Ah! Chiliz! You don't know yet? Tell yourself that it is the leading blockchain in the field of sport. It is entirely dedicated to the creation of applications related to all forms of sport. The blockchain has its native token which is also called Chiliz (CHZ).
Today, we will focus on the application created on Chiliz, namely socio.com, which is experiencing growing success. You should know that the Chiliz token (CHZ) is the official token of the Socios.com application which is dedicated to football supporters.
Chiliz has indeed experienced what we can call a nice increase of +1700%. For many investors, it is a crypto that shows promise in the future.
In this article, we present to you what you need to know about Socios and how the Chiliz token works in this entire eco-system.
Above all, we will see how Chiliz wants to transform (at least improve) the world of football and supporters with blockchain technology. We will also show you how it brings a new way of monetizing this sector.
What is Chiliz (CHZ) crypto?
Chiliz was created in 2016 but it was only in 2018 that we had the successful form we currently know. The team raised nearly $66 million from private investors. It was from there that they immediately decided to create Socios. This was launched in 2019.
Chiliz is a blockchain used for services and products related to the sports field. Chiliz is interested in all sports even if today, it is mainly football that is represented. In a short time, we will not be surprised to see its use extended to other sports.
As of October 2018, an amount of 8,8 billion Chiliz tokens (CHZ) were distributed to the first contributors. Very quickly, the CHZ token was listed on several major platforms, including Binance. The first known club to join Socios was the legendary Juventus.
Currently Chiliz has more than 80 employees and Socios has more than 20 official partners with more than ten fan tokens launched during FTOs (Fan Token Offering).
It is also important to tell you that the company has set up the "Chiliz Blockchain Campus" which serves as a crypto incubator hub. Located in Malta, the Chiliz campus helps and supports sports-related projects. If you have a project to launch, frankly, do not hesitate to contact them. Apparently, the atmosphere is very friendly 😉
Understand that on the Socios app, there are two main tokens that we use. The Chiliz token (CHZ) of course and the fan tokens. These are the club tokens. Each club has its own token. We explain how it works further down in this article, don’t worry.
Understanding the Chiliz Token (CHZ)
To fully understand this entire ecosystem, you must also and above all understand the Chiliz token (CHZ).
So, know that it is a utility token compatible with ERC-20 and BEP-2 (on the Binance Smart Chain).
The Socios app works with the CHZ token. It is with this token that we can carry out basic transactions on the application. For example, you can buy fan tokens directly on the application exchange in exchange for CHZ. Basically, you need to own CHZ to buy fan tokens.
(No need to explain to you with A plus B why the increase in CHZ is coherent and logical and why, in our opinion, it remains a solid investment). In fact, the increase in the price of CHZ is perfectly consistent with an increase in users observed in 2021.
At the time of writing this article, CHZ has a market capitalization of EUR 1 with a rank of 203th. Its all-time high was reached in April with the price reaching $761.
The total supply is set at 8 and today the circulating supply is at around 888%.
What are Fan Tokens used for?
It’s true that this is the basic question that we can ask ourselves. Each launch of a new token from a club is called an FTO. It's a bit the same thing as with an ICO or an IDO. You can buy the tokens at a lower price during launch. This is for example what we do on zonebitcoin, we buy fan tokens almost as soon as we can during FTOs.
This allows us to be able to record greater capital gains when they are listed on the platforms.
On your application, you are shown the next FTOs in which you can invest and buy fan tokens.
Investing in fan tokens on Binance directly?
Interesting note: Binance is one of the investors in the project. In fact, we also find the launch of FTOs on the platform! This is an essential partnership for Socios as you can imagine. For example, the next FTO concerns the FC Barcelona fan token which can therefore also be found on Binance, in the Binance Launchpool tab. To do this, you must go to the tab Binance Launchpool therefore and own BNB, BUSD or even Chiliz token upstream.
Besides, if you didn't know, know that you can also directly buy CHZ token and other fan tokens like that of Juventus (JUV) and that of PSG (PSG).
Presentation of Socios.com
The app was developed to create unique experiences for football fans. It aims to put supporters and football clubs in direct contact. Several football clubs (and not the least), sports companies and recognized athletes are involved in the project. Among the clubs registered on the application, we find Juventus, Paris Saint Germain, AC Milan, to name a few! We must also tell you that the Ultimate Fighting Championship (UFC), which is the mixed martial arts organization, is also part of Socios!
This is also what made the application known exponentially. The big clubs have brought credibility to the company, that’s a fact. Likewise, new clubs regularly enter Socios, bringing ever more people.
So, how do we actually interact with clubs, eh?
When you have fan tokens, well, you can communicate and interact with the club in question. You can participate in surveys offered by the club. We can give our opinion on different things and we can also buy club merchandising products. Users have rewards like being invited to specific events, etc. Some times, fan token holders can meet members of the team. It's rare but it can happen depending on the good heart of the club.
The Chiliz Exchange
When you download the application, you have a tab with an exchange on which you can exchange your CHZ for fan tokens of your choice. It’s an intuitive and simplified exchange. It has been designed so that beginners can easily use it. This is indeed the case. Good job guys! You can also buy by credit card/or by sending cryptos, CHZ tokens.
You should also know that there is a dedicated exchange specific to Chiliz (accessible here).
Final word on Chiliz crypto and Socios:
We still have to admit - between us - that Socios is a project that slams its mother, right? Frankly, it modernizes the ecosystem of clubs (football and other sports) and puts the fan at the center.
He is not drowned in the different information on social networks, he is notified exclusively and he has a real voice in this universe where until now, he was drowned in the mass.
Likewise, from an investor's point of view, investing in Chiliz means investing in a company that wants to be solid with real meaning and real usefulness. Should we remind you that on zonebitcoin, we only invest in projects that make sense?
The Chiliz token has increased enormously in value in a short time. We can imagine what it will be like when other clubs enter the ecosystem. Also imagine during major football events like the World Cup!
It's really an exciting project, isn't it? We realize that there are lots of things to do in sport, and that it's not just about bitcoin sports betting!
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Disclaimer: This is not investment advice. This is general information. Do your personal research before investing.
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