Chiliz CHZ is currently the leading digital company for the tokenization of sports and entertainment fans. This digital platform was developed by the eponymous Malta-based FinTech provider.
With Chiliz CHZ Entertainment or sports, companies can bring their fans to participate in voting in making decisions about what next steps will be taken.
Using the tradable CHZ token, Chiliz has three important elements in the ecosystem, Socios.com, Chiliz.net, and the CHZ token.
- 1 What is Chiliz CHZ?
- 2 How does Chiliz Works?
- 3 Chiliz CHZ company overview
- 4 Founder Chiliz
- 5 Socios.com and Chiliz CHZ
- 6 Is Chiliz CHZ a NFT?
- 7 Chiliz exchange
- 8 CHZ token
- 9 Will Chiliz reach $1?
- 10 Chiliz Business model
- 11 Chain 2.0
- 12 Partnership in Chiliz
- 13 Chiliz CHZ price prediction
- 14 Conclusion
What is Chiliz CHZ?
Chiliz was once a project in blockchain that was underestimated. But now it has grown with team members who are able to work solidly and make Chiliz an intermediary platform between sports clubs and fans. As well as entertainment.
For those of you football fans, of course, you are very familiar with the clubs FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, Galatasaray, Atlético de Madrid, OG, CAI & UFC. The world-class football club has become a partner in the Chiliz blockchain infrastructure platform.
The sports club brand can create fan tokens for its fans which can be traded in an exchange for CHZ. The fan token holders can contribute by voting for the brand or sports club. Thus Chiliz utilizes blockchain technology to bring sports and entertainment to connect fans with their idols.
Chiliz facilitates the tokenization of fan tokens which in the future can contribute to the governance of their favorite team.
CHZ has a key role in the efficient Chiliz ecosystem for fan token purchasing and trading. And with the same token participates in surveys linked to their idol club.
How does Chiliz Works?
As mentioned earlier, there are three important elements in the Chiliz environment, the first being Socios.com, Chiliz.net, and the CHZ token.
Registered partners will appear on Socios.com. This is where fan tokens are created, Chiliz will periodically announce new partners on its website page.
So there is a possibility that a favorite club that has not yet joined has no fan token available. So fans cannot purchase fan tokens because the club has not yet been registered as a partner.
Furthermore, fans can trade fan tokens through Chiliz.net. This is an exchange that is a means of trading fan tokens, both for speculation and trading purposes.
Through the browser when you find your favorite token then click the link, then you will be directed to the trading platforms where you can buy fan tokens either with market orders, limit orders, or stop limits.
CHZ is Chiliz’s native token, to start contributing, fans need to buy CHZ tokens, then go to the Chiliz.net token trading exchange.
Chiliz CHZ company overview
Platform Chiliz was born in 2018 and was the initiator of using blockchain technology to become a new way for sports teams to monetize their global fans.
Chiliz is not only has partner with soccer clubs but also in entertainment. This provides a space for fans to vote about their favorite team.
The platform will also add many more including football, baseball, and basketball. The Chiliz platform has emerged as a fan token leader and is driving Socios.com as the biggest exchange non-blockchain app with a reach of millions of sports fans worldwide.
This company has become a multinational company as a 200-strong crypto unicorn by the end of 2021.
Socios.com itself launched in 2019 with its first fan token being the Token for Italian soccer team Juventus ($JUV). After that followed by other soccer clubs including Paris-Saint Germain, Atlético de Madrid, Galatasaray, A.S. Roma, and FC Barcelona. Recently, soccer club PERSIB Bandung became the first club from Indonesia to become a partner of Chiliz.
Alexandre Dreyfus was the one who came up with the idea to build Chiliz in 2018. He is currently the Chief Executive Officer.
Dreyfus’ background is his over 20 years of experience founding and developing web-based companies. In 2017 he founded Webcity, Winamax, and Chilipoker.
Chiliz currently has a team of almost hundreds of members who come from 27 different countries and have backgrounds from more than 250 industry professionals.
Here are some of the team member names pinned on Chiliz .’s official page
- Emma Diskin serves as Chief Operating Officer.
- Max Rabinovitch serves as Chief Strategy Officer.
- Thibaut Pelletier serves as Chief Technology Officer.
- Fiobian Manicolo serves as Chief Financial Officer.
- Magnus Linder, he as Director of Global partner acquisition.
- Mark Verdegaal serves as Chief Product Officer.
- Dorianne Spiteri serves as Chief Legal Officer.
- Gilbert Camilleri serves as Marketing Director.
- Karim Virani serves as Partnership Management Director.
- James Newman, he as Director of Corporate Affairs.
Socios.com and Chiliz CHZ
Socios.com is a non-blockchain exchange that is a marketplace for soccer and entertainment club fans. To become a member of this platform fans must first register their account by using an application that can be downloaded on the Google Play Store for Android users and App Store for iOS.
After you install the application, then register with a mobile number to get an SMS code that will be sent as verification. Open minds, the Socios.com app may not be available in all jurisdictions due to government regulations prohibiting the use of cryptocurrencies.
After you are registered, to enable purchasing token fan participation, the next step is to buy $CHZ. You can buy through the app using a credit card or choose to use a third-party exchange and transfer to the app wallet.
The third option to get CHZ is via voucher if you have a voucher ID.
Once fans have enough $CHZ in their Socios wallet then they can buy fan tokens through the app. The fan token gives you access to vote on your favorite club associated with the fan token.
Fans can sell fan tokens with $CHZ and then withdraw funds. However, at Socios.com there are tradable tokens and non-tradable tokens that cannot be withdrawn, such as tokens from vouchers.
Chiliz.net is a sports tokenization exchange for fans that allows fans as well as crypto enthusiasts to trade fan tokens.
As a means to support Socios.com, the Chiliz exchange is a fan token marketplace that is all paired with CHZ. Example pair PSG/CHZ, CITY/CHZ, BAR/CHZ, JUV/CHZ, ATM/CHZ, ACM/CHZ, ASR/CHZ OG/CHZ.
Using Chiliz exchange you also have to register like in most centralized crypto exchanges. The thing to note is KYC compliance, especially to increase the withdrawal limit.
When depositing cryptocurrency, the thing to note is the address of the token that will be the means of deposit. An incorrect address can result in loss of funds and Chiliz exchange is not available to help.
Is Chiliz CHZ a NFT?
CHZ is a digital currency that is a type of ERC20 and BEP20 token. Which is basically not an NFT token. However, this platform is also related to NFT.
At Socios.com in their app, they support digital collectible NFT, launched by team partners in the Socios.com app. The goal is to keep fans active with their favorite team.
Fans looking to earn collectible NFT from their favorite team can follow promotions and purchases on Ethereum-based NFT marketplaces. This allows the price of collectible NFTs to change by demand and sale rights of token holders.
The collectible itself is minted on Socios.com, but users can also send it to other supported applications. An example wallet supported is Metamask which supports the ERC-721 token standard.
Chiliz CHZ is not only available through the Chiliz net exchange platform. But the CHZ token is also available on several other third-party exchanges.
Thus, this CHZ token is one that can be traded on crypto exchanges. You can find exchanges that support CHZ through Coinmarketcap for the CHZ market. Here are some exchanges that provide CHZ on their platform in pairs with various other crypto assets.
- Binance. The CHZ/USDT pair is currently the pair with the largest transaction volume on the Binance platform reaching $7,437,106. Second CHZ/TRY with volume reached $1,207,953. CHZ/BUSD volume was up to $960.43, while CHZ/BTC only reached $365.392 in volume.
- Gate.io. This became the second-largest exchange in CHZ token transactions, paired with USDT, the transaction volume on the Gate.io exchange was $1,253,515.
- Huobi Global. It is the third-largest exchange for the CHZ market which is also paired with USDT reaching a trading volume of $394,431.
- Coinbase exchange. On Coinbase exchange CHZ is traded on the pair CHZ/USD which on this exchange reaches a transaction volume of up to $358.031.
- FTX. The FTX platform provides the CHZ/USD pair with a transaction volume of $226,840.
- Kucoin. The Kucoin e exchange, provides CHZ in pairs with USDT, with the current transaction volume reaching $149.936.
- BitHumb. CHZ/KRW is available on this platform with transaction volume reaching $118,455
- Bybit. The Bybit platform provides the CHZ/USDT pair with a current transaction volume of $87,024.
- Kraken. CHZ/USD is available on the Kraken exchange with volumes reaching $56,229 at the time of writing.
The list of Chiliz exchanges above is only a part of the exchanges that trade CHZ with the following largest volumes on the related pair. There are other exchanges that are not listed above.
The current CHZ price referring to Coinmarketcap is $0.1153 at the time of writing. Details of token distribution can be found on the official Chiliz website.
Ticker name $CHZ, token type ERC-20 and BEP-20, issuing price $0.0215 USD, total supply 8,888,888,888, circulating supply 68% or 6.00B CHZ.
- Total supply Chiliz: 8,888,888,888.
- Private placement: 3,066,666,666.
- Team and seed investors: 1,111,111,110.
- Advisory board: 266,666,666.
- Userbase reserve: 1,777,777,780.
- Marketing operation: 1,333,333,333.
Token distribution for operational expenses 58% is for building the Socios.com platform and infrastructure. 20% for user acquisition. 10% for corporate structuring. 5% for security and legal, and 7% for ecosystem support.
How to buy CHZ token?
To buy $CHZ, if you have a credit card, it will be easier by purchasing through the Socios.com application on the Wallet then tap “Top Up $CHZ”. Enter amount want to spend the tap ‘Proceed to payment’. Select a payment provider then tap “Buy”, enter card details then tap “Pay now”. The CHZ balance will be updated showing the $CHZ you bought.
Third party exchange
If you do not have a debit or credit card that supports it through the application. Another way is through a third-party exchange.
Several exchanges you can consider on the previously mentioned Chiliz exchange list. Things that need attention are transaction fees, security, convenience, and availability of payment systems.
Decide which exchange you will be purchasing CHZ from, then register an account. If you have previously registered it is better you just go to the exchange account login and find CHZ on the market trading platform.
Furthermore, if you have purchased $CHZ, you can transfer it to the Socios.com application. How to receive $CHZ go to your Socios app, then on the screen tap “Wallet” then tap “Receive $CHZ’, it will display the public address to receive $CHZ. Copy and paste the code to avoid mistakes.
Wallet to store CHZ token
How to store CHZ when you want to hold tokens in the long term it is recommended to use a hardware wallet such as the Ledger wallet which supports thousands of crypto assets including CHZ.
However, if the Ledger wallet is too expensive for you, another option that Chiliz recommends is to use Trustwallet and ZenGo. You can download both wallets on the Google play store and App store. Depending your operating system.
Will Chiliz reach $1?
After launching, the price of $CHZ tends to be flat in the range of $0.01 to $0.02, until 2021. It seems that the price changes in 2021 are very extraordinary, CHZ managed to rise in price to reach an all-time high on March 13 to $0.8915.
Although the price of CHZ has not or has not crossed $1, the ROI of this token has reached 441.44%. However, the current price is still much lower than the all-time high that was reached. In order to reach the price of $1, CHZ will have to gain more adoption in the crypto market.
The wider reach of sports and entertainment teams, allows the value of the CHZ token to be more worth it. Moreover, until now there is no other competitor that beat Chiliz.
However, apart from the internal factors of team performance, external factors can also affect the crypto market. The global economy entering into a recession allows a decrease in transactions in the crypto market which can lower the price of crypto assets including CHZ.
Chiliz Business model
Whatever the reason, Chiliz is a startup with the aim of earning revenue from the platform it was built on. In general, they get revenue from marketplace transaction fees, be it P2P transactions, which will be subject to a small fee for the company.
Then Chiliz also gets revenue from Service Fees Sub-features, for example on promotions, and daily challenges, which will incur a fee for users.
Chiliz chain 2.0 (CC2) “Scoville” is currently under Testnet live. It is aimed at the corporate and start-up-level media and sports industries. Being on layer 1 blockchain.
Media organizations and sports brands enable to mint NFT and fan tokens, build Defi, play to earn games, create events, and loyalty programs, to elaborate Web3 which is currently a hot topic as a potential market.
CC2 is one of the expansion efforts after the success with Socios.com which was launched in late 2019. CC2 collaborated with Ankr as the Defi infrastructure provider.
Ciliz Chain 2.0 takes the modern PoSA (Proof-of-Stake Authority) consensus which is considered 2000x more effective than Proof of Work.
Partnership in Chiliz
Socios.com currently has more than 150 partners spread across 25 countries on 4 continents. The partners are from various types of sports, gaming, fighting, motorsport, football, basketball, tennis, American football, Ice hockey, and MLS.
The biggest partner currently comes from the sport of football, where 59 clubs from various countries have joined. And lastly, at the time of writing, there is PERSIB, a football club from Indonesia joining Chiliz. In the future, there may still be more new partners at Socios.com in the future.
Chiliz CHZ price prediction
Priceprediction. CHZ price 2022 average $0.13, 2023 average $0.19, 2024 average $0.26,2025 average $0.38, 2026 average $0.52,2027 average $0.76,2028 average $1.13,2029, average $1.58, 2030 average $2.32, 2031 average $3.33.
Digitalcoinprice.2022 average $0.15,2023 average $0.17, 2024 average $0.17, 2025 average $0.22, 2026 average $0.21, 2027 average $0.25,2028 average $0.37, 2029 average $0.47, 2030 average $0.53, 2031 average $0.53.
Wallet Investor. CHZ is bad investmebt asset, 1 year reach $0.0922
Chiliz CHZ is a pioneer of the blockchain platform that brings this technology into the sports and entertainment industry. Although at the beginning of its launch it was underestimated. But now this platform has grown to become one of the unicorns in the blockchain industry.
The uniqueness Chiliz become the main attraction for sports clubs who want to include their fans to vote for the team’s options for future steps.
Note: this article is for information only, this is not investment advice or solicitation. Forex, crypto CFDs are risky assets. Each investor is responsible for their investment.
You may like