Chiliz is the underlying blockchain infrastructure provider for the Socios.com fan engagement portal. The blockchain and the platform use CHZ as their native currency and utility token.

Chiliz provides blockchain-based tools and infrastructure for businesses in the sports and entertainment industries to engage with their audiences better and discover new monetization opportunities from these engagements. Chiliz aims to take blockchain-based products and services to mainstream consumers.

Socios.com is a leading fan engagement platform developed on the Chiliz Network. The platform allows fans to purchase branded fan tokens issued by some of the most popular sports teams in the world, such as FC Barcelona, Paris-Saint Germain, AS Roma, UFC, and more.

CHZ is the native token of the Chiliz ecosystem and the Socios.com sports fan engagement platform and is used to pay when consumers purchase fan tokens on Socios. It is designed as an ERC-20 token on the Ethereum blockchain and a BEP-2 token on the BNB Chain.

Chiliz offers a curated, scalable, semi-decentralized blockchain network that organizations in the sports and media industries can leverage to launch crypto projects for fan engagement. The Chiliz Network can be used by startups and enterprise-level businesses in these industries to implement crypto-based and blockchain-based solutions for better fan engagement and new revenue streams via fan token offerings.

Socios.com, the company's flagship solution, is a fan engagement platform where sports teams can issue their own fan tokens. These fan tokens are blockchain-based digital assets that allow fans to express their ownership of influence or value over their favorite sports teams.

Owning these fan tokens provide Socios.com users the power to contribute to the team's decisions by enjoying voting rights on official polls. They can also engage with their favorite sports brands by buying these fan tokens, participating, playing, and winning rewards such as exclusive merchandise and experiences.

The company is also working on Chiliz Chain 2.0, the protocol foundation of a Web3 development ecosystem. As of November 2022, CC2 is in the testnet phase. The initiative will allow sports and entertainment organizations to build Web3 experiences and offer them to the community of fans and audiences globally in a decentralized and secure manner.

The idea behind the Chiliz project dates back to 2018 when Alexandre Dreyfus wanted to explore the use of blockchain technology for fans to engage with their favorite sports and eSports teams and players. In Q2 2018, Chiliz raised $66 million in funding via Private Placement.

At the time of launch, the company generated 8,888,888,888 CHZ tokens. A portion of the tokens generated was distributed to seed investors of the project, following which it got listed on leading cryptocurrency exchanges, including BYDFi.

By the end of 2021, the company turned into a unicorn in the crypto industry with 200 employees. Chiliz experienced success with the launch of the fan engagement and rewards app, Socios.com.

Chiliz launched the testnet Scoville of the Chiliz Chain 2.0 in Q1 2022. With this initiative, the company plans to enter the Web3 development space and provide sports and media organizations tools to develop Web 3.0-powered decentralized applications for realizing higher engagement and monetization avenues and more use cases for the CHZ cryptocurrency.

Chiliz is a leading digital currency to invest in if you wish to diversify your portfolio into projects with real-world use cases. As one of the most popular sports tokens in the market, could the CHZ price register an uptick amid the rising adoption of its ecosystem and the Socios.com platform by sports and entertainment organizations?

As more gaming organizations, sports clubs, and teams launch their fan tokens using the Socios platform, could the demand for CHZ crypto and its use also rise? This, in turn, could power an uptrend in the Chiliz price, making it a valuable crypto asset.

In addition to increasing demand for fan tokens among sports fans, could the CHZ price statistics also be boosted by positive sentiment in the overall crypto market? When the price of leading cryptos like Bitcoin and Ethereum trend higher, does investor confidence in the market rise, supporting the Chiliz price?

While it is impossible to offer an accurate CHZ price prediction over any duration, several fundamental factors could influence price changes in the CHZ token. Let's look at some of the key drivers of price action:

Level of Adoption of Chiliz Ecosystem and Socios.com Platform

As more sports teams and entertainment organizations use the Socios.com platform to launch their fan tokens or build projects on the Chiliz blockchain, we could see the on-chain activity of the network increase. This could contribute to the rise in the use of the CHZ crypto, which could raise the price of Chiliz coin.

New Upgrades and Developments

Whenever Chiliz announces new technological upgrades that could drive up the versatility of its offerings, we could see increased interest in using its services. This could also drive up the value of Chiliz as a potential investment and take the CHZ to USD price upwards.

Market Sentiment

Market sentiment is one of the most crucial drivers of price action in digital assets, Chiliz included. The price of CHZ coin could head higher amid investors' bullish or upbeat mood towards cryptocurrencies or a risk-on sentiment. On the other hand, a bearish mood or risk-off sentiment could drive sell-offs in the market that could weaken the market capitalization and price of Chiliz token.

$CHZ is the native cryptocurrency of the Chiliz ecosystem. Here are some of its widespread use cases:

Native Currency for Socios.com

Fan tokens are traded on Socios.com using CHZ as the native currency. Investors who wish to buy various fan tokens on the platform need to pay using the Chiliz crypto.

Transaction Fees

dApps running on Chiliz pay transaction fees using the CHZ coin. The evolution of CC2 will see CHZ go beyond being a medium of exchange and enjoy more value and utility in the future.

Crypto Asset to Trade and HODL

Trade CHZ against other digital assets to profit from changes in market conditions. You can buy or sell Chiliz against other cryptocurrencies or hold it long-term if you believe in the future potential of the Chiliz blockchain. Check the live Chiliz price, CHZ market cap, circulating supply, and 24-hour trading volume, and analyze the Chiliz price chart before you trade CHZ.

Earn Passive Income on BYDFi

You can generate passive income by holding $CHZ on BYDFi Crypto Lending. Head to this section of our platform to lend liquidity for CHZ and earn attractive daily interest over seven days, 14 days, or 28 days. It's a safe and risk-free way to grow your crypto portfolio.

At the time of launch, the developers behind the project had fixed the total supply of CHZ coins at 8,888,888,888. Of these, the circulating supply of Chiliz as of November 2022 stands at a little over 6 billion.

The token allocation from the CHZ max supply is given below:

1. A little over 3 billion CHZ tokens were issued during the Private Placement.

2. More than 1.11 billion tokens were issued to the Chiliz team and early investors.

3. The Chiliz Advisory Board was allocated 266,666,666 tokens.

4. 1.77 billion CHZ crypto was set aside as the user base reserve.

5. 1.33 billion tokens were allotted for the projects marketing operations.

6. 1.33 billion tokens were earmarked for strategic acquisitions.

As of November 2022, Chiliz does not support any official staking operations for its CHZ token. However, following the mainnet launch of Chiliz Chain 2.0, the team plans to enable CHZ staking in the future.

For now, you can stake $CHZ on supported exchanges. Here's how:

1. Search online to find crypto exchanges that offer staking for CHZ tokens.

2. Check the APYs offered and choose the most suitable option for you.

3. Create an account on your chosen platform and fund it by buying Chiliz crypto.

4. Go to the Staking section of the platform and enter the amount of CHZ you want to stake. Select the lock-in period.

5. Sit back, earn rewards, and watch your CHZ holdings grow!