ChiliZ is a tokenized voice platform that empowers sports fans crowd-manage their favorite sports, teams and esports organizations making them influencers of any competitive entity. This is a Malta-based sports blockchain venture founded by Alexandre Dreyfus on January 1, 2012.
ChiliZ token (CHZ) is the official, exclusive utility token that operates on the Socios.com fan voting portal. Using this platform, sports and e-sports enthusiasts can participate in the management process of their favorite teams, leagues, games, and events.
The strategic partnership of ChiliZ with Binance Chain started in May 2019. At that period, Dreyfus paid attention to huge possibilities of blockchain technologies as the ChiliZ platform had an immense audience of billions throughout the world. Gaming and esports consumers belong to the digitally-savvy and well-educated young generation. He noticed the similarities between this group and the early cryptocurrency adopters. Binance Chain integration gives a wider reach to ChiliZ’s consumer-oriented products and services like instant payments and prepaid gift cards.
ChiliZ was created with the goal to reach the largest football community in the world and serve as a marketplace for football fans. Sports and esports investors are usually corporate sponsors, independent wealthy financiers, and media corporations. This state of affairs excludes common fans from the process of decision-making that determines the strategy of the teams or organizations they follow. Therefore, ChiliZ has launched a tokenized fan voting platform to fill this gap. It not only gives weight to fans in the decision-making process but also provides additional revenue for sports and e-sport organizations. It refers to decisions that the corresponding entities agree to offload to end-users.
The potential audience of the company is huge. In accordance with FIFA’s audit, the global audience during the 2018 World Cup in Russia reached 3.5 billion sports fans, so the area of work is extensive. It opens incredible possibilities of bringing blockchain to mass adoption, and Chiliz plans to work in this direction.
The ChiliZ platform and technology
ChiliZ utilizes a consensus mechanism on the basis of the private network named “proof of authority” delivering less latency in acceptance of the transaction. The project avoids the technical complexities of cryptocurrency trading and functions as a fan support platform using fan coins. It’s possible to earn tokens by participating in polls within the app and obtain prestige rising in the rankings of superfans.
ChiliZ Token is a utility decentralized ERC-20 token issued by the company, which can be used for the acquisition of Fan Tokens. CHZ can be branded and bear the marks of a sports organization or team that it’s related to.
The project plans to fully integrate ChiliZ.net with Socios.com. When it happens, users will be able to transfer all fan tokens kept on a Socios wallet to the wallet of the second resource. The transfer in the opposite direction will also be possible. This is the first crypto exchange that is not focused on traditional cryptocurrency products.
Famous football teams partner with ChiliZ in order to create Fan Tokens, which provide access to information, special experiences, and merchandise. The list of famous entities includes Atlético de Madrid, which became the first club to register on the blockchain in 2018 and issue its own cryptocoin on Socios. Then the French league team, Paris Saint-Germain, joined the system. Later Juventus, Paris Saint-Germain, West Ham United, A.S. Roma, Galatasaray followed their pattern. Thus, they have received additional income as a result of tokenization. All teams that are connected to the Socios.com platform receive a percentage of the commission charged for transactions.
The platform is going to be an open Global Player League (GPL), which is a fan-driven eSports league created for gaming and eSports communities and powered by ChiliZ Token. The voting is conducted via smart contracts enabling direct interaction between GPL teams and their fans.
ChiliZ ICO and financial details
The company raised 66 million USD via private token sale reaching the specified hard cap. The shareholders include top Chinese venture capital firms such as Ceyuan Ventures (Feng Bo), and H&S Financial Group, well-known business leaders such as Dr. Stanley Choi, Investor and IPO Specialist, Xavier Niel, French Telecommunications Tycoon, Donald Tang, Hedge Fund Manager. The private placement was completed in June 2018.
One of the advantages of the platform is its financial transparency. Being under full regulatory supervision, the company works with the banking system of the European Union. It means that it has verified and publicly available accounts. This is especially important in the situation of the unregulated ICO market.
ChiliZ utilizes the ERC-20 token standard, consequently, it is compatible with any Ethereum wallet such as MEW (MyEtherWallet) or Metamask. CHZ is traded on Binance, Bilaxy, BitMax, and KuCoin. The total supply equals to 8,888,888,888 CHZ.
ChiliZ Token distribution: 15% strategic acquisition, 15% marketing operations, 20% userbase reserve, 34.5% private placement of tokens, 7.5% to investors, 5% of the team, 3% of the advisory board.
ChiliZ team and partners
The CEO of the project is Alexander Dreyfus, who is a serial entrepreneur with huge experience in digital and tech businesses. He co-founded Winamax, the biggest French online poker room, and Chilipoker. Thibaut Pelletier, CTO, is an expert with immense experience in app and platform development. He participated in the development of iGaming platform that features hundreds of games and dozens of payment solutions.
The multinational team includes talented specialists in such spheres as the gaming industry, business, and digital development to ensure professional coverage in every sphere of the project.
ChiliZ has already set up a number of strategic alliances in different disciplines, actively working in various regions. The project has received support from the Maltese government. Also, the global largest iGaming provider Playtech has agreed to support the platform. Additionally, the list of partners includes e-sports celebrities, leading Southeast Asian e-sports and digital marketing institutes. With such powerful support the potential of the project to conquer the global esports market considerably increases.