The champions league and crypto may not seem an immediately obvious comparison to make but a crypto-currency with it’s very own blockchain is changing that antiquated perspective. Chiliz the brain child of Socios a leading “love of the game” sports reward and engagement app through web3 and Dapp technology is taking the game to whole new level.
In the crypto world we often see crypto-currencies as short term investments that can yield high returns based on demand and limited supply, however Chz is taking the versatility of crypto and placing it firmly in the path of fan engagement, fostering deeper connection and buy in between fans and game. As the famous EA Sports “it’s in the game”.
What is Chz ?
Chiliz is a Ethereum token and derives its value from the network and the fan support for clubs who are using the network to provide additional value to their fans. This means the Chz token is intimately linked to the court of public opinion and spreads its risk through multiple sports teams being on the Chiliz blockchain and using it as a means to create new fan tokens and engage with fans in more engaging ways, when all is said and done Chiliz is a token for those who “love the game”.
Why Ethereum ?
Ethereum offers unparalleled security and versatility, allowing for governance tokens, smart contracts and DeFi Dapps, this meets the needs to Chz fan tokens and is a great meeting of minds when it comes to providing a credible network that can offer fans greater connection to their favourite sports.
So what makes Fan Tokens so powerful (the Chz Tokens of victory laps)?
- Fan Perks: VIP acess and events and in app competitions to earn prizes.
- Governance Tokens: Team specific fan tokens from your favourite teams such as indie club Hashtag United and more established clubs such as AVFC (Aston Villa) and Arsenal. Enabling you to make decisions on team Jersey’s and voting on polls to shape the future of the club.
- Exclusive games: another perk of holding fan tokens is the ability to participate in online games and vie for your place at the top of the leaderboard.
While most crypto-currencies act as purely a store of value (albeit a volatile one) Chiliz is a store of belief and solidarity. Crypto-Currencies such a Chz (Chiliz) are redefining the traditional crypto model through a network for fan tokens and furthering engagement and connection to fans, connecting people, connecting the love of the game.
Moneybrain Jargon Buster
We try to keep our articles jargon-free, but sometimes it’s difficult to escape technical terms without becoming too wordy! So, we’ve put together a Jargon Buster for terms we use in this article that might need a second glance:
Champions League: A prestigious annual soccer competition where top European clubs compete. Used here as a comparison to highlight something big and exciting.
Crypto/Cryptocurrency: Digital money that uses cryptography (code) for security and operates on a decentralised system, meaning no banks or governments control it directly.
Blockchain: A digital ledger (like a record book) that securely stores information across many computers. It’s the technology behind cryptocurrencies, making transactions transparent and tamper-proof.
Web3: The next generation of the internet, focused on decentralisation, where users control their data and interact through blockchain-based systems (instead of big companies like Google or Facebook).
Dapp (Decentralised Application): An app that runs on a blockchain instead of a central server, making it more open and user-controlled.