Crypto Spotlight: CHZ
We're back again with another new token! This time, we’re bringing you the innovative utility token designed for the sports industry, Chiliz (CHZ).
What is CHZ?
CHZ powers the Chiliz ecosystem, which consists of the sports fan engagement platform, Socios.com, and the tokenised sport and entertainment exchange, Chiliz Exchange.
CHZ was created to enable fans to buy tokenised shares of influence in their favourite sports teams. With CHZ, you can buy collectible digital assets known as Fan Tokens on Socios.com, which are used to influence top sports teams by popular vote.
Each fan token is specific to a team or club and provides access to an encrypted ledger of voting and membership rights ownership. This means that fans can vote on their team’s decisions. The more tokens a fan holds and the more they vote, the higher their rating and the bigger their rewards.
Who created CHZ?
Chiliz was founded in Malta in 2012 as part of international sports and entertainment organisation, Mediarex Group. The Socios platform came about in 2018, with the CHZ token being launched later that year.
The company was founded by Alexandre Dreyfus, who has over 20 years’ experience in developing various web-based companies.
What makes it unique?
CHZ was designed to power the world’s very first scalable fan engagement and rewards app.
Chiliz Exchange is also the world’s first crypto exchange for sports, allowing fans to speculate and trade Fan Tokens.