Chiliz Price (CHZ)

Chiliz is a cryptocurrency and blockchain-based platform that focuses on fan engagement and monetization in the sports and entertainment industry. Mediarex Group created Chiliz to bridge the gap between sports fans and their favorite teams by providing a platform (Socios.com) that runs on fan tokens.

Fan tokens are digital assets that represent ownership or access rights to certain sports teams or clubs. These coins allow fans to participate in various activities, such as voting on club decisions, accessing exclusive content, and engaging with fellow supporters. They also provide an avenue for sports teams to increase fan loyalty, generate revenue, and enhance the fan experience.

The sports fan engagement platform operates on the Chiliz blockchain, a Layer-1 EVM-compatible chain. The platform enables sports organizations to create and manage their own branded fan tokens. 

Chiliz has partnered with various high-profile sports teams and organizations, including football clubs like FC Barcelona, Paris Saint-Germain (PSG), Napoli, and Juventus, as well as other sport leagues such as Formula 1 and UFC. 

Socios now counts on major American sports franchises as well like the Boston Celtics and Cleveland Cavaliers from the NBA, the New England Patriots and Pittsburgh Steelers from the NFL, and the New York Islanders and New Jersey Devils from the NHL.

CHZ, the native token of the Chiliz platform, serves as the utility token for various activities on the Socios platform. It is used for purchasing fan tokens, participating in token-based activities and promotions, and engaging with teams and other supporters.

Chiliz price history

2019

Chiliz (CHZ) entered the market in 2019, initially experiencing limited trading volume and price stability. During this time, the focus was on establishing partnerships with prominent sporting organizations and launching Socios.com, a sports fan engagement platform. 

The newly-created Socios platform enabled fans to engage with their favorite sports teams through fan tokens. As Chiliz gained traction and secured their first partnerships with major football clubs like Juventus, the CHZ price began to experience significant growth.

2020

Towards the end of 2020, the cryptocurrency market witnessed a robust bull run, with many cryptocurrencies reaching all-time highs. Chiliz (CHZ) was no exception, and its price surged during this period. 

The increased investor interest in blockchain-based projects and the rising popularity of the Socios.com platform played a role in this growth. Moreover, as more football clubs and sports teams joined the Socios.com ecosystem, the demand for CHZ increased, leading to a rise in its price.

2021

Chiliz (CHZ) hit its highest price paid of all time in early March 2021, at a value of $0.8915 per token.

After the peak of the cryptocurrency market in early 2021, a phase of consolidation and market correction followed, impacting Chiliz as well as other cryptocurrencies.

Factors such as market sentiment, profit-taking, and regulatory concerns contributed to a decline in the price of CHZ. However, Chiliz continued to expand its partnerships, collaborating with additional football clubs and exploring opportunities in esports. These efforts, such as Inter Milan adding their fan token symbol as a front shirt sponsor, helped sustain interest and support for CHZ.

2022

From late 2022 onward, the Chiliz (CHZ) token witnessed a recovery in its price due to several factors. The increasing adoption of the Socios platform by more sporting organizations, including UFC and Formula 1, fueled the demand for CHZ.

Partnerships with global exchanges also made CHZ more accessible to a broader audience, attracting additional investors. In mid-2022, the price of CHZ jumped after Socios secured a partnership with FC Barcelona, one of the most popular sports clubs in the world.

Further, the overall resurgence of the cryptocurrency market and the growing attention to non-fungible tokens (NFTs) positively influenced CHZ's price, as Chiliz operates in the NFT space through its token platform.

2023

Although Socios has secured partnerships with major clubs in world football, American football, basketball, and racing, the CHZ token has still seen a drop in value. After starting the year around $0.22 per coin, CHZ has steadily declined to about $0.06 per token in August.

How does Chiliz work?

Chiliz operates through its blockchain-based platform called Socios.com, which serves as the foundation for fan engagement and monetization in the sports and entertainment industry. The process begins with sports organizations partnering with Chiliz to create their own branded fan token. These tokens represent ownership or access rights to the respective team or club.

Once the fan tokens are created, they are made available to fans through token sales or initial fan token offerings (FTOs). Club supporters can acquire these tokens by using Chiliz (CHZ), the native cryptocurrency of the Chiliz platform. This initial acquisition grants fans the opportunity to engage with their favorite clubs and teams in unique ways.

Fan token holders gain access to exclusive benefits and engagement opportunities within the Socios.com platform. They can participate in various activities, including voting on club decisions such as selecting a team jersey design or choosing a player of the match.

Who are the founders of Chiliz?

The founders of Chiliz are Alexandre Dreyfus and Max Rabinovitch.

Alexandre Dreyfus is the CEO of Chiliz and Max Rabinovitch is the Chief Strategy Officer. Dreyfus has a background in the gaming industry, while Rabinovitch has a background in finance.

Dreyfus and Rabinovitch are both passionate about the potential of blockchain technology to revolutionize the sports industry. They believe that Chiliz can help sports teams and clubs connect with their supporters more meaningfully and monetize their fan bases more sustainably.

What is Chiliz used for?

Chiliz (CHZ) is a cryptocurrency used to power the Socios.com platform. Fans can use CHZ to purchase fan tokens, giving them exclusive rewards and voting rights. Fan tokens are specific to a team or a club and are finite digital assets that provides access to an encrypted, immutable ledger of voting and membership rights ownership.

Here are some of the things that Chiliz can be used for:

• Vote in polls and surveys: Fans can use CHZ to vote in polls and surveys conducted by their favorite clubs and teams. This gives fans a direct say in how their teams are run, similar to the rights of a shareholder.

• Access exclusive content and experiences: Fans who own fan tokens can access exclusive content and experiences unavailable to the general public. This could include things like behind-the-scenes footage, meet-and-greets with players, or even tickets to games.

• Purchase merchandise: Fans can use CHZ to purchase merchandise from their favorite sports brands. This could include things like jerseys, hats, or even signed memorabilia.

What makes Chiliz unique?

One of the key features of Chiliz and Socios.com is the voting mechanism, which allows fan token holders to have a say in certain club decisions. The voting power is often proportional to the number of coins owned, giving fans a genuine sense of involvement and influence within their favorite teams' activities.

Holders are also rewarded for their engagement. They can receive various incentives such as VIP experiences, exclusive merchandise, and special access to events and matches. These rewards enhance the overall fan experience and provide additional value to holding fan tokens.

How can I mine or stake Chiliz?

Chiliz cannot be mined like Proof of Work (PoW) cryptocurrencies such as Bitcoin. However, Chiliz does offer staking opportunities to token holders.

Here's how you can stake CHZ without technical expertise:

• Set-up a wallet to store CHZ

• Purchase CHZ via MoonPay

• Delegate your CHZ to a validator

• Earn rewards in CHZ