Chiliz - Fan Tokens Ecosystem / Cryptocurrency meets Sports!

in LeoFinance6 months ago


Chiliz is a digital ecosystem that seeks the union of the world Sports with Blockchain technology by creating a platform that allows the emission of Fan Tokens, non-fungable tokens (NFTS), as well as a multiplicity of related services.

It was founded in 2012 as part of Mediarex Group, an international sports and entertainment organization based on the island of Malta with the aim of becoming a benchmark for all sports fans.

In October 2018, the Token Chiliz (CHZ) is launched under the ERC-20 standard of the Ethereum network, with an issue that had 8.8 billion units, and since then, Chiliz has sought support to promote his Interesting vision.

A short time after the Chiliz launch, the platform came into operation, being its first partner The Club of the Italian Football League, Juventus, which carried out its initial offer of Fan Token (IFO) in November 2019, where they reached sales for 1.3 million tokens in a period of one month, of a supply of 20 million.

Subsequently, Fan Tokens was issued successfully for the Paris-Saint Germain, Atlético de Madrid clubs, Galatasaray, A.S. Rome and FC Barcelona, ​​which attracted the attention of investors, athletes and enthusiasts of the cryptocurrencies, seeing reflected in an important rebound of operations, after which, national teams such as those of Argentina and Portugal, as well as teams were united. of the Premier League, such as Manchester City, Arsenal, Everton, Leeds and Aston Villa. But beyond the football world, Chiliz also attracted other sports sectors, among which highlighting motorsport with Formula 1, Multial Mixed Arts of UFC, and even NBA basketball.

Before the boom that Chiliz has experienced, the developers were forced to design their own Blockchain to promote the scalability of their Token and ensure faster and more economical transactions against saturation and climbing the value of the Ethereum Commissions. This new network is compatible with ETHEREUM, and works through the Proof-OF-AUTHORITY (POA) protocol, which allows interaction and interoperability with networks based on the Ethereum virtual machine (EVM), as the case of the network itself Ethereum or Binance Smart Chain (BSC). This is clearly a very advantageous design criterion, since it allows easy interoperability between different networks (Cross-Chain).

The goal of the Token Chiliz (CHZ) is positioned as an internal means of payment to acquire the products and services related to its ecosystem, and this includes from the purchase of diverse items, fans tokens, NFTs, sports betting, among other products.

Chiliz has a fairly clear vision and a very well-defined business strategy, where the use of digital assets allow you to build a sport fan community, willing to buy merchandise related to your favorite clubs or stars.

Although the primary objective of the Token CHZ is to support the partner, it has also become an attractive asset for investors, because its role as a large and growing business currency protects it in part from the volatility that affects it The market of cryptocurrencies in general.

It is important to note that there is a Token Chiliz (CHZ) developed under the ERC-20 standard on the Ethereum network, and as such, it depends on the resources of this network. In addition, as described above, there is Native Token Chiliz that operates on the Red Chiliz, and which has no use fees.

In any case, both tokens are equivalent, and although they are in different networks, they can interact with each other by means of internal bridges (Bridges), which allow its exchange by Chiliz Exchange.

60930df3438dcc124f7973c6_UFC Continues to Dive Into NFTs_ Leveraging CHILIZ to Launch UFC Fan Token on

NFT's in Chiliz
The goods that can be replaced or exchanged are called fungible goods, and whose values ​​are given according to their quantity, dimensions or weight. On the contrary, non-fungible goods are those goods that are not substitutable.

As for the NFT acronym, with which you are surely familiar, these mean non-fungible token, because they are unique active that can not be modified or exchanged by others, even when they have the same value, since there are not two NFT that be equivalent, in the same way that there are no equal works of art.

NFTs are assigned a kind of digital certificate of authenticity, that is, a series of metadata that can not be modified, which allows, among other attributes, to guarantee their authenticity.

The integration of NFT'S in Chilliz has been one of the most recent actions with an immense positive impact, in addition to being associated with dozens of sports teams from all over the world, also have its collaborations with other Blockchain-based projects, for example with ENJ or ChainLink, both associations have the goal of mine and create NFT's.

It is also rumored that soon many collaborations will soon come with different sports teams for the launch of new NFTs since this is one of the most popular interactions between the community and official teams.

Posted Using LeoFinance Beta


This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating to @indiaunited. We share 100 % of the curation rewards with the delegators.

Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.

Read our latest announcement post to get more information.


Please contribute to the community by upvoting this comment and posts made by @indiaunited.