I have written in the past about how important I believe the connection between sports and cryptocurrency will be. Chiliz is a token that is bringing that connection into reality right now.
What Is It?
Chiliz runs on the blockchain platform called Socios and their goal is to essentially increase fan engagement with their favorite teams by offering up team tokens that fans can invest in for exclusive team benefits.
The Chiliz token powers the blockchain and is an essential part of on chain governance and transactions.
Here's a small description from Coinmarketcap:
Chiliz is the leading digital currency for sports and entertainment by the eponymous Malta-based FinTech provider. It operates the blockchain-based sports entertainment platform Socios, which enables users to participate in the governance of their favorite sports brands. Multiple fan tokens by Socios.com are an example of that. For sports clubs and associations, fan tokens offer a way of connecting with their fans and unlocking new revenue streams.
For instance, fans can participate and influence club-related decisions through surveys and polls, such as messages the captain should wear on his armband. The company aims to bridge the gap between being an active and a passive fan. Chiliz has developed partnerships with some of the biggest sporting institutions in the world: FC Barcelona, Manchester City, Juventus Turin, and Paris Saint-Germain. It also boasts partnerships with the UFC and gaming organizations. By purchasing CHZ, fans get access to various fan tokens and literally have a stake in their club.
The Token
Here is some token info from Coinmarketcap:
The token is down quite a bit from the all time high despite consistently adding teams to their fan token offerings including NBA teams such as the Miami Heat and Indiana Pacers.
Chiliz is actually available now on Coinbase. The Coinbase effect isn't what it used to be for cryptocurrency, but it still feels good to see that the token is supported by such a large player in the field (they need to get themselves in gear and list Hive next though still).
The Future:
I tried to reach out to Socios once for the @dunksocial platform because I believe that their mission intersects well with that of what we do here on Hive: we are looking to increase personal agency in the things that we love.
I think Chiliz could be enormous as the governance token behind these fan tokens. I am not sure how good of an investment it will end up being for the individual team tokens as they will all have different benefits to offer, but since Chiliz is the token powering the blockchain I feel confident that it will have a strong future.
@sgt-dan with this sick pic:
@gr33nm4ster made this awesome gif I needed to share, we thank him as well!:
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Hey Rob, dunksoical.io seems to be down. Just FYI.