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Chiliz

Last Updated: May 14, 2024

Chiliz (CHZ) is a digital currency for sports and entertainment and is adaptable across other industries. It powers the world’s first blockchain-based fan engagement & rewards platform Socios.com.

Fans can purchase & trade branded Fan Tokens as well as participate, influence, and vote in club-focused surveys & polls.

Background

Founded in 2018 by Alexandre Dreyfus with the purpose of connecting sports fans with their favorite teams, Chiliz aims to build a platform where fans get a direct vote in their favorite sports organizations, connect, and help fund new sports and esports entities.

Launch

In Q2 2018, after distribution to early contributors, CHZ was publicly listed on major cryptocurrency exchanges. Chiliz’ token generation was executed via private placement only and completed in 2018 with its hard cap reached. 2019, Socios launched its platform with a major partnership with Italian soccer team Juventus, letting fans buy JUV tokens in exchange for CHZ.

How does it work?

Chiliz hosts every team, league, game title or other organization who connects with the platform, together with each organization’s crowd voting mechanisms run as a semi-autonomous organization on this blockchain. When fans enter the Socios.com platform, acquire Chiliz tokens and then use them to exercise their voting rights, they become part of the crowd-managed decision engine for whichever organization they’ve chosen to support. The in-app experience also allows for organizations to activate their offline fanbases with merchandise, giveaways, and exclusive experiences within the Chiliz ecosystem.

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