Chiliz is well-known for its blockchain solutions that revolutionize fan engagement in sports, including fan tokens and interactive engagement platforms via its flagship venture, Socios.com. The platform supports over 80 sport-related fan tokens and has amassed more than 2 million users. Chiliz facilitates team-specific fan tokens for top football clubs such as FC Barcelona, Inter Milan, Juventus, Paris Saint-Germain, and Manchester City, among others.

The Chiliz network employs a Proof of Staked Authority (PoSA) consensus algorithm, allowing smart contract developers, validators, stakers, and other participants to interact with the chain. This system is tailored to cater to sports and entertainment applications, emphasizing brand IP and maintaining project use-case integrity.

Significance of the collaboration

Chiliz’s collaboration with Azuro is a strategic step to access the rapidly expanding on-chain prediction markets. By utilizing Azuro’s well-established infrastructure across EVM-compatible chains, Chiliz aims to enhance its market presence. Azuro, known as the top protocol on Gnosis and the most profitable protocol on Polygon, provides reliable infrastructure trusted by over 25 applications, with transaction volumes exceeding $320 million.

The Azuro protocol enables applications to launch without any initial investments and operational expenses, allowing full focus on user acquisition and monetization. Through the collaboration, Chiliz will be incorporated into the Azuro Protocol, expanding its presence in sports-centered prediction applications. Developers utilizing Azuro can now connect their apps to the Chiliz Chain and conduct transactions using the CHZ token.

“Integrating with Azuro marks a pivotal move for Chiliz Chain to capitalize on the rapidly expanding onchain prediction market. Leveraging Azure’s advanced infrastructure, we’re empowering developers to innovate within the sports and gaming sectors.”— Alexandre Dreyfus, CEO of Chiliz and Socios.com

Azuro and Chiliz are launching a grants program to encourage app developers to build on their infrastructure, aiming to boost the adoption of onchain prediction markets and promote transparency and fairness.

Azuro is the onchain predictions layer. It consists of modular tooling, oracle, and liquidity solutions for EVM chains to host powerful prediction and gaming apps.

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By creating a trustless and transparent system using a smart contract, Azuro allows users to become less reliant on a centralized platform and use predetermined network functions to ensure their bets are made possible.

The combination of traditional sports betting and prediction markets allow Azuro an edge over existing market features. Azuro takes the network a step further and integrates NFTs and GameFi mechanics into the betting and prediction markets. Moreover, Azuro is the first protocol layer to tackle the gambling industry and create more democratized odds using oracles.

SupraOracles will aid Azuro in initiating conditions on the smart contract and using real-life links to generate a winning or losing results for the players. SupraOracles’ decentralized oracle network will ensure data is accurately provided to the network. The Azuro ecosystem can easily access match and game data, betting odds for standard e-sports, and GameFi features.

Thus, SupraOracles will enable the sports betting industry to be less reliant on bookmakers and retain ownership of their funds. This is done by relying on smart contracts run by Azuro. With the first independent bookmaker launching a frontend for Azuro, SupraOracles will start providing match and odds metadata to a complete decentralized betting experience.

About SupraOracles

SupraOracles bridges the gap between traditional financial markets and the web3 world. Our goal is to empower the developer community by offering a robust cross-chain oracle. SupraOracles connects real-world data to public and private chains, empowering interoperable smart contracts that secure financial markets’ future. It also provides developers with a toolkit for developing, deploying, and managing data applications with greater performance, agility, and robustness.

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About Azuro

Azuro is the base layer for decentralized betting.

Apps built on top of Azuro can now provide a viable decentralized alternative to traditional online bookmakers. As a result, Azuro envisions a rich, fun betting environment with decreased cost of service to players, full transparency, community-run, and a commitment to responsibility.

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Azuro is proud to announce they have backing from some of the most experienced names in web3 including early seed round investors AllianceDAO, Arrington Capital, Ethereal Ventures, Delphi Digital, new joiners Hypersphere, Quiet Capital, Formless Capital, and great crypto teams who participated in both rounds like Gnosis & Merit Circle.

The recent round of $4M funding came from a variety of areas in web3 including GameFi/Metaverse (Merit Circle, OPGames, and PathDAO) web3 infrastructure/products Gnosis & Mask Network, plus venture capitalists and investors Hypersphere, SevenX, Red Beard Ventures, NxGen, Formless Capital and Quiet Capital, and angels like Victor Ji, co-founder of Manta Network.

This provided the validation they needed for their previous efforts. It was key for them recently launch Azuro’s mainnet successfully on Gnosis Chain.

“Delivering on our 2-pronged mission to disrupt traditional online betting with a fairer, more transparent, and more fun decentralized alternative, and to build a betting overlay for the Metaverse is impossible without strong support. We look forward to working together with our investors and partners as we progress further on our path!”— Azuro contributor Paruyr Shahbazyan

Additional Information

Azuro protocol takes aim at traditional betting. It is also fraught with issues of lack of trust and transparency between betting operators and players.

However, with the right approach blockchain & smart-contract tech is now capable of supporting decentralized betting at scale, and this leads to delivering meaningful improvements for players and other participants in the new decentralized betting ecosystem.

Azuro’s fresh take on prediction markets includes the introduction of a new approach (inspired by how pooled liquidity helped scale DEXs, like Uniswap, as well as lending protocols, such as Aave) with a brand new liquidity pool design called the Liquidity Tree.

“Betting markets are one of the few applications where crypto was always supposed to shine. So far though, none have been able to crack the nut of bootstrapping liquidity for popular betting disciplines. We believe Azuro’s team and their Liquidity Tree technology can finally make the promise come true.”—Jack Platts, from Hypersphere 

ABOUT Azuro
Azuro is the base layer for decentralized betting. The layer where betting markets are prices, creates, and made liquid. This is achieved through mixing 3 of crypto’s main primitives. Prediction Markets, NFTs, and DAO governance, as well as a new Liquidity Pool design, called the Liquidity Tree.

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