Chiliz is the leading digital currency for sports and entertainment from the Malta-based fintech provider. It operates Socios, a blockchain-based sports entertainment platform that allows users to participate in the management of their favorite sports brands. Socios.com’s many fan tokens are examples of this. For sports clubs and associations, fan tokens offer a way to connect with fans and unlock new revenue streams.
For example, fans can influence club-related decisions by taking part in polls and polls, such as whether or not to wear the captain’s armband. The company aims to bridge the gap between active and passive fans. Chiles has developed partnerships with some of the biggest sports organizations in the world, including FC Barcelona, Manchester City, Juventus Turin and Paris Saint-Germain. Also works with UFC and gaming organizations. By purchasing CHZ, fans gain access to various fan tokens and directly own shares in their club.
What is Chiliz (CHZ)?
Chiliz is the Malta-based fintech provider’s leading digital currency for sports and entertainment. It operates Socios, a blockchain-based sports entertainment platform that allows users to participate in the management of their favorite sports brands. Socios.com’s many fan tokens are examples of this. For sports clubs and associations, fan tokens offer a way to connect with fans and unlock new revenue streams.
For example, fans can participate and influence club-related decisions through polls and polls, such as whether to wear a captain’s armband. The company aims to bridge the gap between active and passive fans. Chiliz has developed partnerships with some of the biggest sports organizations in the world, including FC Barcelona, Manchester City, Juventus Turin and Paris Saint-Germain. Also works with UFC and gaming organizations. By purchasing CHZ, fans gain access to various fan tokens and directly own shares in their club.
Who Are the Founders of Chiliz (CHZ)?
Chiliz was founded by current CEO Alexander Dreyfus. Dreyfus has over 20 years of experience building and growing web-based companies. For example, before founding Chiliz in 2017, he developed online poker projects such as Webcity, an interactive travel guide, Winamax, and Chilipoker.
His goal with the company is to “work harder than ever to make Fan Tokens the ultimate fan engagement tool and a powerful new revenue stream for the sports industry.” This has been highlighted by the aggressive expansion of fan tokens signed by many of Europe’s football powerhouses, but smaller clubs.
Chiliz (CHZ) Token Price Prediction
| Name | Price | 24H (%) |
|---|---|---|
 Tether (USDT) | $1.00 | -0.16% |
 Chiliz (CHZ) | $0.118550 | -1.34% |
What Makes Chiliz (CHZ) Special?
Each sports organization using Chiliz technology has a limited supply of fan tokens to offer in the initial FTO (fan token offering). These tokens are offered on a first-come, first-served basis, and the opening price and fully diluted market capitalization are disclosed in advance by Chiliz. Native CHZ tokens are used to purchase fan tokens and serve as the platform’s internal currency. Fans can then vote on the Socios platform with their fan tokens made possible by smart contracts. Clubs determine the extent of their influence on fans. Decisions can range from new jersey designs to deciding how teams will play in exhibition games.
Chiliz pioneered the direct involvement of grassroots sports fans in the decision-making process of clubs and organizations. The company is constantly creating new ways to engage its fans with the creation of Chiliz Blockchain Campus, a privately owned crypto incubator dedicated to accelerating the adoption of blockchain technology across Asia and Europe. The company expects to have 80 to 100 teams on its network by the end of 2021 but estimates that this is about 10 percent of capacity.
How Many Chiliz (CHZ) Coins Are in Circulation?
CHZ has a total supply of 8.8 billion, which was produced at launch in October 2018 and distributed to early donors without being publicly traded through the exchange. The token distribution is as follows.
- 15% – Strategic purchases
- 5% – teams
- 7% – Seed Investors
- 3% – Advisory Board
- 15% – Marketing
- 20% – Customer base reserve
- 34.5% – Token Sale
Initially, CHZ appeared as an ERC-20 token, but later it was designed to be BEP-2 compatible, and Binance assumed the role of Launchpool for the issuance of fan tokens as part of a strategic partnership. CHZ is also available on the Tron blockchain as a TRC-20 token.
How Is the Chiliz Network Secured?
CHZ is available on several blockchains, including Ethereum, Binance Smart Chain, and Tron. Fan Tokens are created on the Socios sidechain through a proprietary crowd control mechanism, so fans are in a protected environment and can only vote on publicly audited polls.
Sidechains use a consensus mechanism to assert authority. Authentication is typically used by private organizations with closed blockchains and is only used by users of the ecosystem. It is less centralized than other consensus mechanisms, but easily scalable and high security makes it an ideal choice for sidechains. CHZ tokens have been audited by Certik.
Where to Buy Chiliz (CHZ)?
CHZ is available on Binance, Huobi, Coinbase, FTX and many other exchanges.