What is Chiliz? Chiliz is the leading platform for sports and entertainment, providing the world’s first blockchain-based fan engagement and rewards Socios.com. So what’s special about Chiliz? Let’s find out with Weakhand in this article.
To understand more about Chiliz, people can refer to some of the articles below:
- What is Ethereum? All About Ethereum
Chiliz Overview
What is Chiliz?
Chiliz is the leading platform for sports and entertainment, powering the world’s first Blockchain-based fan engagement and rewards platform Socios.com launched in 2018.
Chiliz is a subsidiary of the Malta-based Mediarex Group, a global sports and entertainment organization founded in 2006. Now, Chiliz’s team includes more than 350 professionals across 27 countries. together. The company’s vision is to bridge the gap between active and passive fans, providing millions of sports fans with a Fan Token that acts as a tokenized piece of influence.
Mechanism of action of Chiliz
Operation principle
Users can use CHZ (Chiliz) tokens to purchase Fan Tokens created by sports clubs through chiliz.net or socios.com
After that, this amount of Fan Tokens can be used to participate in exclusive discussions and votes to make important decisions for each club, in addition, the holder can also receive rewards. Participation rewards include tickets to the match and player autographs.
The Socios platform is built on top of the Chiliz blockchain infrastructure. Previously, Chiliz blockchain used the Proof of Authority (PoA) algorithm and applied oracles (Chainlink) to operate on its blockchain.
However, on May 10, 2023, the platform launched a completely new upgraded blockchain aka Chiliz Chain 2.0 that uses the legacy and open Proof of Staked Authority (PoSA) consensus algorithm. Extensive with features such as:
- Provides more security and safety for Validators.
- A distributed system with on-chain governance.
- Compatible with EVM. It supports all existing Ethereum engines along with faster finality and reasonable transaction fees.
- Interoperable with Ethereum Mainnet and other chains in the future.
Thanks to the above features, the CHZ native token runs on the Chiliz 2.0 chain in exactly the same way as the ETH token runs on Ethereum. This means that CHZ can be used to:
- Pay gas to deploy or call smart contracts.
- Perform cross-chain operations, such as transferring token assets on Chiliz Chain and Ethereum.
- Secure the network by staking or delegating it.
Products and features that have been, are being, and are about to be deployed
On the chiliz.com website, statistics from the time of launch until now, the platform has launched more than 100 Fantoken tokens of sports clubs, more than 150 partners, more than 2 million users worldwide. Socios. And more than 1 billion in capitalization is listed at fanmarketcap.com
- Socios.com powered by Chiliz Chain, eliminates the risk of counterfeiting by implementing each item with an NFC chip and storing its data on the blockchain, allowing the owner to verify authenticity and ownership by smartphone.
- Socios provides sports and entertainment organizations with a branded Fan Token and fan engagement platform to help them engage and monetize global audiences more effectively. Currently 25 major sports/esports organizations, including FC Barcelona, Juventus, AC Milan, OG, Paris Saint-Germain, Manchester City and Professional Fighters League have all launched Fan Tokens on this platform. Many other top entertainment and sports properties from around the world will launch Fan Tokens in the near future.
Investor
- June 8, 2018: Private sale successfully raised $65 million with more than 3 billion tokens sold led by Binance Labs and besides FBG Capital, OK Blockchain Capital and Ceyuan Ventures.
- April 7, 2021: Private sale round led with Jump Trading.
- March 1, 2023: The project announced a $50 million investment by Jump Crypto.
Core Team
The Chiliz team includes nearly 350 multidisciplinary experts of 27 different nationalities and is constantly growing. Some core members of Chiliz’s development team include:
Alexandre Dreyfus: CEO
- He is a website serial entrepreneur with over 22 years of experience in the digital field, building and developing technology businesses. In the late 1990s, he pioneered the field of web-based, interactive tools and web-based instructions, before completing an acquisition with retail giant Carrefour and subsequent merger with another service provider. competitor’s services and sell them to Yelp.
- In 2006, he co-founded Winamax (France’s largest online poker room) and later this technology platform was sold to Bally Technologies (now Scientific Games).
- In 2013, he acquired Global Poker Index (the leading rating agency of live Poker) as well as The Hendon Mob (the world’s largest live poker database).
- To promote blockchain innovation in Malta, he also established the Chiliz Blockchain Campus – an accelerator and industry hub connecting some of the largest industry stakeholders across Asia and Europe, along with other emerging blockchain entrepreneurs.
Emma Diskin: COO
- Since 2010, she has been the head of communications leading the development and launch of social media channels for The National Lottery, with overall responsibility for driving digital innovation in the business industry.
- Until 2014, she worked mainly with technology startups and online banking, especially focusing on Instagram, Facebook and Twitter.
- Then in 2016, she became director of PR & Social Media, responsible for strategic communication plans for more than 24 brands in the Betsson group in 15 markets.
- With that extensive experience, in 2018, she became the marketing and communications director for Socios.com until now.
Max Rabinovitch: CSO
- In 2011, he took on the position of Creative Director for United States Playing Card (Bicycle Brand) & Morton Salt.
- During those years, he also participated in product campaigns for famous brands such as McDonalds (California), Nestle Brands, Sony Entertainment Network & Lux.
- Then in 2018, he joined the Chiliz team as a strategic officer, responsible for devising business strategies and commercial leadership, releasing the project’s white paper.
Tokenomics
Basic information about Chiliz tokens
- Token Name: Chiliz.
- Ticker: CHZ.
- Blockchain: Chiliz Chain, Ethereum, Solana, BNB Beacon Chain.
- Standard: ERC-20, BEP2
- Total supply: 8,888,888,888 CHZ.
- Contract: 0xC94c4Ec62a59fCF4964873cC6529559Cc7717388
Token Allocation
The total supply of CHZ tokens will be distributed as follows:
- Private Placement: 34.5%
- User Base Reserve: 20%
- Marketing Operation: 15%
- Strategic Acquisition: 15%
- Team + Seed Investor: 12.5%
- Advisory Board: 3%
Token Release
Currently, CHZ’s supply has been almost completely unlocked and has been paid back to the original investors.
Exchanges
Currently CHZ is present on almost all major electronic exchanges such as: Binance, Coinbase Exchange, Bybit, OKX,…
Chiliz’s Information Channel
- Website: https://www.chiliz.com/
- Twitter: https://twitter.com/chiliz
- Discord:
Summary
Blockchain in the sports industry is growing at a very rapid pace. Along with that comes the potential to expand and attract thousands of billions of dollars from big players in the sports industry as well as influential figures and their fan base.
Although Chiliz is not the only platform on the market in this field, it has been preparing for many years and has a large number of partners at present. This project is the flagship that has changed the way the sports world operates through the Blockchain and NFT space. It has been and is the platform with the best growth rate. Along with the project just calling for an additional $50 million from the Jump Crypto fund in 2023, it promises to be very explosive in the upcoming bull market period.