In the current cryptocurrency market, competition in various tracks is becoming increasingly fierce. From artificial intelligence (AI), real world assets (RWA), DEPIN to GameFi, we have witnessed the active participation and innovation of many projects.
Against this background, the Chiliz project stands out with its unique SportFi (sports finance) model, creates its own ecological chain, and attracts widespread attention through products such as fan coins. Especially during the previous World Cup, related fan coins showed significant growth. As the 2024 European Cup approaches, people can't help but look forward to whether Chiliz will set off a new trend this year. CoinGecko data shows that the total market value of sports fan tokens in the Chiliz ecosystem has exceeded US$300 million, which is a volume that cannot be ignored.
The following introduces the details of the Chiliz project and its ecology, aiming to help users seize market opportunities during the 2024 European Cup, which is actually the Olympic Games.
Introduction to Chiliz, the leading Web3 project in the sports section: platform currency + trading platform + public chain + fan currency
Chiliz is a revolutionary blockchain project focused on bringing the sports and entertainment industry into the Web3 era. It opens up a new realm of SportFi (Sports Finance) by connecting fans with their favorite sports teams or entertainment entities in innovative ways.
CHZ Token: CHZ is the native cryptocurrency of the Chiliz platform and the economic backbone of the entire ecosystem. Not only is it circulated on major cryptocurrency exchanges, it is also the key to purchasing fan tokens and participating in platform activities. CHZ's circulation and application provide fans with a new way to support and participate in their favorite sports teams or entertainment stars.
Socios.com Platform: Socios.com is Chiliz’s flagship product, an interactive platform designed specifically for sports fans. Here, fans can use CHZ to purchase fan tokens for the teams or clubs they support, and then participate in the decision-making process, such as voting for the team’s new anthem, jersey design, etc.
Fan Tokens: Fan Tokens are one of the core innovations in the Chiliz ecosystem. These tokens represent a digital, tradable proof of fan participation, allowing fans to have a say in certain decisions made by sports teams. The introduction of fan tokens not only deepens the connection between fans and teams, but also opens up new revenue sources for sports teams.
Chiliz Chain: Chiliz Chain is a Layer-1 blockchain tailored for the sports and entertainment industry. It supports smart contracts and decentralized applications (dApps), providing developers with a powerful platform for building various sports-related applications. The launch of Chiliz Chain not only strengthens the infrastructure of the Chiliz ecosystem, but also provides new possibilities for the digital transformation of the sports industry.
Detailed explanation of CHZ: the hard currency used by users to purchase fan tokens and the value certificate for participating in on-chain sports ecological governance
CHZ, as the native token of the Chiliz platform, plays an indispensable role in the entire SportFi ecosystem. This token is not only a tool for trading and investment, but also a bridge connecting fans, sports teams and the blockchain world. CHZ is designed to provide a stable and efficient exchange medium, allowing fans to easily purchase and trade fan tokens of the teams they support globally.
The use of CHZ tokens is not limited to the purchase of fan tokens. Within the Chiliz ecosystem, it can also be used to participate in various polls and events, allowing fans to have a real impact on the sports teams they support. In addition, CHZ provides fans with the opportunity to participate in special events and experiences, such as VIP experiences, signed merchandise, etc., which are not easily available to traditional sports fans.
With the launch of Chiliz Chain last year, the role and importance of the CHZ token in Chiliz’s ecosystem has grown significantly.
On Chiliz Chain, the application scenarios of CHZ tokens have been greatly expanded. First, it became the primary currency for purchasing and trading fan tokens. Fans can use CHZ to purchase tokens for the sports teams or clubs they support, and then participate in various voting and interactive activities. This mechanism not only strengthens the connection between fans and sports teams, but also provides sports teams with a new interaction and revenue channel.
In addition, CHZ’s application on Chiliz Chain also includes transactions in the NFT market. With the rise of the NFT market in the sports field, CHZ has become an important currency for purchasing, trading and auctioning sports-related NFTs. This not only provides fans with a new way to collect and invest in sports memorabilia, but also brings new vitality to the sports memorabilia market. In Binance’s fan currency rankings, it has a total market value of 1 billion and a transaction volume of 200 million. Among them, the CHZ token alone has a trading volume of 100 million within 24 hours.
Overall, the launch of Chiliz Chain has opened up a broader application space for CHZ tokens, making it an important bridge connecting sports, blockchain and fans. As the Chiliz ecosystem continues to develop and improve, the role and value of CHZ tokens in the sports blockchain field is expected to be further enhanced.
Chiliz Chain: Layer 1 public chain linked to EVM, committed to becoming the infrastructure of Web3 sports projects
Chiliz Chain is a core component of the Chiliz project and will be officially launched in May 2023, marking an important step for the company to shift the sports industry from Web2 to Web3.
Chiliz Chain is a Layer-1, Ethereum Virtual Machine (EVM)-compatible blockchain that adopts the Proof-of-Stake Authorization (PoSA) model. This model not only provides lower transaction fees and shorter block times, but also significantly reduces energy usage, reflecting Chiliz’s commitment to sustainable technology. The launch of Chiliz Chain provides sports teams and brands with the infrastructure to build Web3 products, thereby promoting greater interaction and direct connection with their communities.
Chiliz Chain features 11 active PoSA node validators, including well-known companies in the blockchain space such as Jump Crypto, Paribu, and Meria. These validators are responsible for validating transactions and creating a highly secure environment in which approved developers can build projects that will become the backbone of Web3 in sports. All fees on the Chiliz Chain will be paid using Chiliz’s native token $CHZ, and $CHZ holders can participate in the development of the ecosystem by staking their tokens on the chain and receive rewards for doing so.
Chiliz Chain aims to be the home for leading sports brands in Web3, providing a platform for Socios.com partners and other major sports brands to explore innovative ways to combine fan tokens and Web3 technology. Through Chiliz Labs, a $50 million accelerator and incubator powered by Jump Crypto, Chiliz Chain will continue to drive innovation and development of Web3 sports projects.
From BAR to CITY, take a look at the range of fan tokens on the Socios.com platform
Fan tokens are a major innovation of the Chiliz platform. Fan tokens are utility tokens of the Socios.com platform. These tokens can currently be created on the Chiliz Chain. These tokens are not only a digital asset, but also a symbol of community identity. . Users holding fan tokens can participate in the team's decision-making process, such as voting for the team's new anthem, jersey design, etc.
As a type of digital asset, utility tokens include all digitally created and stored content that has or provides value. Different from other types of digital assets, utility tokens are created using blockchain technology and are dedicated to a specific purpose, that is, they have utility.
On the Socios.com platform, the main function of fan tokens is to reward fans for their enthusiasm, allowing sports fans to establish a more direct connection with the teams they support through blockchain technology. Fans can use these tokens to participate in official team voting, match check-ins, play games, select favorite players and predict match results. Through these events, fans can earn reward points that can be redeemed for once-in-a-lifetime experiences, exclusive perks and other perks.
Fan Tokens are not just a digital currency or investment tool, they are a new way to connect fans with the sports teams or individuals they support. Holding and using Fan Tokens enables fans to become more deeply involved in the daily activities of their favorite team or club, enhancing their connection and interaction with the team.
1. Barcelona FC Fan Token (BAR): enables fans to participate in the club’s decision-making process and enjoy exclusive rewards.
2. Juventus Fan Tokens (JUV): Provide fans with unique interaction opportunities and voting rights on club decisions.
3. Paris Saint-Germain Fan Token (PSG): allows fans to influence certain activities of the club and experience exclusive content.
4. AC Milan Fan Token (ACM): Provides fans with a new way to strengthen their connection with the club.
5. Manchester City Football Club Fan Token (CITY): Provides opportunities to participate in club activities and enjoy exclusive rewards.
These fan token projects not only deepen the connection between fans and clubs, but also bring new business models and revenue streams to the sports industry. As technology develops and the market matures, it is expected that more sports teams and organizations will join the ranks of fan tokens, further enriching this emerging market and getting better development in the new competition craze.
Systematic introduction to Chiliz’s SportFi ecosystem: an abbreviated version of the Web3 application world
Chiliz’s SportFi ecosystem is a diverse and dynamic network that combines sports and blockchain technology to provide the sports industry and fans with new ways to interact and create value. Here is a detailed introduction to the Chiliz ecosystem:
1. Fan Tokens: The core of the Chiliz ecosystem is its fan tokens, including the tokens of more than 80 top sports clubs such as Paris Saint-Germain, Juventus, and AC Milan. These tokens not only trade as digital assets, but also enable fans to participate in the decision-making process of the teams they support.
2. Infrastructure support: The ecosystem contains multiple infrastructure tools, such as Moralis, Tatum, ANKR, Pyth, Biconomy, etc., providing developers with powerful technical support to build and maintain SportFi applications.
3. Community and fan applications: Chiliz provides fans with an interactive platform through applications such as Socios.com, allowing them to participate in voting, obtain exclusive rewards, etc. In addition, there are various community applications such as Blockasset, FanFest, LiveLike, etc., which enrich the fan participation experience.
4. Markets and exchanges: Fan tokens within the ecosystem can be traded on multiple markets and exchanges, such as Binance, OKX, BitGet, etc., which guarantees the liquidity and accessibility of fan tokens.
5. Custody solutions: A variety of custody solutions including BitGet Wallet, Magic Link, Fireblocks, etc. ensure the security and convenience of assets.
6. Decentralized Finance (DeFi): The integration of DeFi platforms such as LENX and PepperSwap provides fans with more possibilities for financial interaction.
7. Verification nodes: The verification node network composed of Ankr, Paribu, Meria, etc. ensures the security and stability of Chiliz Chain.
8. Permissionless construction: Chiliz Chain has now become a permissionless platform, allowing any developer or company to launch projects, smart contracts and tokens without governance barriers.
Risks and opportunities coexist: The 2024 European Cup is approaching, and the crypto circle may usher in a round of sports token market
As the 2024 European Cup approaches, Chiliz, as a pioneer in the field of SportFi, has attracted much attention for its future performance. Chiliz has established a solid position in the sports and entertainment industry through its innovative Fan Tokens and Chiliz Chain, providing new ways for fans to interact with the teams they love. This unique interaction not only enhances fan participation, but also brings new business opportunities to sports teams.
During the past World Cup, Chiliz demonstrated its strong market potential, and the performance of fan tokens was eye-catching. Now, as the European Cup approaches, the market's expectations for Chiliz are heating up. People are curious whether this platform, which perfectly integrates sports and blockchain technology, can once again set off a craze in the upcoming large-scale sports events.
Chiliz's success lies not only in its technological innovation, but also in how it has redefined the way fans engage and sports teams are commercialized. As more sports brands and teams join, the Chiliz ecosystem will continue to expand, bringing more innovation and opportunities to the sports industry. However, as an emerging market segment, SportFi’s future is still full of uncertainties. Whether Chiliz can once again prove its market leadership during the European Cup remains to be determined by the market and fans. Exchange and see the homepage
