In this ChiliZ review a deep dive into the decentralized network, it’s token(CHZ), and the way sports fans can benefit from it.
Chiliz Review: Introduction
The global sports market is worth in the region of $550 billion today. Moreover, billions of passionate fans around the world contribute heavily to the influx of revenue through ticket purchase, stock sales, jersey sales, etc. The turnout of results and revenue of any sports team is usually attributed to its decision making both on and off the field. Also, in most sports teams, business decisions are made by the board of directors, stakeholders or owners while coaches make gameplay decisions.
For the fans, who are always watching their favorite teams compete and emerge victoriously, presents an unparalleled level of joy; how much more the dream opportunity to make decisions?
Virtually every diehard sports fan has relished the opportunity to be at the helm of affairs, especially when their team is in a dire situation. If you’re such a fan, then your dream has become a reality. Therefore, in this Chiliz review, the ultimate opportunity for sports fans to participate in the decision making of their favorite sports team.
First of all, Chiliz is a blockchain-based platform that enables fans around the world to influence decisions in their favorite sports team. Moreover, Chiliz is centered around the need to empower fans to engage in active decision making. Therefore, by empowering fans through funding, sports teams are able to grow faster with the help of their own fans!
Chiliz recognizes the impact of fan engagement on the revenue and overall development of the sporting industry. To this effect, it leverages blockchain technology to build an ecosystem where passive industry participants (fans) become core players (decision-makers)
Fans can get to vote on crucial issues relating to their team and the entire league. For example, a fan can vote on players to feature in an upcoming game from a pool of eligible players. Tournament format and new game modes can also be decided on by fans, especially in cases where there is a conflict of interest.
The Global Player League (GPL) is the first fan-controlled application to run on Chiliz. It is a city-based esports league that is fueled by CHZ token. Additionally, the league features different teams vying for the top spot on the back of decisions made by its fanbase. Correspondingly, fans must purchase chiliZ tokens to acquire votes. Finally, these votes can be exchanged for Chiliz(CHZ) token in the Voice marketplace.
Furthermore, the competitive spirit on Chiliz is not limited to esports teams only. Firstly, fans on the platform can battle for superiority in P2P game battles and leaderboard leagues available on the platform. They can also interact with each other via in-app social tools. Besides, these tools are designed to facilitate radical fan engagement and to improve user experience.
Features and Benefits of ChiliZ
- Allows fans democratically control their favorite teams
- Direct interaction between fans and teams
- Highly scalable platform
- Easy crowdfunding for new sports and esports entities when necessary
- Promotion of fan interaction through multiplayer gaming and leaderboard
- Smart contract-backed transactions for transparency and immutability
- Topnotch security
- Profit-sharing for affiliated teams and leagues
- Low service fees
What’s new on Chiliz(2020)
Since the start of 2020, the ChiliZ blockchain network has launched a new app available for download on mobile phones. The app is available on socios.com for download. Socios.com is the official crypto wallet and trading exchange for cryptocurrencies of the biggest sports teams in the world like FC Barcelona, Juventus, Paris Saint-Germain, Atletico Madrid, Galatasaray, AS Roma, Independiente and much more. Users can buy/sell/trade these tokens where CHZ is the fuel being used.
The ChiliZ (CHZ) token is the traditional token that fuels the network. Furthermore, it is a utility token built on the Ethereum platform (ERC20). Firstly, this choice is based on Ethereum’s well-established community. Also, it consists of a wide range of compatible consensus algorithms and high performance on ‘permissioned chains‘.
Chiliz(CHZ) numbers & details
|Total amount raised for ICO||66.000.000 USD|
|Total number of tokens||8.888.888.888 CHZ|
|Emission rate||No further tokens will be created|
|Circulation supply||4.567.138.626 CHZ|
|Nominal price||1 CHZ = 0.032 USD|
Where to buy Chiliz(CHZ)
ChiliZ esports network with its token CHZ is already available at several bigger cryptocurrency exchanges. Below the places to go with the highest trading volume:
|Exchange||Trading pairs available|
|Binance||CHZ/USDT, CHZ/BTC, CHZ/BNB|
|Bitpanda||CHZ/EUR, CHZ/CHF, CHZ/USD, CHZ/GBP, *Swap(!) any token|
*Swap: Bitpanda exchange allows you to ‘swap’ your CHZ token to any other crypto token available on the platform.
When the tides are against our favorite team, we all wish we can do our bit to bail the team out. As fans, however, playing passive roles on the sidelines is the norm in the industry today. In this Chiliz review, we tried to explain the alternative based upon blockchain technology.
ChiliZ seeks to empower fans by enabling them to vote on important decisions crucial to the growth of their team.
Information and resources
DISCLAIMER: Trading in cryptocurrencies involves substantial risk of loss and is NOT suitable for every investor. Any content on this site should not be relied upon as advice or misconstrued as providing recommendations of any kind. We are not investment advisors or analysts. Everything provided here is purely for informational and educational purposes.
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