What is Chiliz (CHZ)?

The Chiliz blockchain-based platform, which promises to revolutionise the sports and entertainment industries by utilising blockchain technology to offer creative solutions for fan interaction, loyalty schemes, and tokenized assets, is powered by Chiliz (CHZ), a digital currency.

The History of Chiliz

Alexandre Dreyfus, a seasoned businessman with experience in the gaming and sports industries, launched Chiliz in 2018. The ERC-20 standard is used by the Chiliz platform, which is based on the Ethereum blockchain and uses CHZ as its native coin. Since its debut, Chiliz has had substantial growth in the sports sector, forming partnerships with numerous clubs, associations, and competitions throughout the world to implement its blockchain-based solutions.

The Use Case of Chiliz

Through its blockchain-based platform, Chiliz intends to close the gap between sports teams, organisations, and fans by offering creative fan engagement solutions. As a utility token that can be used for fan engagement activities including voting in polls, viewing special content, and taking part in loyalty programmes provided by sports teams and organisations, CHZ has a variety of uses.

On its platform, Chiliz also provides tokenized assets, such fan tokens, which are distinctive digital assets that stand in for ownership or voting rights in a sports team or organisation. On multiple exchanges, fan tokens may be purchased and traded, giving supporters a stake in their prefered sports teams and a voice in the decision-making process.