SINCE the launch of Bitcoin in 2008, blockchain technology has started to disrupt almost every sector and Chiliz (CHZ) has now started to gain traction in the sports and esports industry.
Here’s everything you need to know about Chiliz, from what the cryptocurrency is to price predictions.
What is Chiliz?Chiliz was launched in Malta in 2018 and is a cryptocurrency and payments platform for blockchain-based applications and services targeted at mainstream consumers.
It acts as a community engagement network which enables companies in the sports industry to commercialise customer engagement.
Chiliz aims to provide millions of sports and esports fans with a coin they can use to purchase direct voting rights in their football clubs.
As a result, supporters stop being passive spectators and start to become participating members of a community.
For example the PSG fan token is a form of cryptocurrency that allows PSG fans to be more involved in decisions surrounding the club.
Using the app Socios.com which is available on iOS and Android, owners of the PSG fan token can help choose the design of the team bus, what message goes on the captain’s armband and the design of the curtain in the players’ tunnel.
Fans can also choose the goal of the season and vote in the end of season awards.
Like Bitcoin and Ethereum, fan tokens can be traded on exchanges.
The Chiliz Token (CHZ) runs on the Ethereum blockchain and is used as the official cryptocurrency of the Socios.com platform.
Socios.com and Chiliz both need the CHZ token to function.
The CHZ token is the primary currency on the Chiliz blockchain.
Any transaction on the Chiliz blockchain requires CHZ payment.
This includes both tokens being traded on the Chiliz Exchange and the fan voting system.
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.
CHZ was then publicly listed.
At the end of December 2019, Chiliz launched the fan influence and rewards app called Socios.com.
Juventus was the first club to start issuing its own fan tokens (JUV) on Socios.com.
Chiliz (CHZ) price predictions 2021, 2022, 2024, 2024 and 2025How the value of Chiliz (CHZ) will change moving forward is impossible to know for certain.
WalletInvestor, an algorithmic forecasting platform, predict by the end of 2021 Chiliz will be trading between $0.37 and $0.56.
By the end of 2022, they expect the price to be between $0.69 and $0.94.
Between $0.94 and $1.38 by the end of 2023, between $1.15 and $1.90 by the end of 2024 and between $1.33 and $2.40 by the end of 2025.
Meanwhile, DigitalCoin predict Chiliz will reach $0.60 by the end of 2021, $0.68 by the end of 2022, $0.82 by the end of 2023, $0.97 by the end of 2024 and $1.14 by the end of 2025.