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Chiliz (chz)

What is Chiliz ?

Chiliz built the Socios.com sports fan engagement platform on the Chiliz blockchain infrastructure. It utilises chiliz crypto as the platform’s exclusive currency.

It aims to elevate the everyday experiences of the fans through entertainment, non-traditional payment methods for conventional products, and so on. Chiliz provides blockchain-based tools to assist sports and entertainment entities in engaging and monetising their audiences.

Alexandre Dreyfus is a seasoned entrepreneur who has worked in the gaming and sports sectors for years as the Founder and CEO of Chiliz and Socios.

Primary features of Chiliz

  • Chiliz is an Ethereum-based ERC20 utility token that serves as the platform’s digital currency.
  • CHZ is the network’s own digital money. The Socios.com fan interaction platform powers it.
  • It allows fans to purchase and exchange branded Fan Tokens while also participating in club-specific surveys and polls.
  • Fans may buy Fan Tokens from a variety of sports teams, including FC Barcelona, PSG, Juventus, Atlético de Madrid, AS Roma, Galatasaray, OG, CAI, and the UFC.
  • The Chiliz blockchain is used to mint the fan token, and all voting on the site is handled via a series of smart contracts running on the Chiliz blockchain.

Is Chiliz a promising cryptocurrency?

Chiliz raised the entire required amount of over $66 million in 2018. So, they may not come out for a public issue. But, you can buy Chiliz on various crypto exchanges like CoinSwitch Kuber.

How to use Chiliz coins?

  • The Socios Platform allows users to vote.
  • It acts as a link for Fan Tokens (through Fan Token Offerings). Fans must buy Chiliz crypto to get Fan tokens.
  • One can purchase gamified items, as well as in-app games and challenges through Chiliz coins.
  • You may sell your Chiliz token to someone who needs it. You can swap Chiliz for other cryptocurrencies like Bitcoin or Ethereum to sell it more easily.

Pros & Cons of Chiliz coin

Pros

  • Chiliz is a fan interaction platform where you may spend money supporting your team and influencing specific choices and other aspects of the game.
  • This website has a better user experience, such as identifying your PC, regardless of how long you leave your account inactive. 
  • The more votes a fan casts, its rating increases and followers get more advantages such as access to exclusive merchandise, prediction games, and more.

Cons

The Socios platform is built on top of two distinct blockchains: a sidechain that has been granted permission and Ethereum’s primary blockchain. Investors have raised the issue of centralisation because the permissioned sidechain is a private rather than a public chain, investors have raised the issue of centralisation.

Trade Chiliz coin on CoinSwitch kuber

  • You may begin investing and trading with as little as Rs.100.
  • Allows for immediate withdrawal and deposit to other bank accounts.
  • No fee for trading in Chiliz through CoinSwitch Kuber.
  • Simple and intuitive user interface.
  • Easily monitor and manage your transactions and portfolio.

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Highlight

Chiliz provides blockchain-based tools to assist sports and entertainment entities in engaging and monetising their audiences.