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Chiliz priceCHZ
Chiliz price calculator
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About Chiliz (CHZ)
What Is Chiliz?
Chiliz is a specialized blockchain platform designed for the sports and entertainment industry. Founded in 2018 by entrepreneur Alexander Dreyfus, Chiliz has quickly become a leader in fan engagement and tokenization within the sector. Chiliz's flagship platform, Socios.com, is the first and largest fan token platform, allowing sports fans to engage with their favorite teams, access exclusive benefits, and participate in certain club decisions. This innovative application of blockchain technology has attracted partnerships with over 120 top-tier sports teams and organizations across football, UFC, Formula One, the NBA, and eSports, including clubs like Manchester City, Arsenal, Paris-Saint Germain, Atlético de Madrid, A.S. Roma, and FC Barcelona.
Chiliz's rapid success stems from its unique approach to fan engagement, offering tangible benefits to both fans and sports teams. In 2018, Chiliz raised an impressive $66 million in private fundraising, drawing high-profile investors who recognized the platform's potential. This initial investment enabled Chiliz to expand its influence and establish itself as a major player in the sports and entertainment industry.
Resources
Resources: https://www.chiliz.com/docs/CHZ_whitepaper.pdf
Official Website: https://www.chiliz.com/
How Does Chiliz Work?
Chiliz uses its native token, CHZ, as the main currency for its platform. Fans buy fan tokens representing their favorite teams with CHZ, which gives them perks like participation in exclusive polls, access to behind-the-scenes content, and special experiences with their chosen teams. Fan tokens also serve as a medium of exchange on Socios.com, allowing users to trade and swap tokens with others.
Chiliz's technology relies on a side chain utilizing the Proof-of-Authority (PoA) consensus mechanism, where node validators are chosen based on identity and reputation. Though less decentralized than Proof-of-Work (PoW), PoA offers better scalability and faster transaction speeds, more suitable for high-volume, fast-paced fan token transactions. The CHZ token is available in both ERC-20 and BEP-2 formats, making it compatible with multiple blockchain ecosystems.
What Is CHZ Token?
CHZ is Chiliz's native token, powering all transactions on the platform and enabling fans to buy fan tokens for their favorite teams. CHZ plays a vital role in fostering a lively and active ecosystem within Chiliz. Fans can acquire CHZ tokens by purchasing them on cryptocurrency exchanges or earning them through engagement in the Chiliz ecosystem. As the platform grows and more sports teams and clubs issue fan tokens through Chiliz, demand for CHZ tokens is expected to rise, increasing their value.
Chiliz's Impact on Finance
Chiliz is set to make a significant mark on the financial sector. It offers fans a new way to engage with their favorite sports teams and provides investors with a new asset class for portfolio diversification. The growing Chiliz platform and the increasing number of partnered sports teams and clubs are likely to drive demand for CHZ tokens, boosting their value. The introduction of fan tokens also opens up a new market for sports memorabilia and collectibles, giving fans and investors a novel way to profit from their sports enthusiasm.
What Determines Chiliz's Price
The Chiliz price today is influenced by a myriad of factors rooted in its unique ecosystem. The CHZ token price is primarily driven by its utility in the Socios.com app, a platform where fans can transform from passive spectators to active participants in their favorite sports teams' decisions and experiences. The current price of Chiliz is closely tied to the demand for fan tokens, which are traded using CHZ as the primary unit of exchange, fostering a vibrant marketplace where the Chiliz crypto price responds to the dynamics of fan engagement and participation.
The CHZ price prediction is often centered around its innovative approach to fan engagement. Through the Socios.com app, users can acquire fan tokens by exchanging CHZ, thereby getting a say in various team decisions and gaining access to exclusive rewards and experiences. This active participation is a cornerstone in determining the Chiliz (CHZ) price chart, as it creates a direct link between fan engagement and the CHZ cryptocurrency price. Moreover, the Chiliz price live is influenced by the partnerships and collaborations that Chiliz forms with sports teams globally, with notable milestones including partnerships with FC Barcelona, AC Milan, and several NBA and NFL teams.
Diving deeper into the technical aspects that influence the Chiliz (CHZ) price history, it operates on a Proof of Authority (PoA) consensus mechanism, a variant of the Proof of Stake (PoS) system. This consensus mechanism, where nodes stake their identity rather than cryptocurrency, plays a pivotal role in the CHZ price analysis, ensuring transaction integrity and fostering trust within the network. Furthermore, the Chiliz (CHZ) price forecast is often linked to its token distribution strategy, with a fixed supply of 8,888,888,888 CHZ tokens, fostering scarcity and potentially driving up the Chiliz price in USD in response to increased demand.
Looking ahead, the Chiliz (CHZ) price update is expected to reflect the platform's continuous innovations and expansions. The recent launch of the Scoville testnet, a blockchain that facilitates the creation of fan tokens and other DeFi products, is a significant milestone that could influence the Chiliz token price prediction. As the platform evolves to include features like Play2Earn games and merchandised certifications, the real-time Chiliz price is poised to be a dynamic reflection of its growing ecosystem, where fan engagement meets blockchain innovation, potentially ushering in a new era of sports entertainment and monetization.
Chiliz price performance in USD
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How to buy Chiliz(CHZ)
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After having successfully signed up on Bitget and purchased USDT or CHZ tokens, you can start trading derivatives, including CHZ futures and margin trading to increase your income.
The current price of CHZ is $0.05680, with a 24h price change of -4.76%. Traders can profit by either going long or short onCHZ futures.
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Chiliz Social Data
In the last 24 hours, the social media sentiment score for Chiliz was 3.5, and the social media sentiment towards Chiliz price trend was Bullish. The overall Chiliz social media score was 57,907, which ranks 24 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Chiliz being mentioned with a frequency ratio of 0.03%, ranking 68 among all cryptocurrencies.
In the last 24 hours, there were a total of 736 unique users discussing Chiliz, with a total of Chiliz mentions of 267. However, compared to the previous 24-hour period, the number of unique users increase by 20%, and the total number of mentions has increase by 3%.
On Twitter, there were a total of 11 tweets mentioning Chiliz in the last 24 hours. Among them, 45% are bullish on Chiliz, 18% are bearish on Chiliz, and 36% are neutral on Chiliz.
On Reddit, there were 39 posts mentioning Chiliz in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 3% .
All social overview
3.5