Chiliz (Coin: $CHZ) is a layer-1 blockchain dedicated to revolutionizing the sports and entertainment industries.
The project was founded in 2018. Since then, Chiliz has grown to become a leading provider of blockchain-powered solutions for the sports and entertainment industries. It’s services are used by over 170 major sporting organizations globally.
Chiliz’s Product: Fan Tokens
Fan Tokens are the premier product of the Chiliz ecosystem. They are digital assets that create new opportunities for sporting organizations to connect and reward their fans through Socios.com.
What is Socios.com?
Socios.com is a platform launched by the Chiliz ecosystem. It offers an avenue for the sports and entertainment industries to deepen their relationship with their fans. Interactions are facilitated by Fan Tokens, which unlock access to gamified reward programs.
Some of the major organizations that have signed up for Socios.com include leading soccer teams from Latin America and Europe, leading Formula One teams, major teams from the NHL, NFL, NBA, and MLS, and eSports teams. The UFC has also signed up for Socios.com, with many more lined up. To ensure a global reach, Socios.com is offered in 10 major languages. Holders of the Fan Tokens trade with them on the Chiliz X Fan Token Exchange.
The Chiliz Chain
The Chiliz Chain was launched in 2023 to open up the ecosystem to a wider audience. It is a blockchain network designed to boost the adoption of blockchain technology in the sports and entertainment world. Brands are welcome to build Fan Tokens, NFTs, and other digital assets with a fee paid in $CHZ, the native token of the network.
The Chiliz Chain uses the proof of stake authority (PoSA) consensus mechanism. It is a centralized governance structure with proposals being limited to the Chiliz team. Voting on proposals is via the node owners and there are currently 11 $CHZ staking nodes.
$CHZ Token Details
$CHZ tokens are the utility tokens of the Chiliz ecosystem. They launched in October 2018 with a maximum supply of 8,888,888,888 CHZ. The tokens reached their all-time high price of $0.8915 on March 13, 2021. A week prior, on March 6, 2021, $CHZ tokens were trading at just $0.118.
The spike in price was a result of an announcement by Chiliz that it would invest $60 million in the tokenization of brands in the sports and entertainment world. Before that, the price of $CHZ had dropped to an all-time low of $0.004001 on September 28, 2019. It is still up by 1,313.51% since then and is currently trading at $0.05616 per token.
As of September 13, 2023, $CHZ tokens have a market cap of $415,675,467, which makes them the #73 most valuable crypto token by market cap, according to CoinMarketCap. Trading volume has also been quite impressive at $29,759,467 over the past 24 hours. The top three centralized exchanges for $CHZ’s trading volume are on Binance, Huobi, and BIKA, which account for around $12 million of the trading volume in the last 24-hours.
[Click The $CHZ Chart Above To View On CoinMarketCap]
Social Media
Chiliz has an absolutely massive social following. The project has:
- 479.1k followers on Twitter
- 26,199 members on Discord
- 18.6k subscribers on YouTube
- 15,684 followers on LinkedIn
- 10k followers on Facebook
- 4,694 fans on Weibo
- 21,179 members on Telegram
- 26.1k followers on Instagram
- 6.2k followers on Medium
Final Thoughts
Chiliz aims to turn over 3.24 billion sports fans globally, from spectators into decision-makers of their favorite teams, through its innovative Socios platform. In short, Chiliz aims to place fans firmly in the driving seat, giving them the power they never had before. Based on the trading volume of $CHZ tokens and the social media following that Chiliz has garnered, its value proposition has been accepted by many fans worldwide. With a possible user base of billions globally, $CHZ tokens hold absolutely massive upside potential.
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