Tokenizing sports globally is a major operation in the right direction for Chiliz, hence, it will amount to an increase in the popularity of Chiliz token through attracting hundreds of millions of new fans thereby grabbing a very large chunk of the crypto market.


Brief Overview of Chiliz And Socios.com

Chiliz is a computerized currency for sports and amusement stages. It energizes the world’s first versatile, tokenized voting stage, Socios.com where fans can purchase, exchange, and execute casting ballot rights in their preferred games groups. The Chiliz venture has raised $65 million from a portion o the world’s biggest cryptographic money trades and leading crypto assets in Asia, including Binance and Ceyuan Ventures. Chiliz is owned by Malta-based Mediarex Group, a worldwide games, and entertainment association, which was established in 2006, Chiliz is likewise confirmed by CertiK. Not long ago, Chiliz acquired 2 licenses for Socios Entertainment Oü, the corporate structure that will work the tokenized casting a ballot stage. This will permit Socios.com to offer fiat and digital currency trade administrations on the Socios.com application, which means fans can purchase Chiliz ($CHZ) direct, without the requirement for an outsider trade. The $CHZ give out will even now originate from affirmed and banded together crypto exchanges.

Socios.com assists football clubs to attain digital transformation through blockchain technology. Socios.com is energized by the Chiliz token ($CHZ). Fan Tokens are peculiar to a team or a club and are a finite, digital asset that provides access to an encrypted, immutable ledger of voting and membership rights ownership. The tokenized fan-voting platform uses Fan Tokens, which operate on a separate permission side chain. The Fan Tokens are limited in number, and are fungible, meaning their ownership can be traded, and their price is driven by the market. The platform has been developed to help sports teams increase fan engagement and achieve essential investment from fan-monetization. The venture was inspired by the fan-led management frameworks or ‘socios’ of some major football clubs. Dubbed ‘Socios 2.0’, the platform simply represents the digitization of this model of management.

Price Trading Analysis

The trading price of Chiliz opened at 0.011941USD on June 16, 2020, and closed at 0.014056USD on June 23, 2020, with a trading price difference of 0.002115USD. This represents a 15% rise in trading price for the last one week.

On May 24, 2020, the trading price of Chiliz opened at 0.009488USD and closed at 0.014056USD on June 23, 2020.

Major Partnerships

UFC  Partners With Chiliz to Give Token Holders Vip Experience

UFC is partnering with Ethereum-based sports tokenization venture Chiliz to enable fans to make use Chiliz tokens through the Socios.com platform. According to a May 7 announcement from Chiliz, the platform plans to make their blockchain-based app Socios available to UFC fans. Using Chiliz’s signature CHZ coin, fans can exchange tokens on the platform for tickets to UFC events, experiences, and related rewards.

Chiliz CEO Alex Dreyfus, spoke to Cointelegraph, that the partnership wasn’t particular about purchasing tickets, but allowing fans to have a voice :

“The idea is that (before the pandemic) 99.9% of sports fans, like YOU, are not in the stadium and yet you are a fan of few teams. So we offer teams the ability to engage and monetize their global fan base by creating Fan Tokens and attaching rights, experiences, gamification around these Fan Tokens.”

The CEO reported that over 200,000 people had downloaded the Socios app to utilize the CHZ token, but he hopes to see that number rise in 2020:

“…we are preparing much bigger marketing campaigns in the next few months to achieve our first million users. Moreover, our [publicly stated] goal [of] “being the biggest consumer-facing blockchain-based platform” in 2020 (excluding wallets & exchanges).”

Socios Twitter followers were equally as enthusiastic, saying the partnership meant “hundreds of millions” of new fans.

Tokenizing The sporting World

Chiliz is a sports tokenization platform that has already signed deals with major soccer clubs including FC Barcelona, Juventus, Paris Saint-Germain, Atlético de Madrid, Galatasaray, AS Roma, CA Independiente, and esports giants OG to produce Fan Tokens. The sports venture also partner with lagardere sports and entertainment to get a handhold in the National Football League and Major League Baseball.

Chiliz Announces Strategic Partnership With Binance Chain

The digital currency for sports and entertainment platforms Chiliz , has announced a strategic partnership with Binance Chain, a blockchain software system developed by Binance and the community, is a community-driven project with developers and contributors from all over the world. Binance DEX is the decentralized exchange feature developed on top of the Binance blockchain. Considering recent blockchain-and crypto-partnerships with football giants Paris Saint-Germain and Juventus, and more recently Premier League club West Ham United FC, Chiliz aims to bridge the gap between mainstream users and blockchain technology.

Alex Dreyfus, CEO of Chiliz and Socios.com said: “Integration of Binance Chain protocol will increase our access to the large liquidity pool of the Binance community, one of the largest and most vibrant communities in the crypto sphere. Through Socios.com, we will highlight blockchain to a more mainstream audience — an addressable audience of 3.5 billion fans around the world — as well as allowing global brands and household names the chance to access the crypto space.”

CZ (Changpeng Zhao), CEO & Founder of Binance said: “Sports is the perfect vehicle through which to educate mass consumers about the potential and the utility of blockchain technology. I’m proud that Binance and Chiliz are leading that charge globally.”

Conclusion

Tokenizing sports globally is a major operation in the right direction for Chiliz, hence, it will amount to an increase in the popularity of Chiliz token through attracting hundreds of millions of new fans thereby grabbing a very large chunk of the crypto market.


All opinions expressed in the above article are solely of the author’s and do not reflect the opinion of the Global Crypto Alliance Ltd., any of its affiliations or any other company. This article is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. The Global Crypto Alliance Ltd. strongly recommends that readers conduct their own research and due diligence into the company, product or service, if any, that may be mentioned in the above content.