What is Chiliz?
The Chiliz platform is primarily focused on the sports industry and it has multiple purposes – all of which aim towards connecting sports teams and franchises directly with their fans by using blockchain technologies. In this Chiliz Review, we take a closer look at the history, features and tokens of this protocol.
Chiliz can be used by sports franchises to engage with and monetize a particular fanbase and fans can use this platform to participate in decision-making processes, gain access to exclusive perks and interact directly with their favourite sports teams.
The sports teams can use Chiliz to gain input from fans regarding uniform designs, anthems, stadium names, starting lineups.
In addition to the blockchain tools and services offered, Chiliz developed the Socios fan engagement and community platform to give fans access to Fan Token Offerings (FTOs), VIP rewards, games, news updates and much more.
Who is the founder of Chiliz?
Chiliz was founded in 2012 by CEO Alexander Dreyfus, who is a serial entrepreneur that has launched and operated several travel and entertainment businesses for the last 20 years.
Alexander developed the interactive travel guide known as Webcity, as well as Chilipoker and Winamax, which are online poker platforms.
Chiliz has several other partners, including Sam Li (former Vice President of the NBA) and Nicolas Maurer (CEO of esports team Vitality).
What are the Features of Chiliz?
Chiliz operates in a parallel environment with its Socios sidechain using its proprietary crowd control mechanism and Proof-of-Authority consensus to protect users and to ensure that voting is only allowed on publicly audited polls.
Fan Tokens are unique to Chiliz, and many teams, including Aston Martin Cognizant Formula1, FC Barcelona and Golden State Warriors basketball team have already held Fan Token Offerings (FTOs).
These customizable tokens allow franchises to reward their fans with exclusive offerings, voting power and more.
To further expand its service offering and offer greater rewards for fans, Chiliz has secured a partnership with Chainlink, which is a decentralized Oracle network, so that unique NFTs can be created and collected to commemorate player milestones and special events.
What is the CHZ token?
CHZ is native to the Chiliz platform and it is both an ERC20 token and a BEP20 token with a maximum supply of 8.8 billion.
Once you have CHZ tokens in your ownership, you can purchase unique Fan Tokens from the Socios.com website and Fan Tokens can then be used to participate in polls, access exclusive rewards and exercise your voting rights.
How to buy CHZ
The easiest way to obtain CHZ is by purchasing it from an online exchange, such as OKEx, Binance or Coinbase Exchange.
Follow these steps to buy CHZ:
Step 1: Create an account with your preferred exchange
Step 2: Follow the online application process and verify your account
Step 3: Log in to the client portal and fund your account
Step 4: Go to the exchange or P2P page (if P2P is available)
Step 5: Search for the token using the search bar and confirm the transaction
What are the best CHZ wallets?
Based on research, we recommend using these wallets:
- Trust Wallet
- Atomic Wallet
- ZenGo
Trust Wallet is free to download and use, and supports a total of more than 160,000 coins and digital assets, which can easily be traded and managed directly from the wallet.
Atomic wallet is free to use and beginner-friendly and offers multi-currency support for more than 300 cryptocurrencies that can be traded using the built-in exchange.
ZenGo is a popular software wallet that uses facial biometrics and allows users to buy and sell cryptocurrencies within seconds. This wallet can also be used as a savings account for crypto to earn interest and manage investments.
Conclusion
Not only has Chiliz used blockchain technology to allow sports fans to engage directly with their favourite teams and gain access to exclusive rewards using the Socios community platform, but it is also giving sports teams an opportunity to gain more input and feedback from their fans.
We like that Chiliz has committed to using Fan Tokens to generate more revenue and publicity for the sports industry, especially post-pandemic, and how it is encouraging athletes, sports fans and franchises to be more active in the booming cryptocurrency scene.
We hope that this Chiliz review answers some of your questions about this protocol.
Good luck with your trading!
FAQ:
What is Chiliz?
The Chiliz platform is primarily focused on the sports industry and it has multiple purposes – all of which aim towards connecting sports teams and franchises directly with their fans by using blockchain technologies
Who is the founder of Chiliz?
Chiliz was founded in 2012 by CEO Alexander Dreyfus, who is a serial entrepreneur that has launched and operated several travel and entertainment businesses for the last 20 years.
What token does Chiliz use?
CHZ is native to the Chiliz platform and it is both an ERC20 token and a BEP20 token with a maximum supply of 8.8 billion.
How to buy Chiliz token?
The easiest way to obtain CHZ is by purchasing it from an online exchange, such as OKEx, Binance or Coinbase Exchange.
What wallets can I use on Chiliz?
Based on research, we recommend using these wallets:
- Trust Wallet
- Atomic Wallet
- ZenGo
