Chiliz, or the CHZ token/$CHZ, is a digital currency popular in sports and entertainment. In addition to being Socios.com’s official cryptocurrency, it is also a utility token on the Ethereum blockchain. Interested in learning more about the Chiliz token? Keep reading.
What is Chiliz?
Chiliz was established in Malta in 2018. Chiliz’s premise is to empower teams to monetize a global fan base. As a result, fans can engage with their favourite sports teams in new ways.
The Chiliz team has secured $66 million through private placement and is backed by some of the world’s largest blockchain companies. These include Binance, OK Blockchain Capital and FBG Capital.
It is now a multinational company that is leading a generational shift in the sports industry via Fan Tokens, as well as the Socios.com fan engagement and rewards app. 8.8 billion $CHZ or Chiliz – the company’s eponymous digital currency – were generated in 2018.
Since its inception, the company has partnered with the world’s leading sports teams. It also has offices in Spain, Malta, France, Turkey, Brazil and South Korea, and an international team that includes some of crypto’s brightest minds.
Chiliz’s CEO – Alexandre Dreyfus – is also the CEO of Socios.com. He is an entrepreneur with years of experience in the sports and gaming industries. He is also the founder of Webcity, Chiligaming and Winamax. Dreyfus is supported by his team, which includes Chief Operating Officer Emma Diskin (ex-Betsson Group and Camelot UK Lotteries) and Chief Strategy Officer Max Rabinovitch (ex-ComboApp Inc and Intersog).
$CHZ: The token of Socios.com
Chiliz ($CHZ) powers Socios.com. Socios.com is essentially a consumer-facing, blockchain platform for fan engagement and fan monetization of sports teams. The platform includes top teams, such as FC Barcelona, Manchester City, Paris Saint-Germain, Juventus, AC Milan, AS Roma and Atletico Madrid. Furthermore, in 2021, more than 120 teams joined Socios.com – including 25 NBA teams.
Socios.com and Chiliz have an ecosystem worth $3 billion, with $1 billion traded on major exchanges a day. The Fan Token market cap is $350 million with $50 million traded every day. In 2021, Socios.com paid out $260M to the sports industry.
The price of Chiliz coins skyrocketed throughout 2021. Its popularity increased exponentially and it hit an all-time high of $0.8915 on March 13, 2021.
A fan-centric platform
The Chiliz token is unique in that it enriches fan interaction. This feature allows teams and leagues to monetize fan demand and interact with fans via a blockchain-based solution.
Traditionally, regular fans had little or no say when it came to the team’s organization. Fans were passive consumers, and their relationship with their favourite teams was largely transactional.
Chiliz harnesses fans’ enthusiasm and enables fans to participate in the running of their favourite team. By investing in their favourite team using a CHZ token, fans earn voting rights. Through Fan Tokens, fans can direct top-level management decisions, as well as own small pieces of the teams they love.
Is it worth investing in Chiliz?
According to Wallet Investor, the forecast for 2022 is $0.443. In five years, the coin could be worth $1.485. DigitalCoinPrice also supports a positive $CHZ price prediction. According to this site, the token will be worth about $0.30 by March 2023, reaching an average of $0.80 in 2029. Gov.capital also predicts that the coin could reach $5.328 in March 2028. However, other analysts are not so positive.
As always, the market is highly volatile and crashes do happen. Therefore, we always recommend that you do your own research before investing in any cryptocurrency.