Chiliz, a blockchain provider for Fan Token creators, plans to invest $30 million over the next three years in GameUsed, a new B2B technology service that authenticates and enhances sports memorabilia.
GameUsed.com provides solutions for teams and companies looking to bring ownership of memorabilia into the Web3 environment via NFTs. Teams and businesses will also be able to access Chiliz fans on Socios.com, his token platform.
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GameUsed’s technology allows Chiliz to upload their keepsakes to the Web3 environment and store them on the blockchain. Socios.com will act as the native marketplace for all NFTs created by GameUsed, non-exclusively leveraging the platform’s built-in audience. If an end-user redeems her NFT, GameUsed.com will provide direct logistics and technical support on behalf of the customer at the point of sale or delivery.
Chiliz and Socios.com CEO Alexandre Dreyfus said: Explained in an exclusive interview on Zoom.
The $26 billion sports memorabilia market is growing, driven in part by the rise of NFTs, and is expected to reach $227.2 billion by 2032. market decoding.
“Sports Collectibles is a network effects business, and the more we co-locate, the more value we can create for both the fans and the entity itself,” said Dreyfuss. “So we are looking to invest in technologies and companies that can expand our network by offering services.”
GameUsed is not the first technology investment for Chiliz. In August 2022, Malta-based Chiliz spearheaded the club’s Web3 strategy with his $100 million investment in Barça Digital Entertainment, the digital content creation and distribution hub of FC Barcelona.
“We believe blockchain technology will bring new ways for sports teams and businesses to provide ownership and engagement to their fans,” Dreyfus said. “And by introducing blockchain authentication and distribution to sports memorabilia through GameUsed.com, we are taking an important step in our offering.”
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