As cryptocurrencies compete to influence the future of finance and technology, it becomes an exciting challenge to find the future world’s needs and introduce solutions. Chiliz is one futuristic project focused on the financial aspects of sports and entertainment platforms.
What is Chiliz?
Chiliz is a cryptocurrency that focuses on sports, e-sports, and entertainment platforms. It can be adopted in many other industries as well. Chiliz is a platform that allows industries, organizations, or sports teams to create their very own fan tokens, which could be used within the community for exchange purposes. Already some notable partners are using Chiliz platform to promote their Tokens. Barcelona FC, Paris St. Germain, and Juventus F.C. have issued their fan tokens tradable on the Chiliz exchange. Chiliz application also allows teams and organizations to set their offline fan base with merchandise and giveaways. Chiliz tokens run on both Binance Chain and Ethereum. Chiliz has developed the Socios.com fan engagement platform, and it uses Chiliz tokens (CHZ) as its native token. In short, Chiliz provides sports and entertainment entities with blockchain-backed products and tools to better engage their audience.
What is Socios.com?
Socios.com is a fan engagement platform entirely built-up on the Chiliz platform and infrastructure, and it uses CHZ as its on-platform currency. On Socios.com, fans can buy tokens and engage in activities with some of the world’s most notable teams and organizations. Engaging audiences in the sports and entertainment industries has never been more accessible in history.
Now fans are just a few clicks away from financially interacting with their favorite team. Fan tokens on Socio.com make it possible for fans to vote for certain polls with their teams, apply for exclusive promotions, use AR-enabled features and chat forums, and be eligible for rewards and recognition. Fan tokens on Socio.com are minted using the Chiliz blockchain.
All on-platform voting is performed through a series of smart contracts running through the Chiliz blockchain. Socios.com has the potential to engage fans from all over the globe like never before while maintaining speed and security. Socios.com started its activity in late 2019. Juventus F.C. was the first team to adopt its tokens on the platform shortly afterward. Other teams gradually joined. Within a year, Atletico de Madrid, Galatasaray, A.S Roma and F.C. Barcelona were also among Socios.com partners. Many others are on the way to utilizing the Chiliz network.
Inter Milan and Valencia C.F. will promote their fan tokens on Socios.com from the 2022 season. Argentian and Portugal national teams have joined the network as well. In the premier league, Man City, Arsenal, Everton, Leeds, and Aston Villa have decided to join the network and promote their fan tokens and merchandise through Socios.com. Chiliz network is not limited to football, however. Formula One pioneers, UFC, and leading sports teams in other fields are also getting on board. Socios.com is becoming more and more popular across the U.S., and particularly in NBA. Since the beginning of 2021, an incredible number of teams and entertainment organizations across the globe have joined the network, and the number is increasing rapidly every day.
More than one million fans are using tokens now to interact with their favorite teams. Yet, Chiliz claims to have achieved only %10 of their potential. Apart from Socios.com, multiple other supporting platforms make fan tokens more transparent and exciting. On Fanmarketcap, for example, details of each fan token such as daily volume, market cap, prices, and circulating supply are visible. In Socios Journal, fans can find relative information about supporting exchanges, developments, and general information on each fan token.
Currently, the Chiliz network has affiliates in many countries around the world, such as Spain, Malta, France, Turkey, Brazil, and South Korea, and they’re planning to extend the number of their offices. Chiliz will open new fan bases and offices in North America and U.K. soon.
Moreover, Chilliz is looking to expand the use of CHZ and fan tokens globally. Another bold project underway will be FanTokens.com, a platform to give more visibility to CHZ and fan tokens and transform the way fans and teams engage.
Chiliz first B2C product launched natively on Socios.com can host scalable, tokenized, digital fan bases for more than 70 global sports I.P.s and over one million registered users. This is proof that Socios.com can host mainstream fan-based blockchain products in the real world. This potential is not limited to sports and can be custom-made to fit other industries. Chiliz is now pledging to invest 60 million USD in launching a series of platform experiences outside the world of sports and socios.com. The whole foundation is meant to be a transversal technology company. They claim socios.com to be just a start, opening the way for other Chiliz based platforms and ecosystems.