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20 Jan 2023

Introducing Algorand and Chiliz

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This article is not intended to be financial, investment or trading advice. This article is for information and solely for education purposes. It does not protect against any financial loss, risk or fraud.

Algorand (ALGO) and Chiliz (CHZ) are now on Skrill

Skrill is pleased to announce that both Algorand (ALGO) and Chiliz (CHZ) are now available to trade with our digital wallet.

Here's what you need to know about the two cryptocurrencies.

What is Algorand?

Algorand is a Layer-1 blockchain that prides itself on its high performance and sustainable technology. According to their CEO Silivio Micali, Algorand is aiming to become the first carbon-negative blockchain in the world. Here’s what he has to say about their mission:

Silvio Micali with hands crossed

Algorand is transforming economic models and economies of all kinds. Its high–performing Layer-1 blockchain is unparalleled for bringing fast, frictionless, and inclusive technologies to everyone. With an extraordinary commitment to interoperability and consistent delivery, our sustainable technology powers more participation, transparency, and efficiency for all. As the technology of choice for 2000+ global organizations, the Algorand ecosystem is transforming the next generation of financial products, protocols, and exchange of value.”

Whilst the Algorand Foundation has a strong commitment to being a high performing Layer-1 blockchain, they have also pledged to be “the Greenest Blockchain with a Carbon-Negative Network Now and in the Future. An already highly energy-efficient network that partners with ClimateTrade to set the industry standard for blockchain sustainability.” Learn more here.

man in white shirt working

Why list ALGO?

Last year, the Algorand foundation announced their partnership with FIFA for the Qatar 2022 World Cup. When asked about the scope of the partnership between FIFA and the Algorand foundation, a FIFA spokesperson said that:  

The agreement means Algorand will become the official blockchain platform of FIFA and provide the official blockchain-supported wallet solution. As per the sponsorship agreement, Algorand will be a FIFA World Cup Qatar 2022™ Regional Supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023™ Official Sponsor.

Beyond this, the new FIFA NFT platform called FIFA+ Collect is also powered by the Algorand blockchain and can be used by fans around the world to collect “moments” in time from previous editions of the World Cup. In their own words: 

Here at FIFA+, we decided that it’s time to share our amazing archive to enable fans to own unforgettable moments and epic editions from the FIFA archives and digital collectibles. So, we launched FIFA+ Collect. A once-in-a-lifetime opportunity to build a personal digital collection and be part of the richest and most authentic football legacy of all time - The FIFA World Cup™.”

The Algorand Foundation is looking to make a significant impact across both the sporting world and in the fight against climate change. Looking to find out more? Read all about Algorand, their vision, mission and more on their website.

So, if you are keen to start trading ALGO, open a Skrill account and get started. We’d love to hear more about your crypto journey with Skrill, so don’t forget to follow us on Twitter (@Skrillcrypto) and let us know your story there too.  

What is Chiliz?

supporters at match smiling and cheering

Chiliz (CHZ) is an ERC-20 token that runs on an Ethereum-based Chiliz blockchain for sports and entertainment. The token powers the blockchain-based fan engagement and rewards platform Socios.com.  

On the platform, fans can purchase and trade branded fan tokens and participate, influence, and vote in club-focused surveys and polls. The token serves as currency that allows users to purchase NFTs at Chiliz’ Socios fan token marketplace and aims to foster a blockchain ecosystem built for sports and entertainment. 

Today, CHZ is trading against popular fan tokens such as AC Milan, Argentina and Portugal.  

According to CoinMarketCap, “perks allow fans to feel more involved in the club they already support, and they add an extra level of pride and prestige as their fan tokens will likely increase in value as the club grows over time.Learn more here. 

Sports fans who hold CHZ can unlock a whole host of benefits and feel more connected to their team since they are directly asked to participate in club decisions. With the football season well underway, we felt like it was the perfect time to launch CHZ on our digital wallets and give you the chance to feel like a super fan too.  

Try crypto with Skrill today

  1. Buy and sell over 40 different cryptocurrencies, now including Polkadot
  2. Set conditional orders to control your trading
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Cryptocurrencies are unregulated in the UK. Capital Gains Tax or other taxes may apply. The value of investments is variable and can go down as well as up.

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