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Chiliz (CHZ) review: where and why to buy the coin
Chiliz is one of the most popular coins on the digital collectibles market. Being benefited by the hype around the NFT market, CHZ has found its niche as a digital asset for sports fans.
What is Chiliz
Chiliz is a digital currency for sports and entertainment platforms. It allows crypto enthusiasts and traders to buy and sell branded Fan Tokens. Chiliz provides sports and entertainment entities with blockchain-based tools to help them engage and monetise their audiences.
For instance, users can buy Fan Tokens from international sports teams and organisations, including football teams such as FC Barcelona, Juventus, AC Milan, Paris Saint-Germain, Atlético de Madrid, AS Roma, Galatasaray and many others. Fan Tokens are limited in number, and are fungible, meaning their ownership can be traded, and their price is driven by the market. Fan Tokens can be used for voting in a series of polls and receiving special promotions and rewards on the Socios.com platform.
Who created Chiliz
Chiliz is owned by Malta-based Mediarex Group, a global sports and entertainment organisation, which was founded in 2012. In October 2018, Chiliz generated 8.8 billion CHZ. Later on, CHZ was publicly listed on major cryptocurrency exchanges, including EXMO.
At the end of December 2019, Chiliz launched the fan influence and rewards app called Socios.com. Juventus became the first club to start issuing its own Fan Tokens (JUV) on Socios.com, holding a Fan Token Offering and giving its fans the chance to vote on the Blockchain.
How it works
CHZ is an ERC20 utility token on the Ethereum blockchain. This digital asset can be used for buying branded Fan Tokens on the Socios.com platform. Such tokens are issued by many popular sports clubs and teams. Fan Tokens, purchased with CHZ, allow users to influence their teams via popular vote and become eligible for engagement-based team rewards and recognition.
Main features and advantages of Chiliz
Chiliz is a promising digital asset for passionate sports fans and crypto enthusiasts. It allows users to buy Fan Tokens which provides them with exclusive benefits and helps to support their favorite sports teams.
In March 2021, CHZ’s price increased by 1,650% just in two weeks being triggered by NFT hype. According to Messari, this allowed Chiliz to hit TOP 30 of the fastest growing cryptocurrency coins so far in 2021.
Based on CoinMarketCap data, CHZ was the second most popular coin among collectibles and NFTs crypto tokens on 5th May 2021.
How much is it worth
Chiliz price hit a record high of $0.8915 on 13th March 2021. At the beginning of May 2021, 5,586,355,378 CHZ were in circulation or 63% of their total supply.
You can see the current CHZ/BTC rate on the interactive chart.
How to buy Chiliz
You can buy CHZ with credit, debit card and vouchers on Socios.com or directly via EXMO crypto exchange. Currently, CHZ can be traded on EXMO in pairs with Bitcoin on favorable terms with a good market spread.
Trading signals for Chiliz (CHZ)
Check out the latest data on the current CHZ crypto market sentiment as well as the coin’s price correlation with bitcoin in real time provided by IntoTheBlock.
What is expected of Chiliz
Due to the increasing NFT popularity, CHZ is expected to benefit from further development of the NFT market, as well as the digitalisation of fan engagement. According to World Atlas data, there are billions of sports fans all around the world who can be the possible target audience of Chiliz. The project allows them to support their favorite teams directly by purchasing digital collectibles for CHZ.
In March 2021, Chiliz’s CEO, Alexandre Dreyfus, shared the company’s plans to invest $50 million in its expansion in the United States. Entering such a huge market might result in Chiliz’s new partnerships with American sports clubs and teams, which will probably attract new customers and increase demand for CHZ, as well as its price.