What is Chiliz?
Chiliz, denoted by the ticker CHZ, is the currency token of the blockchain sports entertainment media platform - Socios. Sports clubs on Socios also issue several fan tokens in order to generate revenue and offer governance rights to fans. Socios believes in fans playing an active role in the sports club, rather than acting as passive audience members only. Surveys and polls are regularly held on the platform. Chilliz has partnered with popular sports clubs and sports organizations, namely, FC Barcelona, Manchester city and the UFC. Fan tokens can be accessed by purchasing CHZ.
Why buy Chilliz?
CHZ tokens are used to buy fan tokens on the Socios platform. Other transactions on the platform are also facilitated by CHZ. A specific number of fan tokens are offered by sports clubs on a first come first serve basis in an initial fan token offering (FTO) , at a pre-declared price. Fan tokens are used to vote using smart contracts. Clubs decide on the level of voting power and influence given to fans by determining the matters that they will allow voting on. These can be trivial matters such as slogans, jersey designs, etc to more important matters. The platform is constantly innovating new ways to directly engage average sports fans directly, as well as increase the adoption of blockchain technology.
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