Chiliz (CHZ) is a prominent blockchain infrastructure provider for Socios.com, a leading fan engagement portal. Both the blockchain and the platform utilize CHZ as their native currency and utility token.
Chiliz offers innovative blockchain-based tools and infrastructure tailored for the sports and entertainment industries. These tools enable businesses to enhance audience engagement and explore new monetization avenues.
Chiliz is the backbone of Socios.com, facilitating seamless engagement between sports and entertainment businesses and their audiences. It has a mission to bring blockchain-based products and services into the mainstream consumer market.
This platform, developed on the Chiliz Network, enables fans to purchase branded fan tokens from renowned sports teams worldwide. These teams include FC Barcelona, Paris-Saint Germain, AS Roma, UFC, and more.
CHZ is the native token of the Chiliz ecosystem and the Socios.com fan engagement platform. It is utilized for purchasing fan tokens on Socios. CHZ is designed as an ERC-20 token on the Ethereum blockchain and a BEP-2 token on the BNB Chain.
Chiliz operates as a curated, scalable, semi-decentralized blockchain network, primarily targeting organizations in the sports and media sectors. This network is a foundation for launching crypto projects designed for fan engagement. Here are some key elements of the Chiliz ecosystem:
Chiliz offers a blockchain infrastructure tailored for the sports and media industries. This infrastructure is designed to be scalable, providing a robust foundation for various crypto initiatives.
Organizations, both startups and enterprises in these industries, can leverage the Chiliz Network to implement crypto-based and blockchain-based solutions. These solutions enhance fan engagement and create new revenue streams through fan token offerings.
Chiliz's flagship solution, Socios.com, is a fan engagement platform where sports teams can issue their own fan tokens. These fan tokens are digital assets built on blockchain technology. They enable fans to express their support and influence over their favorite sports teams.
Owning these fan tokens provides users on Socios.com with unique privileges, including the power to participate in team decisions through voting rights on official polls. Users can further engage with their preferred sports brands by purchasing fan tokens, participating in activities, and winning exclusive rewards like merchandise and experiences.
Chiliz Chain 2.0, an evolution of the original Chiliz Chain, is a blockchain platform primarily designed for sports and fan engagement, powering the Socios.com fan engagement platform. It offers enhanced blockchain infrastructure for more efficient and secure transactions and serves as the protocol foundation for a web3 development ecosystem, facilitating the creation of decentralized applications and services. Tailored to meet the needs of sports and entertainment organizations, it enables the development of web3 experiences for global fan communities.
In 2018, Alexandre Dreyfus conceived the idea of Chiliz, aiming to harness blockchain technology for fan engagement with sports and eSports teams and players. This vision materialized in Q2 2018 when Chiliz successfully raised $66 million in funding via Private Placement.
At its launch, Chiliz generated a significant supply of 8,888,888,888 CHZ tokens. A portion of these tokens was allocated to seed investors, and subsequently, CHZ got listed on prominent cryptocurrency exchanges, including KuCoin.
By the close of 2021, Chiliz had achieved unicorn status within the crypto industry, boasting a workforce of 200 employees. A key contributor to this success was the launch of Socios.com, a fan engagement and rewards app.
Chiliz continued to innovate by introducing the testnet Scoville for Chiliz Chain 2.0 in Q1 2022. This initiative marked a strategic move into the web3 development space.
Chiliz aimed to provide sports and media organizations with tools to create web 3.0-powered decentralized applications, facilitating higher engagement and monetization opportunities. This move expanded the use cases for the CHZ cryptocurrency.
Chiliz presents a compelling investment opportunity driven by several factors:
CHZ is among the most popular sports tokens in the market. Sports and entertainment organizations’ rising adoption of its ecosystem and the Socios.com platform bodes well for its potential growth.
As more gaming organizations, sports clubs, and teams launch their fan tokens using the Socios platform, the demand for CHZ crypto will likely surge. This increased utilization can drive an uptrend in the Chiliz price, making it a valuable asset.
Chiliz is a leading digital currency that offers diversification for your portfolio. It's not just another cryptocurrency; it has real-world use cases.
The volatile nature of the crypto market makes it impossible to provide an accurate CHZ price prediction. However, you could get a better understanding of the price action in the Chiliz cryptocurrency by monitoring the following factors:
Chiliz's price is influenced by the adoption of its platform, Socios.com, by sports clubs and entertainment organizations. More partnerships and integrations with these entities can drive demand for CHZ as it becomes a crucial part of fan engagement, supporting the value of Chiliz crypto.
As more sports teams and clubs launch fan tokens on the Socios platform, the demand for CHZ, which is used to purchase these tokens, can increase. Higher demand typically leads to an appreciation in the price of Chiliz token.
The utility of CHZ within the Chiliz ecosystem plays a significant role. CHZ is not just a speculative asset; it has real-world use cases within the sports and entertainment industry. The more these use cases expand, the stronger the foundation for CHZ to USD price.
Technological advancements and updates to the Chiliz blockchain and platform can affect the Chiliz price. Upgrades that improve security, scalability, and functionality can attract more users and investors.
Like most cryptocurrencies, CHZ is affected by overall market sentiment. Positive sentiment in the broader crypto market, driven by factors like Bitcoin and Ethereum's price trends, can positively impact CHZ's value.
CHZ token serves several purposes within the Chiliz ecosystem, primarily enhancing fan engagement in sports and entertainment. Some of CHZ’s use cases include:
CHZ is used to purchase fan tokens associated with various sports clubs and teams. These fan tokens are digital assets that grant fans exclusive access to interact with their favorite teams and players through the Socios.com platform. Holders of these fan tokens can participate in club-related decisions and polls and even earn rewards.
CHZ holders can use their tokens to vote on important club decisions and participate in polls organized by their chosen teams. This direct involvement in club matters empowers fans and fosters a sense of community and influence.
Owning fan tokens unlocks exclusive experiences, such as VIP rewards, merchandise discounts, and access to live events. These perks make fans feel closer to the teams they support.
CHZ is the native currency of Socios.com, the platform that facilitates fan engagement. It's used to power various activities and transactions on the platform.
CHZ can be traded on KuCoin, allowing users to buy, sell, and speculate on its price like other cryptocurrencies. The market dynamics, including supply and demand, also influence its value.
You can generate passive income by holding $CHZ on KuCoin Crypto Lending. Head to this section of our platform to lend liquidity for CHZ and earn attractive daily interest over seven days, 14 days, or 28 days.
Chiliz (CHZ) is a cryptocurrency with a fixed total supply, and as of September 2023, the circulating supply stands at a little over 7.4 billion. Let's break down the token allocation from the CHZ max supply:
At launch, a little over 3 billion CHZ tokens were issued during the Private Placement. This initial distribution likely involved private investors and early supporters of the project.
More than 1.11 billion tokens were issued to the Chiliz team and early investors. This allocation rewards those who contributed to the development and growth of the Chiliz ecosystem.
The Chiliz Advisory Board was allocated 266,666,666 tokens. This board likely consists of individuals with expertise in cryptocurrency and blockchain, providing strategic guidance.
1.77 billion CHZ tokens were set aside as the user base reserve. This reserve could serve various purposes related to user incentives and platform development.
1.33 billion tokens were allotted for the project’s marketing operations. This allocation is crucial for promoting Chiliz and Socios.com to a broader audience and driving adoption.
Another 1.33 billion tokens were earmarked for strategic acquisitions. This allocation allows Chiliz to explore partnerships and acquisitions that align with its long-term goals.
Here’s how you can stake CHZ on Chiliz to earn staking rewards:
1. Buy CHZ on KuCoin and transfer the tokens to your wallet.
2. Visit the Chiliz staking interface and connect your wallet to it.
3. View the list of available validators in the network. Review their voting power, commission rate, and validator fees.
4. Click Delegate on the validator of your choice.
5. Enter the number of CHZ tokens you want to stake via delegation.
6. Click Submit and confirm the transaction from your wallet.
7. Sit back, earn rewards, and grow your crypto portfolio by staking CHZ on Chiliz.