameFi sector has flourished of late, critics have noted that despite the increasing amount of titles being released, when it comes to games offering players unique and captivating gaming experiences, the industry is still lacking. Web3, blockchain-based games often struggle to offer gamers immersive experiences that match up with those put forth by the more traditional gaming industry. Instead, much of the effort is focused on the economic side of things. The result is that players are often given little more than dressed-up staking protocols. Aether Games Inc. is dead set on reversing this trend and injecting some …

You can now play Solitaire, Snake, and even Counter-Strike to earn Satoshis, a tiny fraction of Bitcoin (BTC). Cointelegraph spoke to executives at Thndr Games, a play-to-earn (P2E) company built around Bitcoin, and Zebedee, a gaming platform that will “Transform gaming with the power of Bitcoin.” Thanks to the Lightning Network (LN), a layer-2 payment solution built on top of Bitcoin, instant microtransactions of Sats can quickly pay out to gamers across the globe. “This genuinely fixes a need in gaming,” Ben Cousens, chief strategy officer at Zebedee, told Cointelegraph. Zebedee offers Bitcoin and LN support for popular games such …

Bitcoin (BTC) has been attributed as the most prominent blockchain use case, showing the technology’s prowess in successfully delivering an immutable and truly decentralized ledger over the past 13 years. Adding to the years of innovations since then— that saw the introduction of altcoins, nonfungible tokens (NFT), decentralized finance (DeFi) and more, a study conducted by fintech giant Deloitte highlighted the untapped potential of the crypto ecosystem to open up newer markets for the sports industry. Fan tokens and NFTs were first introduced to the sports industry to increase fan engagement via collectibles and voting mechanisms. However, Deloitte, one of …

The cryptocurrency community has always put an emphasis on decentralization and globalization. Therefore, it shouldn’t come as a surprise that a number of crypto companies are sponsoring Formula 1 (F1) racing teams in an attempt to further connect with audiences across the world. Research by global analytics company Nielsen Sports found that Formula 1 has the potential to reach about one billion fans globally this year, with the 16–35 age group accounting for the biggest share. The appeal of F1 is clearly on the rise, and cryptocurrency companies are jumping on board to demonstrate their presence. To put this in …

COVID-19 brought many things to a halt, motorsports included. Although disruptive, the resulting digital reality boosted the sims racing experience, a reality driven by popular drivers now making an experience in virtual events. This list includes Formula 1’s Virtual Grand Prix, The Race: All-Star Series and eNASCAR featured on ESPN, FOX and other major TV broadcasters. Although this initial frenzy has since subsided with the reintroduction of live races, sim-racing has proven beneficial in scouting new talent and inspiring entirely new communities by blurring the line between the real and virtual world. With the world transitioning from pandemic to endemic, …

Sports and esports fans will soon see more crypto ads during games as Terra has partnered up with the Washington Nationals MLB team and crypto exchange Bitstamp is now partnered with esports organization Immortals. Terra (LUNA) is the 10th largest cryptocurrency by market cap and the blockchain that produces the UST stablecoin. The project is governed by a decentralized autonomous organization (DAO), which is now an official partner of the Washington Nationals. The Terra community committed $38.2 million in UST over the next five years to secure the deal. The partnership was proposed by Terra founder Do Kwon on Feb. …

As it currently stands, there is a lot of hype around the metaverse concept. While market excitement exists, fundamental considerations are still being overlooked, namely, the desire for others to be a part of it. Namely, the desire for others to want to be a part of it. This leaves an important question on the table: how can pioneers in this industry excite people enough to want to spend a substantial amount of their time and money in a digital format. Would the metaverse need to be futuristic in context, closer to the real world, composed of online avatars or …

Cryptocurrency wallet Exodus has officially integrated with SportX, an online sports and crypto betting platform, giving users the ability to wager on esports games through smart contracts executed on the Polygon network. The partnership, which was announced Tuesday, gives Exodus’ more than 1 million users access to SportX’s decentralized betting exchange, where they can place bets on a wide range of sports and esports games using cryptocurrency. The minimum bet amount is $5, denominated in USD Coin (USDC), which can be sent directly to the Exodus wallet or exchanged from any of the 138 cryptocurrencies it supports. All markets created, …