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Cryptocurrency world’s sports-focused digital currency Chiliz (CHZ) made a significant announcement today. Chiliz, a SportFi company, has established a strategic partnership with Grintafy, a career development platform for football prospects in the Middle East. Following the development, there was a 3% increase in the price of CHZ. Let’s look at the details.
Chiliz (CHZ) Strikes a Critical Deal in the Middle East
The new deal will make the pioneering Chiliz Chain and Socios.com platform a strategic investor and partner of the leading career development platform for football prospects in the Middle East.
With over 2 million users, Grintafy is the largest talent discovery platform in the region and has received significant investment from Saudi Aramco Waed Ventures.
The platform has also established partnerships with leading football organizations in the Middle East, as well as clubs in the world’s most prestigious leagues including LaLiga and the Premier League, and with elite academies globally.
The Main Reason for the Chiliz Partnership
Grintafy was selected as the Sports Technology Initiative of the Year by Gitex. The company will now leverage Chiliz’s technological infrastructure, ecosystem, and expertise for various use cases such as player ratings, rankings, and performance certificates to facilitate its transition to Web3 using Blockchain.
The partnership will enable Grintafy to utilize Chiliz’s unique technological infrastructure, ecosystem, and expertise to accelerate its Web3 transition and international growth. The partnership will also contribute to the advancement of Saudi football on the international stage, with Chiliz Football Commercial Director Daniel Maglietta playing a key role as an advisor.
The investment in Grintafy signifies Chiliz’s first step into the rapidly evolving Saudi football scene, aiming to connect major European football teams with Saudi talent and enhance opportunities in the industry. The deal also promises mutual benefits by offering Grintafy’s expertise and network in Saudi Arabia to Chiliz’s more than 60 sports partners.
Following this development, looking at the cryptocurrency CHZ price, we see that it is trading at the level of $0.116.
