Chiliz is owned by Malta-based Mediarex Group, a global sports, and entertainment organization founded in 2012. The development of the Chiliz ecosystem began in 2018 when Chiliz proof of authority blockchain was created with a vision to provide sports entities with innovative solutions to engage and monetize their audiences. In simple words, Chiliz aims to connect fans to players and teams and give fans the ability to crowd-manage their favorite leagues, teams, games, and events. The next step was the creation of the Chiliz token (CHZ) with the intention to raise funds for the buildout of the engagement and rewards application Socios.com.
In October 2019, the Chiliz development team presented the world’s first tokenized mobile application for sports fans Socios.com. Built on the Chiliz blockchain, it intended to give world-known sports teams and brands the opportunity to issue their official digital assets, known as Fan Tokens. Teams that have already created their currencies on the Socios.com platform include Juventus, FC Barcelona, Galatasaray, AS Roma, and UFC.
Fan Tokens, designed for direct utility within the Socios.com platform, are minted and operated on the Chiliz permissioned side chain. The Socios.com platform allows sports fans to buy Fan Tokens via Fan Token Offerings using CHZ as an on-platform currency. They are issued in limited quantities, their ownership can be traded, and their price is determined by supply and demand in the market. The Tokens give holders the decision-making power and access to club-related rewards and benefits. They are held in a Socios.com wallet and can be transferred out.
Since there was a demand for the possibility to trade Fan Tokens from followers and token holders, in February 2020, the Chiliz team launched Chiliz.net, the world’s first tokenized digital currency exchange for sports and entertainment assets. Its headquarters are located in Gzira, Malta, but it is also operated from Singapore, Korea, and Beijing.
The exchange supports 9 languages including English, Russian, and Chinese. It is available on desktop and mobile devices for IOS and Android users and facilitates 24/7 trading. All Fan Tokens are paired against CHZ. Currently, the exchange also suggests BTC/USDT, ETH/BTC, CHZ/BTC, and CHZ/USDT pairs.
As Chiliz.net exchange is integrated with Socios.com, it takes part in Fan Token Offerings. The corresponding section on the platform allows users to buy coins with CHZ. Any Fan Tokens bought on Chiliz.net can be transferred to Socios.com. The platform also provides BlockScout, a tool for analyzing EVM (Ethereum Virtual Machine) based blockchains. Advanced users can refer to the API documentation and get API keys as well. You can also find the API data necessary to publish Fan Tokens Trading on your site.
One of the ways to earn additional coins proposed by Chiliz is by inviting friends. Users, whose invitees register, verify their accounts and complete a buy or sell on the platform can get from 10% to 40% commissions from their referrals’ trading fees. The percent depends on the total amount of referrals, so the more you invite the more commissions you get. Citizens and residents from the USA including Green Card holders are not allowed to trade on Chiliz.net.
Chiliz.net is a cryptocurrency only exchange so fiat deposits are not possible. Depositing is free. Trading fees depend on the selected pairs. For CHZ pairs they make 0% for buyers and 0.6% for sellers. Users trading other pairs are charged with 0.2%. Members with a high trading volume can apply for reduced fees.
The withdrawal minimum, fees, and type of verification depend on the token. If the withdrawal amount is less than 1 BTC users need to enter the asset password and 2FA verification. Withdrawals started with assets amounting to 1 BTC or more require passing KYC (ID verification) or a manual review.
Chiliz token (CHZ) is a digital asset for sports entertainment platforms. It is both an ERC20 utility token on the Ethereum blockchain and BEP-2 token on Binance Chain. It can be used by sports fans to acquire or trade Fan Tokens and to buy direct voting power of their favorite organizations.
The total supply of 8.8 Billion CHZ was generated from February to October 2018 raising over 66 million USD through the ICO and private placement. The token is distributed in the following way: 7.5% went to the seed investors, 3% to the advisory board, and 5 % to the team. 15% are spent on strategic acquisitions, 15% on marketing operations, 20% on userbase reserve, and 34.5% on token sale and pre-sale. 58% of pre-sale and sale funding are spent on the development of the Socios.com platform. The rest of the funds is used to acquire new users for the Socios.com platform, grow engagement in its voting utilities and P2P user experiences, support Socios.com operational independence and security.
CHZ are fungible, they can be owned, transferred from one owner to another and their price is determined by the market. You can buy CHZ tokens from Chiliz.net, Socios.com app or on multiple cryptocurrency exchanges such as Binance, Bitmax, Kucoin, or Omgfin. Any of the wallets, which support ERC20 protocol, like ZenGo or Trust Walle, can be used for storing CHZ.
Chiliz team and partners
The Chiliz team consists of over 75 cross-industry professionals of different nationalities with experience in entertainment, sports, gaming, blockchain, marketing, web and platform development, and tokenization.
Alexandre Dreyfus is the CEO and founder of Chiliz and Socios.com, and also the CEO of Chiliz Blockchain Campus. He has 20+ years of experience as an entrepreneur in the digital space building and maturing tech businesses. Emma Diskin, marketing and communications professional with extensive experience in corporate communications and entertainment, is the Chief Operating Officer at Chiliz and Socios.com. Thibaut Pelletier is the Chief Technology Officer, an expert in platform development for gaming and digital media. Christos Georgiou is the Lead Software Engineer. Karen Sciberras Paller is the Head of Product at Chiliz and Socios.com who specializes in virtualization and mobility technologies.
Among the Chiliz partners are Binance, which is also its early investor, Enjin, blockchain ecosystem developer, Paratica, a system that develops automated trading solutions for crypto traders, and Chainlink, an oracle network for connected smart contracts.