Have you ever imagined having a direct say in the decisions made by your favorite sports team or entertainment organization? What if you could actively shape the direction of your beloved club, contribute to its success, and be rewarded for your loyalty? Enter Chiliz, a groundbreaking platform that’s turning these dreams into reality.
What is Chiliz (CHZ)?
Sports fans can now enjoy the power of cryptocurrency through Chiliz, which helps fans interact and have crazy experiences with their favorite sports team. Before Chiliz, fans could only interact with their favorite teams by watching their games live or in the stadium.
So, Chiliz is an Ethereum-based cryptocurrency that helps fans buy their favorite team fan tokens through Socios, a fan engagement platform. The Chiliz token works as a currency for the Socios NFT marketplace and helps fans willing to show support for their teams.
To purchase anything from the Socios app, you must first purchase the CHZ Token. This will help you carry out further purchases.
Conceptualization and Launch
There used to be a Socios for Spanish soccer teams in which fans used to purchase annual subscriptions. With this annual subscription, fans used to have the entry to early tickets, and they were also considered eligible to vote for the club.
With this idea in mind, Alexander Dreyfus wanted to explore more and launched Chiliz.
Founders and Developers
Chiliz, headquartered in Malta, was established by Alexander Dreyfus in 2018. The company has forged strategic partnerships with key figures such as Sam Li, the former Vice President of the NBA, Nicolas Maurer, the CEO of the renowned esports team, Vitality, and Dr. DisRespect, a prominent and influential video game streamer known globally.
Partnerships and Collaborations
Chiliz has more than 150 global sports partners, some mentioned below.
- LiveLike
- FC Barcelona
- Ankr
- Common Goal
- Crypto Blockchain Industries(CBI)
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The Mechanics of Chiliz (CHZ)
Below are some components that explain the Chiliz Mechanism.
Blockchain Framework
Chiliz (CHZ) operates within its dedicated blockchain ecosystem known as Chiliz Chain.
This blockchain has been purpose-built to cater to the sports and entertainment industry. It distinguishes itself by utilizing a consensus mechanism called Proof of Authority (PoA).
Unlike other consensus methods, PoA relies on a select group of authorized validators to authenticate transactions, enhancing efficiency and reducing energy consumption.
Tokenization
The core concept of Chiliz revolves around the tokenization of assets, with a particular emphasis on fan tokens.
These digital assets are created on the Chiliz blockchain and uniquely represent specific sports teams or entertainment entities. Fans acquire these fan tokens by purchasing them with CHZ tokens.
They can participate in various activities and decisions related to their chosen teams, such as voting on crucial matters or accessing exclusive content.
The allure of fan tokens also lies in their customization. Each franchise has the flexibility to tailor fan tokens based on factors like pricing, supply, distribution, and the exclusive perks they provide.
Security and Transparency
Chiliz places a strong emphasis on security and transparency within its ecosystem. The Chiliz Chain is engineered to uphold the security and immutability of transactions and data. Transactions and activities on the blockchain are transparent and can be audited by anyone, a fundamental characteristic of blockchain technology.
Chiliz’s Ecosystem: Socios.com
Let’s explore Socios in more detail.
Fan Engagement Platform
Socios.com is designed as a fan engagement platform with scalability and mainstream appeal. It acts as a bridge between fans and the teams they support. Fans can interact directly with their favorite clubs through the platform, enabling a more profound connection.
Voting Rights and Rewards
One of the critical features of Socios.com is the provision of tokenized voting rights and rewards to fans. Fan tokens issued by sports teams and organizations are at the core of this functionality. These tokens are unique blockchain assets directly associated with the team that creates them.
Holders of fan tokens gain the privilege to participate in essential decision-making processes related to their chosen teams. They can express their opinions through votes, polls, and surveys. This allows fans to have a voice in matters concerning the management and direction of their favorite clubs.
Benefits for Sports Teams and Fans
Here are some benefits for sports teams and fans.
Monetization Opportunities for Teams
Sports teams can raise funds by conducting Fan Token Offerings (FTOs), where fans purchase these tokens. The proceeds from these token sales can be reinvested in the team or used for specific projects and initiatives.
Participation in the Chiliz ecosystem can enhance a team’s brand exposure on a global scale. Fan tokens provide a unique and engaging way for fans worldwide to connect with the team, potentially expanding the team’s global fanbase.
Empowering Fans with Voting Rights
Fan tokens grant fans direct influence and decision-making power within their favorite sports teams and organizations.
This empowerment goes beyond being a passive supporter, allowing fans to have a say in the team’s activities and strategies.
Fans are more likely to be engaged and emotionally connected to a team when they have a voice in important decisions.
Economic Aspects of Chiliz (CHZ) Tokens
Let’s discuss the economic aspects of Chiliz in more detail.
Utility and Purpose
Below are the two primary purposes of CHZ.
- One of the core purposes of Chiliz is to facilitate active engagement in the Socios fan token economy.
- Beyond its utility within the Socios ecosystem, CHZ serves as an investment opportunity. It is a token that has demonstrated resilience in cryptocurrency market volatility.
Tokenomics
- Market Cap: $447,053,925
- Circulating Supply: 7,478,079,839 CHZ tokens
- Total Supply: 8,888,888,888 CHZ tokens
- Max. Supply: 8,888,888,888 CHZ tokens
- Fully Diluted Market Cap: $531,315,174
Investment Potential
CHZ price is quite volatile, and analysts have mixed opinions about whether CHZ tokens can yield positive returns in the long run.
So, you should analyze the market and Chiliz’s potential in your own way, one that suits you.
How to Buy Chiliz (CHZ) on Binance
Here are a few steps simplifying how you can buy CHZ on Binance.
Sign Up and Verification
Start by clicking on the link below, which will take you to Binance’s Registration Page using a special Coin-Labs referral code. You must provide an active email address and create a strong password.
Although you are a registered user, verification will be required before you begin trading. For the KYC process, Binance will require a front and backside photo of your national identity card. Additionally, they will also require a live photo for further verification.
Securing Your Account
You can secure your account through Binance in many ways, such as Two-factor Authentication, Google Authenticator, and FingerPrint scanner.
Two-factor authentication involves getting a code through email, whereas with the Google Authenticator method, you can get the code from the Google Authenticator app. And then, after getting the code, you will have to paste it on the app or website.
Depositing Funds
Binance allows several options to deposit funds, including Debit/Credit, Bank Transfer, and P2P.
All these methods are efficient and safe, so there is no need to worry about it.
In many countries, you cannot buy USDT directly through your bank or Debit/Credit cards, so in this case, you must buy USDT through a P2P transaction.
Navigating and Buying Process
You will have to search CHZ on the Binance search bar, and upon doing this, you will be directed to the Buying Page. Then, you must select the buying option highlighted in green on the screen’s left.
After that, you will be required to choose the quantity of CHZ that you want to buy. Finally, you must click on the buy button to execute the order.
Withdrawing CHZ to a Wallet
After CHZ is safely stored in your Binance account, you can transfer it anywhere (in any wallet).
Clicking the withdraw button in your spot or futures wallet, wherever the CHZ is stored, you can transfer your CHZ to your personal crypto wallet.
The Future of Chiliz (CHZ)
Let’s analyze Chiliz’s future.
Expansion Plans
Chiliz has expanded its presence globally, forging partnerships with various countries’ sports teams, organizations, and entertainment entities.
This global outreach is expected to continue, broadening the platform’s reach and user base. However, the exact companies Chiliz will partner and collaborate with in the future have yet to be discovered.
Impact on Sports and Entertainment Industry
Chiliz’s success has sparked innovation in the sports business sector, encouraging other organizations to explore blockchain technology and fan token offerings. This could lead to more widespread adoption of similar platforms in the industry.
Blockchain technology ensures transparency and trust in fan interactions, including voting and reward distribution. This sets a standard for transparency that could influence the broader sports and entertainment landscape.
Conclusion
Chiliz is a pioneering sports and entertainment industry force, leveraging blockchain technology to transform fan engagement. Through its innovative platform, Socios.com, Chiliz has given fans a newfound sense of agency, allowing them to actively participate in the decision-making processes of their favorite teams.
Moreover, Chiliz’s influence extends beyond its own ecosystem, inspiring the broader sports and entertainment sector to explore blockchain-based fan engagement models.
We Coin-Labs.com provides only objective information about Chiliz (CHZ).
Therefore, we are not responsible for the investment decision in Chiliz (CHZ) and the resulting loss.
Chiliz (CHZ) Basics
Here are some factors that investors should consider before investing in Chiliz (CHZ).
| Cryptocurrency Features | Chiliz (CHZ) (CHZ) |
|---|---|
| Publisher or Developers | Alexander Dreyfus |
| Headquarters (Registration Number) | Malta |
| Symbol | CHZ |
| Platform | Ethereum-based Chiliz blockchain |
| Published Date (CMC Registration) | 2024-12-01 |
| Max Supply | No limit |
Reliability Score of Chiliz (CHZ) in 2024
These are indexes mesuring the investment reliability of Chiliz (CHZ) conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 10 Exchanges |
| Number of Available Pairs Worldwide | 498 Pairs |
| Market Cap of the Cryptocurrency | 891,120,964 USD (Rank #70) |
The table above shows the result of investment suitability evaluation for Chiliz (CHZ).
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Chiliz (CHZ) Price
Here are the price and recent trading volume of Chiliz (CHZ). (Data of 2024-12-02 03:40:00)
| Price Items | Price and Trading Volume of Chiliz (CHZ) |
|---|---|
| Chiliz (CHZ) Price | 0.106 USD |
| Price Change 24h | 2.89% |
| Price Change 7d | 16.96% |
| Trading Volume 24h | 230,982,515 USD |
| Trading Volume Change 24h | 9.26% |
Cryptocurrency Metadata
You can check the development status and social media information of Chiliz (CHZ) through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | https://www.chiliz.com/ |
| 📖 White Paper | |
| 🛰️ Source Code (GitHub) | |
| https://twitter.com/chiliz | |
| 🎺 Message Board | https://medium.com/chiliz |
Where to Buy Chiliz (CHZ)
Here are the top ten world crypto exchanges where traders can buy Chiliz (CHZ) in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/CHZ_BTC |
| Coinbase | Listed | https://pro.coinbase.com/trade/CHZ-USD |
| Kraken | Listed | https://pro.kraken.com/app/trade/chz-usd |
| KuCoin | Listed | https://www.kucoin.com/trade/CHZ-USDT |
| Bitfinex | Listed | https://trading.bitfinex.com/t/CHZ:USD?type=exchange |
| OKX | Listed | https://www.okx.com/trade-spot/chz-usdt |
| Huobi | Listed | https://www.htx.com/en-us/trade/chz_usdt?type=spot |
| Bitstamp | Listed | https://www.bitstamp.net/markets/chz/usd/ |
| Bybit | Listed | https://www.bybit.com/trade/usdt/CHZUSDT |
| Gate.io | Listed | https://www.gate.io/trade/CHZ_USDT |
Frequently Asked Questions
What is the current price of Chiliz (CHZ)?
Chiliz (CHZ) price today is 0.106 USD. Furthermore, the price of Chiliz (CHZ) has fluctuated by 2.89% from 24 hours ago, and by 16.96% from a week ago.
Where is Chiliz (CHZ) listed?
Currently, it is listed on a total of 10 among the world top 10 exchanges.
What is the market cap of Chiliz (CHZ) now?
Currently, Chiliz (CHZ) has a market cap of 891,120,964 USD, which is ranking 70 among cryptocurrencies worldwide.
How much is the trade volume of Chiliz (CHZ)?
Currently, 9,206,791,217 CHZ coins are circulating through 498 market pairs. As a result, in the last 24 hours, 230,982,515 USD of CHZ coins were traded in the market.
