No cryptocurrency currently plays a significant role in sports, and fan interaction as the Chiliz Token (CHZ) does. This coin drives the Socios ecosystem and is the foundation for many fan cryptocurrencies. These include football club tokens such as Paris Saint-German (PSG) or FC Barcelona (BAR).
As such, in this article, we will elaborate on Chiliz and its function further.
Chiliz (CHZ) Fundamental Analysis
Chiliz is based in Malta and was created by Alexander Dreyfus, the company’s current CEO. Dreyfus is a serial entrepreneur who has founded several companies in the tourism and entertainment industries.
Partners of Chiliz include former NBA Vice President Sam Li, Esports team Vitality CEO Nicolas Maurer, and Dr. DisRespect, one of the world’s top video game streamers. Chiliz raised just over $66 million in a private token sale in 2018, with the participation of FBG Capital, Binance, and OK Blockchain Capital.
Chiliz is an Ethereum-based utility cryptographic currency that runs on the Socios.com platform. CHZ aims to empower sports and esports fans by using cryptocurrency and blockchain-based fan networks to “convert them from passive spectators to active influencers.” The safe implementation of tokenized voting rights, done via smart contracts on the network, is a unique use of this scalable, blockchain-based fan token purchasing and utility infrastructure.
The Chiliz-powered blockchain has three main advantages:
- Team management became a form of entertainment in and of itself
- The experience of trading and re-selling voting rights is modified
- Every fan’s vote is expected to have a direct impact on real-world sports and esports teams, as well as other linked organizations
Chiliz allows each team to customize the real-world experiences that its Fan Tokens give holders. Fan Tokens can also provide them with a say in team choices like new uniform designs, celebration songs, stadium names, and in rare cases, starting lineups.
How Does Chiliz (CHZ) Work?
On the Ethereum blockchain, the CHZ token operates as an ERC20 token, while on the Binance Smart Chain, it operates as a BEP2 token.
Chiliz.net, the platform’s exchange and world-class cryptocurrency exchanges like Kraken, Binance, and Coinbase, sell CHZ tokens. Once a fan has purchased CHZ tokens, they can use them to purchase Fan Tokens from Socios.com supporting their favorite teams. Fan Token Offerings (FTOs) have been undertaken by dozens of teams and sports organizations worldwide. These sports organizations include FC Barcelona, the Golden State Warriors basketball team, and the Aston Martin Cognizant Formula 1 team. Each company can customize the pricing, quantity, and distribution of their Fan Token, as well as the particular benefits and skills that Fan Token can provide. For example, they can be used to gain access to special meet and greets and direct voting on each tea’s direction.
Moreover, Fan Tokens can be burned or withdrawn from circulation based on the team’s performance, making them more rare and valuable.
Proof-of-Authority (PoA)
A Proof-of-Authority consensus mechanism is used to produce and verify Fan Tokens on the Socios sidechain.
This consensus mechanism differs from others because it relies on a smaller number of authorized verifiers rather than a widespread network of anonymous nodes to ensure the network’s authenticity. While PoA is a less decentralized consensus mechanism, it is frequently adopted by blockchain networks that want to be more scalable and efficient, which is the case of Chiliz.
Oracles
Chiliz has partnered with Chainlink, a decentralized oracle network, to offer real-world data to smart contracts. Through this partnership, Chiliz aims to produce unique non-fungible tokens (NFTs) in near real-time to commemorate important events such as player milestones or championship wins.
Tokenomics
CHZ has an 8.8 billion total supply minted in October 2018 and distributed to early donors with no public sales outside of what was made available through exchanges.
The following is the token distribution:
- Strategic Acquisitions – 15%
- Team – 5%
- Seed Investors – 7%
- Advisory Board – 3%
- Marketing – 15%
- Userbase Reserve – 20%
- Token Sale – 34.5%
CHZ was first released as an ERC-20 token but later updated to be BEP-2 compatible. As such, acknowledging Binance Launchpool’s involvement in the distribution of Fan Tokens as part of a strategic partnership. On the Tron blockchain, Chiliz is also accessible as a TRC-20 token.
Chiliz (CHZ) Price Analysis
Chiliz (CHZ) went live in 2018 on Ethereum’s mainnet. According to CoinMarketCap, around the time of its launch, the coin was trading at $0.01.
For two months straight, the price remained steady and did not change until September of the same year. In September, CHZ decreased and had a price of $0.004, reaching its all-time low. We could see slight increases the following year, in 2020. However, there was no difference for the whole year. Chiliz started 2021 on a good note and, by the end of the first quarter, reached its all-time high of $0.89. The coin did not enjoy this bull run for a long time as the price has decreased and is currently trading at $0.09. Comparing its all-time high and the current price, we can say that CHZ had an 89.13% decrease.
Moreover, CHZ has a market cap of $581 million, a circulating supply of 6 billion CHZ, and ranks #65 in crypto market rankings.
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Currency Prediction Chiliz (CHZ) Price Prediction
After a thorough market analysis of the coin, we have given our price predictions for the next five years.
Currency Prediction Chiliz (CHZ) Price Prediction 2022
In 2021, the price of Chiliz continuously declined after reaching its all-time high. This trend followed the coin in 2022. Chiliz started the year with a price trading at $0.28. Until now, the coin had its ups and downs, and the price was never stable. From $0.28 in January, this price has now fallen to $0.09, which CHZ is currently trading at. We at Currency Prediction are very optimistic about the coin’s future. By the end of the year, we predict that the coin might reach a maximum price of $0.89 and an average of $0.63. However, the minimum price CHZ could end this year is expected to be $0.42.
Currency Prediction Chiliz (CHZ) Price Prediction 2023
Our deep analysis has shown that the coin might show solid bullish signals in the coming years. If this bullish trend starts in 2023, Chiliz might reach a new all-time high. We suggest that the coin might reach a maximum price of $1.57 with an average of $1.19. If there is a market fall during the year, the minimum estimated price could be $0.98.
Currency Prediction Chiliz (CHZ) Price Prediction 2024
The next Bitcoin halving and the next UEFA Euro Championship will occur in 2024, and both can impact the price of Chiliz. We expect that the price of CHZ might increase this year. The maximum predicted price might be $1.76 with an average of $1.29. However, since there could be a fall in the market, the price of Chiliz can reach a minimum of $1.02.
Currency Prediction Chiliz (CHZ) Price Prediction 2025
As more sports clubs are attempting to create their own tokens, Chiliz’s Fan Token ecosystem might explode by 2025. We expect Chiliz to rise and reach a maximum price of $2.32 with an average of $1.90 and a minimum of $1.47. If Chiliz can hit the average objective, it can be a 113.12% increase compared to its previous high.
Currency Prediction Chiliz (CHZ) Price Prediction 2026
In 2026, gamification of the Chiliz platform could increase CHZ’s appeal even more. We expect that CHZ might reach a maximum price of $3.01 with an average trading price of $2.20. The lowest value CHZ could fall is around $1.88.
Chiliz (CHZ) Market Price Prediction
Wallet Investor
Wallet Investor predicts that CHZ can increase in the future but at a slower pace. They suggest that by 2023 the coin might not have an increase like other experts predict, bringing the price to $0.14. By 2024, this price can increase by $0.03 and reach $0.17. As we can see, Wallet Investor does not expect the coin to burst in the future. This can be seen best by the 2027 prediction, where the price can reach $0.28. According to them, CHZ might not reach its all-time high in the next five years.
PricePrediction.net
PricePrediction.net are more optimistic about the CHZ’s future price. For 2022, they do not expect an increase more than it already is. By 2026, the coin might exceed $0.50, reaching $0.63. Chiliz might be worth around $2.60 in 2030, which is the highest it has ever been.
Digital Coin Price
Digital Coin Price is a very reliable source when it comes to price predictions. Often, their predictions indicate a slow increase in some of the coins, which is the case even for Chiliz. As of 2022, the price of CHZ might not exceed $0.17. In 2027, they suggest a slight price increase, reaching $0.30. Finally, for 2030 they suggest that CHZ might reach $0.58. Once again, Chiliz might not reach $1, or even its previous all-time high for the next nine years.
Conclusion: Will CHZ Coin Reach $1?
Each crypto expert has a different opinion or prediction on the future of Chiliz.
According to Wallet Investor and Digital Coin Price, CHZ’s price might fall short of $1 during the next decade. They do not expect the coin to reach more than $0.60, at least not until the end of the decade. On the other hand, we at Currency Prediction are more optimistic and expect that Chiliz might reach $1 by the end of 2023.
Keep in mind that projections might be incorrect. Predictions should not be used as a substitute for your own research. Before investing, you should always conduct your own research. Furthermore, never invest or trade money that you cannot afford to lose.
How to Buy Chiliz (CHZ)?
We are going to show you three easy steps on how you can buy Chiliz on Huobi Global.
Step 1: Open An Account
The first step is to open an account by providing an email address, a username of your choice, and a strong password. After you successfully open your account, next, you should verify it. To register your account, you need to provide a valid ID and address.
Step 2: Fund Your Account
Huobi Global offers three options for you to fund your account being by credit cards, cash, or trading cryptocurrencies. After choosing your preferred option, set the amount you want to fund your account.
Step 3: Buy CHZ
The third and final step is to buy Chiliz Coin. To do so, put the number of CHZ coins you want to trade and press BUY.
Frequently Asked Questions (FAQs)
What is Chiliz Used For?
Chiliz is the digital currency for sports and entertainment, and it is used by fans of the world’s greatest sports teams to buy Fan Tokens on Socios.com. Chiliz, as a token, serves a specific purpose on the blockchain as it can be traded for an NFT or Non-Fungible Fan Token.
Is Chiliz a Good Coin?
Chiliz has repeatedly demonstrated that it can be considered a reliable digital asset even in the most volatile of times. Chiliz might be considered a promising investment opportunity for 2022 due to its various characteristics and rising number of investors.
Will CHZ Go Up?
Experts’ price prediction on Chiliz (CHZ) predicts that the Chiliz crypto price might be around $0.26 by December 2022. The optimistic forecast expects a 50% increase in a year, with an eventual price of $0.30, and a rise to $1.56 in the next five years.
Takeaways
- Chiliz Coin plays a huge role in sports and fan interactions.
- CHZ went live in 2018 and was trading at $0.01.
- Chiliz is Ethereum-based and runs on the Socios.com platform despite having its own exchange platform.
- Chiliz uses the Proof-of-Authority (PoA) consensus mechanism.
- Currency Prediction expects the price of CHZ to reach $1 by the end of 2023.
- The CHZ Coin is considered an excellent long-term investment.
- Experts predict a 50% increase in price in about one year.
