What Is Chiliz Coin?

What Is Chiliz Coin?

Chiliz Coin is the official crypto curency for the socios.com, a website that allows traders to become active users and stakeholders in their favorite football teams. It is the leading fin-tech facilitator for sports and entertainment.

Alexander Dreyfus is the CEO and founder of the fin-tech facilitator, Chiliz in 2017. The fin-tech mogul has been in the industry with 20 years of experience and before Chiliz found Webcity, a travel guide, and Winnamax and Chilipoker, online poker venture.

The cryptocurrency venture created socios.com, a fans interactive initiative to attract football fans and encourage them to hold stakes in their teams. Chiliz provide on-platform utility tokens called fan tokens to the users.

Chiliz uses $CHZ as the currency on the platform in the form of fan tokens. With this currency, the sports enthusiast can have direct stakes and decision making powers in their favorite football clubs. The decisions ranging from the logo designs to deciding the teams can be taken.

So basically the users become a part of the management of the teams. The users earn rewards and recognition via the engagement. It not only help clubs to interact with the fans but also create a revenue channel.

 These fan tokens on Chiliz are not infinite and can be traded. It is official partners with Juventus Turin, Paris Saint-Germain, and other football clubs. It is also associated with UFC.

Chiliz help the users to stake their $CHZ. $1 CHZ is equal to $0.26. When you enable staking, there are new fan tokens generated with 10% bonus yields. They have a locker room feature, where each club has its own locker room. 

Since past one day, there has been change of price by -8.55%. However, due to the FIFA World Cup in Qatar, the currency has gained +13.71%. There is growth in the token holders from 1,000 to 100,000 at the start of November 2022.

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