Investing in Chiliz (CHZ) – Everything you Need to Know
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Table Of Contents
What is Chiliz (CHZ)?
Chiliz is an endeavor to bridge and strengthen the passive relationship between top sports, sports clubs, esports, and their global fans. Chiliz is a subsidiary of Malta-based Mediarex Group, a global sports and entertainment organization founded in 2006. This company is on a mission to reshape how the world interacts with the digital world. It believes that if blockchain technology becomes a part of daily lives in the real world, its full potential can be realized.
The Chiliz team has been working on the product idea since 2016. The team began actively working on the project in early 2018. In October 2020, after innovating and building for 2+ years, the team generated 8.8 billion Chiliz tokens ($CHZ), which is the native token. CHZ token is a digital currency that is used to fuel the world’s first scalable fan engagement and reward app.
The brains behind Chiliz is Alexander Dreyfus, the current CEO of the company. He has co-founded multiple other technology companies. It is speculated that he developed a keen interest in sports engagement when he co-founded Winamax in 2004, the first French online poker room and sports betting website. Now, the Chiliz team comprises 80+ professionals across 27 different nationalities. With Chiliz, you can become an active participant in crucial sports club decisions through exclusive polls and ratings executed on the platform.
Through constant innovation, Chiliz is providing solutions within sports and esports organizations. It is transforming the connection between global fans and their favorite sports teams and players. Now, fans are not only spectators but also active contributors to their favorite sports clubs.
In 2018, the organization launched an exclusive platform (Socios.com) for the sports and entertainment industry. It has brought cryptocurrency right to the heart of mainstream sports culture. With Socois.com live, the company has further expanded its vision for an impeccable fan experience.
How Does Chiliz (CHZ) Work?
Chiliz tokens or $CHZ is used to purchase Fan Tokens generated by sports clubs. A user can use these Fan Tokens to participate in exclusive polls that drive important club decisions. You also get a reward for active participation. It is for the first time that popular sports clubs are tokenizing.
Currently, there are 8.8 billion $CHZ in supply. Among which around 34.5 percent are for sale and pre-sale. Userbase reserve consists of 20 percent which is used to monitor operations and developing the Socios.com platform. The trading pairs for CHZ include USDT and BTC. Users can actively exchange CHZ with Fan Tokens and participate in the blockchain platform.
The company developed the Socios platform built on the Chiliz blockchain infrastructure, and that is where the native token $CHZ operates. This sports fan engagement platform hosts various polls that provide the latest news and closes the gap between fans and sports clubs.
It has an exclusive mobile application for operation. You only need to download the app from your Android or iOS app store, create and verify your account, fuel your account with $CHZ, exchange $CHZ with Fan Tokens, and participate in polls launched by teams using these tokens. By active participation, you have the opportunity to win many amazing prizes.
The prices of the Fan Tokens value can go either up or down, and coin holders are free to trade them. To maintain its exclusivity, each Fan Token is limited in number – you can own a share of influence in the team.
Chiliz has partnered with leading football clubs, including FC Barcelona, Juventus, Manchester City, Atletico Madrid, and many more. Innovations like Token Hunt similar to PokemonGo for sports teams, make the App more engaging and user-rewarding.
What are the Chilizen Projects?
There are four active projects under the Chilizen project’s catalog. All these projects are focused on tokenizing, empowering, and connecting global fans to popular sports clubs and esports organizations.
The four projects are listed below:
This project was launched to maintain transparency and provide a one-stop platform to monitor prices, charts, volumes, statistics, and market capitalization of Fan Tokens. The sole purpose of this project is to improve the readability of information collected from Socios.com and the company on its website.
The company believes in the exponential growth of blockchain technology in the mainstream sports arena. It is driven by the passion to bring ready information in the form of in-depth analysis to sports and entertainment fans. It has also made clear that it works autonomously. Thus, it has no ties to the Chiliz tokens or Socios.com.
This website directs Fan Tokens-related information in real-time. The site carries information like market capital overview, top gainers daily, FTOs (Fan Token Offerings), Overview of Fan Token Market, Blockchain data, order book depth or liquidity, and distribution supply.
This platform simplifies information about everything the company is doing. For example, the current partnerships and developments, supported exchanges, Chiliz token pairs, and many more. The interesting thing about this platform is that it is completely powered by Chiliz Token.
FanMarketCap.Com: This website is made by Chilizens for Chilizens. Though, it is not affiliated with Chiliz or Socios. The website showcases real-time information about each fan club performance in the market, current price, and market capital. Apart from football, it also tracks the latest happenings UFC. But it has not yet joined the revolution.
What is the Valuation of the Chiliz and Socios Platform?
A mission thrives with active participation and validation. The valuation of Chiliz and Socios is now a crypto-unicorn, exceeding $3 billion worth of ecosystem. Every day around $1 billion is traded across major crypto exchanges. The Fan Token Market capital is around $350 million and $50 million worth of Fan Tokens are traded every day.
The company has successfully raised around $60 million in 2018 from Binance.com, the largest crypto exchange in the world. These numbers validate the operation and vision of Chiliz. Users across the world support the idea of connecting teams with their fans.
How Does the Distribution of Funds look?
The funds from the sale of Chiliz tokens are used for a common cause. The primary utilization is done to enhance and cover operations. User acquisition is an important part of building an ecosystem in Socios.com. Around 20 percent of funds are reserved to grow engagement, P2P user experience, and marketplace.
To run an independent platform with complete transparency, funds are directed towards corporate structuring. Around 10 percent of funds are used to ensure Socios.com platform maintenance to operate independently.
Security and legal formalities are a major driving force for both user’s peace of mind and the growth of the organization. A small percentage of funds goes into ensuring timely audits for Chiliz. The legality of the platform’s operation in the EU and all other relevant global markets is also taken care of by this allocation.
Finally, a part of the funds (around 7%) goes into the development of the blockchain infrastructure and developing valuable partnerships to help the company grow to new heights.
How has Chiliz Started a new era?
A claim for the dawn of a new era can be witnessed with the first Football club participating in tokenization. It all began with Juventus, which has taken the stand to release Fan Tokens. They have a strong fan base of 423 million and growing. With the release of tokens, an instant connection is built between the club and its well-wishers.
The CEO of Chiliz states that this move is not only a seminal moment for football but also a huge step forward for the blockchain and cryptocurrency industry. Football fans are now introduced to blockchain and cryptocurrency through active engagement with Chiliz.
This step has also unveiled the huge potential of this blockchain platform, with a starting participation of 423 million fans globally. Now, the addition of more teams and incremental partnerships have certainly commenced a new era.
What Does Chiliz do Other Than Elevate Fan Engagement?
Apart from constant innovation and product enhancement towards revolutionalizing fan engagement, Chiliz also offers alternative payment solutions for conventional products.
The team is also working towards adding additional sports categories to its platform. Currently, around 19 official partners are onboarded. Successful polls counting around 120 have been executed on its platform, and participants rewarded. Other entertainment verticals are empowered, such as the recently announced PFL (Professional Fighters League).
What are the Recent Strategic Announcements and Developments in the Chiliz Platform?
The company is set to strategize business for 2021. The CEO of Chiliz have given the first keynote of 2021 on January 7. He covered: NFTs, current year strategy, Binance partnership, economic, and utility fronts.
On October 26, 2020, the latest update for Chilizens and its users was an announcement of the official Fan Token for PFL. The team embraced Covid-19 as an opportunity because it forced clubs and entertainment properties to reenergize their strategies towards public engagement.
On May 12, 2020, the CHZ/INR pair went live on leading crypto exchanges in India. Coindcx.com is the first exchange to list this trading pair. April 15, 2020, marks the dawn of a new era with the Juventus Fan Token up in the official trading platform of Chiliz.
How to Buy Chiliz (CHZ)
Chiliz (CHZ) is currently available for purchase on the following exchanges.
Binance – Best for Australia, Singapore, UK, & USA residents. Canadian residents are prohibited.
Discount Code: EE59L0QP for 10% cashback off all trading fees for non-USA residents. USA residents: Trade $100 & Earn $10 in 30 days after account registration.
Kraken – Founded in 2011, Kraken is one of the most trusted names in the industry with over 9,000,000 users, and over $207 billion in quarterly trading volume.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts International & United States residents.
WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It is the best exchange for residents of India.
Chiliz – The Force to Reckon Within the Global Sports Sector
Chiliz is doing something nobody has done before. Employing one of the most powerful technologies of the 21st century, it is opening a new phase in the sport and entertainment industry. They have brought a new form of monetization for popular sports clubs while they were re-thinking strategy during the Covid-19 pandemic. It was a win-win scenario for the sports clubs and Chiliz.
Chiliz is determined to expand partnership and add new sports verticals other than Football. The target seems attainable. It is planning to add 100+ teams to release Fan Tokens. The Special fund distribution strategy ensures smooth operation and steady growth. Overall, Chiliz looks to capitalize on the traction it has generated so far and use it to launch to multiple sports.
Gaurav started trading cryptocurrencies in 2017 and has fallen in love with the crypto space ever since. His interest in everything crypto turned him into a writer specializing in cryptocurrencies and blockchain. Soon he found himself working with crypto companies and media outlets. He is also a big-time Batman fan.
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