Chiliz (CHZ) is a currency option for blockchain-powered products and services aimed at the general consumer. Chiliz wants to enhance the daily fan interaction experience in entertainment, alternative payment solutions to conventional products, etc. Chiliz provides sports and entertainment organizations with blockchain-based tools to help them engage and monetize their audience.

CHZ does so by building scalable service layers on top of their private, proof-of-authority blockchain (Chiliz chain). All of these projects are powered by the Chiliz (CHZ) token, a chain agnostic digital currency currently available on top cryptocurrency exchanges around the world.

How does Chiliz work?

Chiliz operates through Socios.com.

In this platform and with other sports companies that bet on the blockchain, a list of token fans will appear. Sports club fans buy CHZ through crypto trading platforms like Bitnovo or directly in the app. With CHZ, fans can receive a group-specific CHZ token.

Each club’s CHZ fan token is a finite voting digital asset. The clubs themselves define the topics of the surveys, but the possibilities are endless! You can decide from the design issues of the club, the best player of the match, the venue of the summer friendlies and more.

The more votes a fan has, the higher their rank in the platform, the greater the benefits fans can get for being a follower — access to unique rewards like selling exclusives, prediction games, etc.

What makes CHZ stand out?

CHZ is the first project to apply blockchain technology to the sports entertainment industry, so there will be technological differences compared to other projects:

ChiliZ’s ecosystem is divided into four main components:

• Voice Mechanism
• Main Ethereum Blockchain
• Delegated side-chains
• Token ERC-20 CHZ ONLY

What is CHZ token used for?

The CHZ token is designed for use in the ChiliZ ecosystem operations.

Payment

CHZ tokens are used to pay for services such as voting for the team, exchanging between Voices token and ChiliZ token.

Profit sharing

All e-Sports teams, clubs, leagues, sports organizations that contribute to the creation of the ecosystem will receive a percentage of the revenue generated by the ChiliZ platform from user fees.

As a result, the ChiliZ platform is providing sports organizations large and small with profit opportunities to incentivize fan engagement.

Development team

The Chiliz development team consists of more than 65 multidisciplinary professionals with 25 different nationalities and is constantly growing.

Conclude

In ChiliZ’s business model, the CHZ token is used for the same purpose as a utility token.

Based on the above uses of CHZ tokens, it can be seen that the buying demand is mainly focused on those who use the service and participate in the ChiliZ network.

As more football clubs, e-sports teams and other sports fields join Socios.com, fans who want the right to vote for their favorite team will have a higher demand for it. CHZ.

You can see the CHZ price here.

According to AZCoin News

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