Chiliz
Chiliz is a cryptocurrency and payment platform used for blockchain-powered services and goods aimed at general users. Chiliz, which is mostly used in sports, particularly football, allows unique fan interaction experiences that enable companies operating in the industry to encourage and pay for audience participation.
The fan interaction site Socios.com is powered by the Chiliz blockchain. Fans can buy fan tokens of their favorite teams on Socios.com using the CHZ token, use these tokens to cast votes for their teams in polls and surveys, participate in the governance and decision-making of their preferred sports companies, and turn into active followers. For sports teams and organizations, Chiliz provides a number of ways to improve and monetize fan engagement.
Chiliz was created in 2012 as a division of the worldwide sports and entertainment company Mediarex Group, located in Malta. The blockchain-based Socios platform began its active development in 2018. The CHZ token was introduced by Chiliz in October 2018.
Chiliz was established by its current CEO, Alexandre Dreyfus. Dreyfus has more than 20 years of expertise in creating and developing web-based businesses. Before creating Chiliz in 2017, he created Webcity, an interactive travel guide, as well as Winamax and Chilipoker, two online poker projects.
The Socios app and website were launched by Chiliz at the end of December 2019. A $66 million investment from Private Placement creation.
Chiliz thinks that in the present state of sports and esports, fans have little control over their preferred players or teams. The desire to "engage" followers as influencers does exist, though. Chiliz wants to provide a platform where fans can interact, support emerging sports and esports organizations, and give direct votes for their favorite sports teams.
The aim of the Chiliz project is to set the standard for all sports lovers worldwide. To make Chiliz the center of all its activities, Socios.com and HX Entertainment Limited, a company engaged in the area of arranging sports and entertainment events, came up with this idea.
Proof of Authority (PoA) - Proof of Authority (PoA) is a consensus technique that differs from Proof of Work and Proof of Stake in that it relies on a smaller group of authorized verifiers rather than a widespread network of anonymous nodes to maintain the network's authenticity.
Oracles- Chiliz has formed a partnership with Chainlink, a decentralized oracle network that gives smart contracts access to real-world data. Through this collaboration, Chiliz wants to develop unique non-fungible tokens (NFT) for remembering significant occasions like player milestones or championship victories in almost real-time.
The use case of Chiliz tokens are:
· Chiliz acts as the primary crypto asset that drives the Socios.com platform.
· Chiliz allows sports teams and other organizations to develop their own fan token, which can then be used as a means of trade within the community.
· Fans join the crowd-managed decision-making process for the organization they have decided to support when they visit the Socios.com platform, purchase Chiliz tokens, and then use them to utilize their voting rights.
· Sportsmen and sports teams can interact with their loyal fan base in a manner that has never been possible before by using Chiliz.
DATE NEWS/EVENTS IMPACT 22/08/2022 Chiliz founder Alexandre Dreyfus announced to stop utilizing the Ethereum blockchain and replace it with its own native chain, CHZ 2.0 +33% Increase 27/10/2021 The launch of live in-game NFTs and a fast-growing ecosystem drove up the price of CHZ and highlighted the project's strong foundation +70% Increase 18/05/2021 China prohibits financial and payment institutions from offering cryptocurrency services -48% Decrease 07/03/2021 Recent boom in NFTs takes Chiliz to higher levels +275% Increase
The use of blockchain in the sports sector is rapidly expanding. Blockchain has been observed to become more significant in the financial, insurance, music, and art sectors. However, the sector is starting to realize the potential blockchain holds for fan engagement and creative experiences.
The project Chiliz has a future and a really appealing goal. It has an excellent reputation in the world of cryptocurrencies and in the sports world, where people are interested in this kind of technology and what it can do. This is because it has become the most popular example of fan tokens on the blockchain. Chiliz and its partners are investing a lot of money in the expansion of this ecosystem, thus the future for this market is promising.
