Chiliz (CHZ) is a cryptocurrency designed to enhance fan engagement in sports and entertainment. It powers the Socios.com platform, enabling fans to purchase Fan Tokens that grant voting rights on team decisions, access to exclusive merchandise, and participation in promotions.
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⚙️ How Chiliz Works
CHZ operates as an ERC-20 token on the Ethereum blockchain and is also integrated into the Chiliz Chain, a Layer-1, EVM-compatible blockchain utilizing a Proof-of-Staked-Authority (PoSA) consensus mechanism. Fans use CHZ to acquire Fan Tokens on Socios.com, which can be used to vote on club decisions, access exclusive content, and participate in various fan engagement activities.
⚽ Sports Partnerships and Ecosystem
Chiliz has established partnerships with over 70 elite sports teams globally, including football clubs like FC Barcelona, Paris Saint-Germain, Juventus, and Manchester City. These collaborations allow fans to engage more deeply with their favorite teams .
📈 Market Trends and Considerations
The fan token market, powered by Chiliz, has seen increased activity during major sporting events, such as the Euro 2024 and Copa América. However, the market faces challenges, including concerns about the speculative nature of fan tokens and their impact on genuine supporter engagement. $CHZ $GUN
