cryptocurrencies

Chiliz - A Complete Guide

Daksh Murkute | | |

Chiliz is a blockchain technology-focused on sports and entertainment industries and has a purely dedicated platform for sports enthusiasts named Socios.com

 

Socios.com is a platform that has many world’s famous football clubs, leagues, and esports teams. 

 

Chiliz uses two token systems in Socios.com, first one is CHZ which is the native token of Chiliz, and the other is Fan token which allows fans to vote on decision-making processes, surveys, and feedback polls.

 

In this blog, we will discuss everything about Chiliz and its crypto token CHZ.

Contents

What is Chiliz (CHZ)?

History of Chiliz (CHZ)

How does this work?

How can we make a decision?

What it has achieved so far?

Current market value

Conclusion

 

What if you have the authority to make certain decisions in your favorite sports team? What if, you can decide which t-shirt they are going to wear, which accessories they are going to use.

 

If you have the power to influence the decision of your favorite sports team, it will be quite amazing for you. Right!

 

This becomes possible and, now you have the authority to make certain decisions for your favorite team, and this is become possible by a blockchain-based company named Chiliz (CHZ).

 

What is Chiliz (CHZ)?

Chiliz logo

          

The game has been an important part of our life. We are playing games ever since evolution, and with time we have made progress in our games, and after computers came into our lives, the sports industry has been changed drastically.

 

Nowadays, we can watch our favorite sports on our TV, smartphones, PC, etc., and can cheer our teams. 

 

Chiliz (CHZ) thought about it and came with an idea of a platform for sports enthusiasts that allow sports fan to be more involved in activities of their favorite team’s events and leagues.

 

Chiliz (CHZ) created their own platform Socio.com, in which the fans can interact more actively with their favorite team.

 

And now it became the world’s leading blockchain platform for sports and entertainment in the e-sports and traditional sports industries.

it uses CHZ as a currency, It is the cryptocurrency token of chiliz, used for various purposes,

Chiliz is blockchain technology, based on the Ethereum blockchain ecosystem.

 

 

 

History of Chiliz (CHZ)

History of Chiliz

 

The founders of Chiliz (CHZ) have had this idea since 2016 to build a sports-based blockchain but they started working on this in 2018.

 

Chiliz was founded by Alexandre Dreyfus. He was also the founder of the poker website Winamax.

 

It has a team of 100+ professionals with 29 different nationalities and continuously growing.
 

They have multiple development offices in different parts of the world including Turkey, Spain, South Korea, and Brazil

 

How does this work?

 

How chiliz work

 

“Chiliz's Socios.com is a medium between fans and his favorite teams, in which a fan can spends CHZ coins to support his favorite team and can also affect certain decisions of that team.

 

Socios.com is their first product and first mainstream hub for fans to vote in their favorite teams created by Chiliz.

 

This app has many world’s famous football clubs and esports teams such as FC Barcelona, Juventus, Paris Saint-Germain, Atletico de Madrid, AS Roma, Galatasaray, OG, Team Heretics, UFC, Apollon Limassol, Trabzonspor, BSC Young Boys, Sint-Truidense V.V., PFL, Novara Calcio, Natus Vincere, İstanbul Basaksehir, Team Alliance, Universidad de Chile, and A.C. Milan.

 

How can we make a decision?
 

To do that they are using two tokens in their systems,
 

  1. Chiliz (CHZ) tokens - it is a utility token that can be used by sports fans in Socios.com to acquire Fan tokens for their favorite teams. It is issued by Chiliz.

 

  1. Fan tokens – it is also a utility token, which we can buy on Socio.com by using the Chiliz (CHZ) token, It allows fans to vote on decision-making processes, surveys, and feedback polls.
     

Teams and clubs available in Socios.com determine how many decisions can fan community makes, then a certain amount of fan tokens generate on Socios.com. Fans can buy these fan tokens by using CHZ, the more token fans have the more power they can have in the voting process.

 

What it has achieved so far?
 

The USP of Chiliz is, it has created a new environment in which fans can directly interact with their favorite teams.

 

Chiliz (CHZ) raised $66M through private placement (private placement is a sale of shares to pre-selected investors rather than on the open market).

 

Current market value

 

current market value

 

The overall supply of the Chiliz cryptocurrency is 8.8B CHZ and its supply in circulation is 4B CHZ.  At the time of writing the lowest price of CHZ was seen on September 27th, 2019 which was $0.03, and the highest price was observed on April 16th, 2021 was $0.7739.

Each CHZ is worth around $0.22 at the time of writing and now it is in the #58th position in the top 100 cryptocurrencies of the world.

 

It is listed among the major cryptocurrency exchanges of the world, so you can buy it from anywhere according to your convenience.

 

Conclusion

 

Last year was not that good for the sports community because of COVID-19 and the global lockdown.

 

The Chiliz (CHZ) is helping both fans and sports teams to recover from the losses incurred over the last year by bringing fans and the sports community together.

 

With the help of CHZ, they can participate in new and exciting opportunities, and in the future, this collaboration will only grow and will bring new and unique experiences between both of them.

 

CHZ has been listed in various major crypto exchanges, various prediction sites, and many experts of the crypto community are quite optimistic about CHZ.

If in future it 
can collaborate with more sports clubs, surely it will boost its performance. Since the crypto market is so unpredictable in nature, you should monitor your investment carefully. 

 

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