Investing in Chiliz (CHZ) – Everything you Need to Know
Chiliz (CHZ) is a cryptocurrency that runs on the Ethereum network. It was launched in March 2018, and it is the first cryptocurrency to implement a “tokenized ecosystem” concept. The main purpose of the CryptoKitty project is to launch a blockchain-based marketplace, where users can buy and sell virtual cats using Chiliz.
Chiliz is an open-source, decentralized social network that meshes the best of the internet with the best of blockchain technology. In this way, Chiliz allows for the creation of smart contracts that provide a decentralized way to create and manage social relationships. Chiliz’s platform supports a number of features, including online chat, file hosting, group and private messaging, video and voice call ability, and group video chat.
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What is Chilis (CHZ)?
Chiliz is an effort to build and strengthen passive relationships between elite sports, sports clubs, esports and their global fans. Chiliz is a subsidiary of Malta’s Mediarex Group, a global sports and entertainment company founded in 2006. This company is on a mission to change the way the world interacts with the digital world. She believes blockchain technology will reach its full potential when it becomes part of everyday life in the real world. The Chiliz team has been working on the product idea since 2016. The team began actively working on the project in early 2018. As of October 2020, after more than 2 years of innovation and construction, the team has generated 8.8 billion Chiliz ($CHZ) tokens, which is a native token. The CHZ token is a digital currency that powers the world’s first scalable fan engagement and rewards app. The brains behind Chiliz is Alexander Dreyfus, the company’s current CEO. He has been a co-founder of several other technology companies. His interest in sports began when he co-founded Winamax, the first French online poker and sports betting site, in 2004. The Chiliz team now consists of more than 80 professionals of 27 different nationalities. With Chiliz, you can actively participate in the most important decisions of the sports club thanks to the exclusive opinion polls and rankings made on the platform. Through constant innovation, Chiliz provides solutions for sports and esports organizations. It changes the bond between fans around the world and their favorite sports teams and players. Fans are no longer just spectators, but also active supporters of their favorite sports clubs. In 2018, the organization launched an exclusive platform (Socios.com) for the sports and entertainment industry. Cryptocurrencies have thus entered the heart of sports culture. With the launch of Socois.com live, the company has further expanded its vision of a seamless fan experience.
How does the Chiliz token work?
Chili or $CHZ tokens are used to purchase fan tokens generated by sports clubs. With these fan tokens, the user can participate in exclusive polls that determine the important decisions of the club. You will also be rewarded for your active participation. For the first time, the tokenization of popular sports clubs takes place. The current bid is $8.8 billion. Of this total, approximately 34.5% is on sale and in pre-sale. The reserve of the user base is 20%, which is used for tracking transactions and the development of the Socios.com platform. Trading pairs for CHZ are USDT and BTC. Users can actively redeem CHZ for fan tokens and participate in the blockchain platform.
How does it work?
The company has developed the Socios platform, which is based on the Chiliz blockchain infrastructure, running its own $CHZ token. This sports fan engagement platform conducts various surveys to find out the latest news and bridge the gap between fans and sports clubs. It has an exclusive mobile application that you can work with. All you have to do is download the app from the Android or iOS app store, create and verify your account, fund your account with $CHZ, redeem $CHZ for fan tokens, and use those tokens to participate in team polls. By actively participating, you have a chance to win many prizes. The price of fan tokens can go down as well as up, and holders of tokens are free to trade them. To maintain exclusivity, each fan token has a limited number – so you can become the owner of some of the influence in the team. Chiliz has worked with major football clubs such as Barcelona, Juventus, Manchester City, Atletico Madrid and many others. Innovations like token hunting, similar to PokemonGo for sports teams, make the app more interesting and rewarding for users.
What are the Chilizen projects?
There are four active projects in the Chilizen project directory. All of these projects are designed to symbolize, empower and connect fans around the world with popular sports clubs and esports organizations. Four projects are listed below:
This project was created to maintain transparency and provide a single platform to track prices, charts, volumes, statistics and market capitalization of fan tokens. The sole purpose of this project is to improve the readability of the information Socios.com and the company collect on the website. The company believes in the exponential growth of blockchain technology in the mainstream sports arena. His passion is to provide sports and entertainment fans with instant information in the form of in-depth analysis. He also stated that he worked independently. Therefore, it is not associated with Chiliz tokens or Socios.com.
This website sends real-time information about fan tokens. The site offers information such as an overview of market capital, daily rankings of the top players, FTOs (Fan Token Offerings), an overview of the fan token market, blockchain data, order book depth or liquidity and distribution offers.
This platform makes it easy to get information about everything the company does. For example, current partnerships and developments, supported exchanges, Chiliz token pairs, and more. An interesting feature of this platform is that it is entirely based on the Chiliz token.
FanMarketCap.Com: This page is made by Chilizens for Chilizens. Although it is not connected to Chiliz or Socios. The website displays real-time information on the market trend, current share price and market capital of each fan club. Besides football, he also follows the latest developments in the UFC. But she hasn’t joined the revolution yet.
What is the evaluation of the Chiliz platform and of Socios?
The mission thrives with active participation and affirmation. The estimated value of the Chiliz and Socios ecosystem is now a crypto-corn and exceeds $3 billion. About $1 billion is traded daily on the major cryptocurrency exchanges. The fan token market has a capital of approximately $350 million, and $50 million worth of fan tokens are traded per day. In 2018, the company managed to raise about $60 million from Binance.com, the world’s largest cryptocurrency exchange. These figures confirm the activities and vision of Chiliz. Users around the world support the idea of connecting teams with their fans.
What is the distribution of resources?
Funds from the sale of Chiliz tokens are used for a common purpose. The main application is the extension and coverage of the operation. User engagement is an important part of building an ecosystem at Socios.com. About 20% of the funding is for engagement, P2P user experience and marketplace development. With a view to launching an independent and fully transparent platform, funds will be made available for the structuring of companies. About 10% of the funds will be used to support the autonomous platform Socios.com. Security and legality are important, both for the peace of mind of users and for the growth of the company. A small percentage of the funding is used to ensure timely audits for Chilise. The legitimacy of the platform in the EU and all other relevant global markets is also assured by this distribution. Finally, a portion of the funds (approximately 7%) will be dedicated to the development of blockchain infrastructure and valuable partnerships that will help the company reach new heights.
How did Chiliz usher in a new era?
The proclamation of a new era can be seen with the first football club to participate in tokenization. It all started with Juventus, who decided to give out coins to their fans. Their fan base is 423 million and growing. The issue of tokens creates an immediate link between the club and its benefactors. CEO Chiliz says this is not only a revolutionary moment for football, but also a big step forward for the blockchain and crypto-currency industry. Football fans are now introduced to blockchain and cryptocurrencies through active involvement with Chiliz. This also helped to tap into the huge potential of this blockchain platform which initially has 423 million fans worldwide. Today, with the new teams and expanded partnerships, a new era has certainly begun.
What is Chili’s doing besides increasing fan engagement?
In addition to constant innovation and product improvements to revolutionize fan engagement, Chiliz also offers alternative payment solutions to traditional products. The team is also working on adding new sports categories to its platform. There are currently about 19 official partners involved in the project. About 120 surveys were successfully conducted on his platform and the participants were rewarded. Other entertainment verticals, such as the recently announced PFL (Professional Fighting League), are expanding.
What are the latest announcements and strategic developments on the Chiliz platform?
The company plans to develop a business strategy for 2021. CEO Chiliz held a meeting on the 7th. The first keynote in January 2021. He was safe: NFTs, current year strategy, partnership with Binance, economic and supply fronts. The last update for Chilizens and its users was on the 26th. October 2020: official token for PFL fans announced. The team saw Covid-19 as an opportunity because it forced clubs and entertainment venues to rethink their audience engagement strategies. On the 12th. In May 2020, the CHZ/INR pair appeared on India’s major crypto currency exchanges. Coindcx.com is the first exchange to host this exchange. The 15th. April 2020, a new era begins: The Juventus Fan Token will appear on the official Chiliz exchange platform.
Chiliz – a force to be reckoned with in the global sports sector
Chiliz is doing something no one has done before. Using one of the most powerful technologies of the 21st century. At the beginning of the 21st century, it ushered in a new phase in the sports and entertainment industry. They brought a new form of money-making to popular sports clubs that rethought their strategy during the Covid 19 pandemic. It was a win-win scenario for the sports teams and the chilis. Chiliz plans to expand the partnership and add new sports in addition to football. The goal seems achievable. The goal is to add over 100 teams to the list of fan tokens. A specific fund allocation strategy ensures smooth and stable growth. Overall, Chiliz hopes to use the results he has achieved so far to participate in different sports.
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Frequently Asked Questions
Is Chiliz a good investment 2021?
Chiliz is one of the largest cryptocurrencies in the world. It works on a blockchain platform which is widely used to power other cryptocurrencies. It is one of the oldest and most trusted blockchain platforms. It’s a top 10 cryptocurrencies to watch in 2019, ranked below on our most popular coins. Chiliz is a fast-growing digital currency, one that isn’t based on blockchain technology at all. But it is in the top 10, and it’s also one of the best investments to make in the next few years.
What will CHZ be worth in 2025?
In 100 years from now, will Cambodia be the same or will it be unrecognizable? When the human race and the technology world are in a race to see who is the first to reach the Singularity, will it be a western country or will it be a country of the developing world? Will we be riding in hovercrafts or on flying cars? Or maybe we might all be driving electric cars and flying around in them like the Jetsons? You never know, but one thing is for sure: we’ll all be using cryptocurrency to pay for our daily life. Cryptocurrencies have been taking the world by storm in recent years. With new coins being launched every day, it can be hard to keep track of them all. So, if you’re new to the world of cryptocurrency investing, here’s your guide to the most popular, useful, and promising cryptocurrencies out there.
How can I invest in Chiliz?
As an alternative to the traditional stock market, cryptocurrency is one of the hottest investment fields today. For investors who seek a completely different way to gain exposure to the crypto world, cryptocurrency options exchanges offer an opportunity to invest in projects and companies that are building a new financial future for the world. Chiliz is one of the best-performing altcoins out there. Chiliz is a cryptocurrency that allows you to travel to the future. The currency has been making major moves since it was launched in 2013. It is currently ranked 5th on the list of cryptocurrencies by market capitalization, with an estimated value of $63.4 million.
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