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Chiliz, the company behind the Socios platform and CHZ token that has made a name for itself in the world of cryptocurrency, has formed a partnership with Animoca Brands, a major player in the blockchain and gaming industries. Following the partnership announcement, the price of CHZ has seen an expected increase.
Partnership Between Chiliz and Animoca Brands
Chiliz, the company behind the Socios platform and CHZ token, which is closely followed by football fans, has announced an important partnership. Chiliz has partnered with Animoca Brands, a company active in the blockchain and gaming industries, to develop the SportFi ecosystem. With this collaboration, Chiliz aims to expand and enhance the SportFi ecosystem, benefiting from Animoca Brands’ expertise.
Partnerships established for cryptocurrency projects generally involve two or more companies or projects coming together to collaborate. These partnerships can be realized for various reasons and offer various advantages such as technology integration, marketing and business development, innovation and growth, and community expansion for both parties.
CHZ Price Rises Following Partnership Announcement
Chiliz’s partnership with Animoca Brands, known for its mobile games, NFT-based games, and other digital asset-based projects, has triggered an increase in the price of CHZ token.
Prior to the partnership announcement, CHZ was trading around $0.083, but it surpassed the $0.085 threshold with an increase of over 3% after the announcement. The developments resulting from the partnership between Chiliz and Animoca Brands could have a positive impact on the price of CHZ, which is currently the 72nd largest cryptocurrency with a market cap of $646.5 million in the long term.