What is Chiliz (CHZ)?
Chiliz (CHZ) 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.
How Does the Chiliz Token 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.
How Does it Operate?
The company developed the Socios platform built on the Chiliz (CHZ) 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.
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:
- FanTokenRank.Com: 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.
- FanTokenStats.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.
- Socios Journal: 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.
- Bonus Website: 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 (CHZ). Users across the world support the idea of connecting teams with their fans.
How to Buy Chiliz (CHZ)
- Binance: Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying CHZ. Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
- Bitpanda: This is the best option for European residents. Please note they do not accept residents from outside of this region.
- Gate.io: Best exchange for USA residents.
