Chiliz (CHZ) Cryptocurrency and Its Unique Features

Chiliz (CHZ) is a cryptocurrency that has gained significant attention in the sports and entertainment industry. It's the native token of the Socios.com platform.

Chiliz is designed to be a fan engagement and rewards token, allowing users to participate in decision-making processes and earn rewards through various activities.

The Socios.com platform is built on top of the Chiliz blockchain, providing a secure and transparent environment for fan engagement and rewards.

Chiliz has partnered with several top sports teams and organizations, including FC Barcelona, Juventus, and Paris Saint-Germain.

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Chiliz is a unique platform that allows sporting organizations to issue limited supply fan tokens to their fans. These tokens are offered on a first-come-first-serve basis.

The native CHZ token is used to purchase fan tokens and acts as the platform's internal currency. Fans can then vote on the Socios platform with their fan tokens, a process made possible using smart contracts.

Clubs determine the amount of influence fans have, and decisions can range from new jersey designs to deciding team matchups in exhibition games.

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Chiliz is a fan engagement and rewards platform that uses blockchain technology to create a new way for sports fans to interact with their favorite teams and leagues.

It's built on top of the Socios.com platform, which is a social app that allows fans to vote on various decisions made by their favorite teams.

Chiliz allows fans to purchase and hold CHZ tokens, which can be used to vote on team decisions, participate in exclusive experiences, and access unique rewards.

The platform aims to increase fan engagement and loyalty by providing a new way for teams to connect with their supporters.

By using blockchain technology, Chiliz ensures that all transactions and voting outcomes are transparent and tamper-proof.

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Chiliz (CHZ) is a pioneering platform that allows average sports fans to participate directly in the decision-making process of clubs and organizations. This is made possible through the use of fan tokens, which are offered on a first-come-first-serve basis.

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The native CHZ token is used to purchase fan tokens, and it acts as the platform's internal currency. Fans can then vote on the Socios platform using their fan tokens, thanks to smart contracts.

Clubs determine the amount of influence fans have in the decision-making process, which can range from new jersey designs to deciding team matchups in exhibition games.

The company is constantly creating new ways for fans to engage, such as the establishment of the Chiliz Blockchain Campus, a privately-owned crypto incubator focused on accelerating blockchain technology adoption across Asia and Europe.

Chiliz estimates to be at about 10% of its potential, despite the fact that it will likely have 80-100 teams as part of its network by the end of 2021.

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The total supply of CHZ tokens is a staggering 8,888,888,888.

50% of these tokens were reserved for private placement, including sales to private investors and businesses, as well as allocations to the team, seed investors, and advisory board. This initial portion of distributed CHZ accounts for half of all tokens created.

15% of CHZ tokens were assigned to strategic acquisitions, while 15% were allocated to marketing operations.

The CHZ token is primarily used as a method of accessing Fan Tokens.

You can trade CHZ for Fan Tokens on the Chiliz Exchange, making it easy to swap between the two types of crypto assets.

CHZ ensures deep liquidity on the platform by allowing users to trade pairs of CHZ and Fan Tokens.

The CHZ token exists as both an ERC20 token on the Ethereum blockchain and a BEP2 token on the Binance Chain.

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The total supply of CHZ tokens is 8,888,888,888, minted at its launch in 2018.

50% of all tokens were initially distributed to private placement, team, seed investors, and advisory board. This means a large share of CHZ tokens were reserved for these groups.

CHZ tokens were also allocated to the userbase reserve, accounting for 20% of all tokens created.

15% of CHZ tokens were assigned to strategic acquisitions and another 15% were allocated to marketing operations.

To participate in the Chiliz ecosystem, you need to buy CHZ directly from the Socios.com app or an exchange like Bitstamp. CHZ can then be exchanged for Fan Tokens on the Chiliz Exchange or the Socios.com app.

Fan Tokens are digital assets that exist on the Ethereum blockchain, giving fans a way to hold and trade them. Each sports team defines a set number of tokens for their fan base when they issue a Fan Token Offering.

The franchises can then announce opportunities for fans who own Fan Tokens, including promotions, rewards, and perks. They can also hold polls in which users can vote—using their Fan Tokens—on decisions that will affect the team.

The fan tokens sold at Socios.com are more than just collectables. They provide fans with interactive experiences with teams and control over team decisions.

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Chiliz operates on a side chain of the Ethereum network, which hosts any team, league, game title, or other organisation that connects with the platform.

To participate in the Chiliz ecosystem, you must first buy CHZ directly from the Socios.com app or from an exchange like Bitstamp.

Fan Tokens are digital assets that exist on the Ethereum blockchain, and can be exchanged for CHZ on the Chiliz Exchange or the Socios.com app.

Each organisation's crowd voting procedures operate as a semi-autonomous entity on this blockchain, allowing fans to have a say in team decisions.

Team-branded NFTs provide fans with interactive experiences with teams and control over team decisions, making fan tokens more than just collectables.

Fans who have obtained tokens may express themselves by voting in polls organised by teams that have become Socios partners, such as choosing the celebration song that would play over loudspeakers after the team scored a goal.

For example, Juventus FC allowed token holders to choose the celebration song, and the team will now play "Song 2" by Blur after every goal.

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The Chiliz network uses the Proof of Authority (PoA) consensus mechanism to process transactions and maintain its blockchain. This is a form of Proof of Stake (PoS), where each validator node must put up a "stake" to process transactions.

Each validator node stakes their identity, not a cryptocurrency, which incentivizes them to behave in the best interest of the network. This is because they'll suffer from a negative reputation and lose their transaction processing privilege if they don't.

PoA nodes collect a portion of the network fees as rewards for their efforts.

Chiliz offers a range of features and benefits that make it an exciting platform for fans to engage with their favorite teams. One of the main attractions is the ability to earn Socios United (SSU) tokens by leveling up your profile, which can be exchanged for merchandise and other rewards.

By participating in the app, users can unlock achievements and earn experience points (XP), which ultimately lead to leveling up and earning SSU tokens. This is a great way to get involved and feel a sense of accomplishment.

The Token Hunt feature is another popular aspect of Chiliz, allowing fans to walk around their neighborhood and find their favorite teams' Fan Tokens using augmented reality (AR) technology. This gamified experience is reminiscent of Pokémon Go and adds a fun twist to the usual fan engagement experience.

Here are the main features of Chiliz:

The platform features of this app are designed to be engaging and rewarding for users. Users can unlock achievements by participating in the app, earning experience points (XP) and leveling up their profiles.

Badges are a key feature, allowing users to win experience points (XP) and level up their profiles. This unlocks Socios United (SSU) tokens, which can be exchanged for merchandise and other rewards.

A fun feature is the Token Hunt, an augmented reality (AR) game based on geolocation. Players can walk around their neighborhood and find their favorite teams' Fan Tokens.

The Predictor feature allows fans to bet on the outcomes of games and matches by locking up Fan Tokens. If they're correct, they win XP and climb the leaderboards.

The Locker Room feature is a unique way for fans to support their favorite teams. Fans can lock CHZ for 120 days in support of a specific team, earning a bonus if the team partners with Socios.com during that time.

Here are the platform features in a concise list:

Chiliz pioneered direct participation for average sport fans in the decision-making process of clubs and organizations.

The company offers limited supply fan tokens on a first-come-first-serve basis, with the opening price and fully diluted market cap disclosed beforehand.

Fans can vote on the Socios platform with their fan tokens, a process made possible using smart contracts, and clubs determine the amount of influence fans have.

Chiliz estimates to be at about 10% of its potential, despite the fact that it will likely have 80-100 teams as a part of its network by the end of 2021.

The company has a clear vision and a defined business strategy based on fan tokens, which has helped it attract investors and moderate the volatility in cryptocurrency markets.

Chiliz uses NFT technology to support sports teams and their fans, taking a leadership position in this area.

The Socios platform is an example of an innovative use of NFT technology, allowing fans to vote on decisions that range from new jersey designs to team matchups in exhibition games.

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You can buy Chiliz (CHZ) on Binance, Huobi, Coinbase, and many other exchanges. CHZ is also compatible with various wallets, making it easy to manage your funds.

You can store CHZ in an on-site wallet at chiliz.net, which is a minimal wallet suitable for sports fans. If you prefer a different wallet, you can use any Ethereum-compatible wallet, including hardware wallets like Ledger or Trezor.

Web wallets are a convenient option, but they can be less secure than hardware wallets. Kriptomat offers a free, secure storage solution that's user-friendly and enterprise-grade secure.

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You can buy Chiliz (CHZ) on various exchanges, including Binance, Huobi, Coinbase, and many others.

If you're looking for a specific option, you can buy CHZ on Bitstamp.

To get started, sign up for a Bitstamp account.

You can also find CHZ on other exchanges, but Bitstamp is a popular choice.

Make sure to research and understand the fees and terms associated with each exchange before making a purchase.

You can use any Ethereum-compatible wallet to store and access CHZ funds, including hardware wallets.

Chiliz has its own wallet at chiliz.net, designed for sports fans, not cryptocurrency experts.

You're free to use your existing wallet, but consider the security risks of "hot wallets" like web wallets.

Web wallets are convenient and accessible from desktop and mobile devices, but may not be the most secure option.

Look for a vendor with a good track record in security and custody if you choose a web wallet.

Hardware wallets like Ledger, Trezor, and KeepKey offer an extra layer of security, but come at a cost.

Kriptomat is a free, secure storage solution that combines enterprise-grade security with user-friendly features.

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Chiliz's current price is around $0.088064 USD, which is a relatively stable figure.

The 24-hour trading volume is a staggering $85,459,954 USD, indicating a high level of market activity.

Chiliz is currently ranked #118 on CoinMarketCap, with a live market cap of $810,786,001 USD.

The circulating supply of CHZ coins is approximately 9.21 billion, with a max supply not available.

Chiliz's price has seen a slight increase of 1.24% in the last 24 hours, a trend that's worth keeping an eye on.

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Chiliz was founded in 2012 as part of the Malta-based Mediarex Group, an international sports and entertainment organization.

In 2018, active work on the blockchain-based Socios platform began, and the CHZ token was launched in October of that year.

The first Chiliz partner was the Turin, Italy-based Juventus soccer club, which held its Fan Token Offering in November 2019.

Today, the Socios app has been deployed on the internet and on millions of mobile devices, and Chiliz has offices in France, Turkey, Spain, South Korea, and Brazil.

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Chiliz was founded in 2018 as a part of the Malta-based Mediarex Enterprises, a fintech and sports entertainment company.

Alexandre Dreyfus, a serial entrepreneur born in France, leads the Chiliz team as its CEO.

Dreyfus has over a decade of experience in sports betting and online poker prior to selling his company in 2012.

He co-founded Chiliz after various projects and investments.

Chiliz is backed by funding and support from the crypto industry, including Binance, Jump Trading, and the consulting arm of OKex.

The company raised $65 million through private placement sales of its tokens.

Chiliz was founded in 2012 as part of the Malta-based Mediarex Group, an international sports and entertainment organization. The company was initially focused on sports and entertainment, but it later shifted its focus to blockchain technology.

In 2018, Chiliz launched the CHZ token, which was soon listed on cryptocurrency exchanges around the world. This marked a significant milestone for the company, as it began to expand its reach and influence in the cryptocurrency space.

Chiliz has partnered with numerous sports teams, including Juventus, Paris Saint-Germain, and Barcelona. These teams have launched their own fan tokens, which allow fans to participate in decision-making processes and engage with their favorite teams in new and innovative ways.

The Socios app, developed by Chiliz, has been deployed on the internet and on millions of mobile devices. The app allows users to buy, sell, and trade fan tokens, as well as participate in various activities and events.

As of May 2022, Socios.com listed 50 fan tokens that are currently in circulation. This is a testament to the growing popularity and adoption of Chiliz's technology and platform.

Here is a list of some of the sports teams that have partnered with Chiliz:

Corinthians

These partnerships demonstrate the company's commitment to innovation and its ability to bring together sports teams, fans, and technology in new and exciting ways.

To use Chiliz, you can participate in the Socios fan token economy, which allows you to purchase fan tokens for your favorite teams and establish a relationship with them.

You can visit the Socios marketplace to get started, it's easy to navigate and purchase tokens.

Fan tokens can also be earned by serving as a matchmaker between Socios and new team partners.

Chiliz has developed a robust analytics and tools platform to support its ecosystem. This platform provides real-time data and insights to help users make informed decisions.

The platform includes tools such as the Chiliz Index, which tracks the performance of various sports teams and leagues, and the Chiliz Wallet, which allows users to manage their cryptocurrency holdings.

By leveraging these analytics and tools, users can gain a deeper understanding of the sports and entertainment industry, and make more informed investment decisions.

The Chiliz Calculator is a tool that helps you calculate the price of fan tokens. Prices for fan tokens rise and fall according to team popularity and the laws of supply and demand.

You can earn more influence over decision-making by acquiring more of a team's branded NFTs. If you have a team-branded NFT, you get a vote, and if you have two NFTs, you get two votes.

Teams can offer additional benefits for token holders, such as premium seats at events or team-branded merchandise. These benefits are designed to create a closer relationship between the team and its fans.

As a token holder, you can participate in polls and influence team decisions. The more NFTs you have, the more votes you have, and the more influence you have over team decisions.

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