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Sports transcend borders and language barriers. A match between two Spanish professional soccer rivals, Real Madrid and FC Barcelona, attracts fans from all over the world, not just their own country. Fans play the most important role in making these sporting events happen. However, even if fans are dissatisfied with their sports team’s operations, they cannot participate in the management of the club. Is there a way for sports fans to have an indirect, if not direct, say in the operations? Chiliz, a sports fan token project, proposes to do just that through blockchain technology.

What is Chiliz?

Chiliz is a project that powers Socios, the world’s first blockchain-based fan engagement and rewards platform. Fans can buy and trade Fan Tokens, which are assigned to soccer clubs and other organizations with which Socios has official partnerships, and have the right to participate in surveys, influence, and vote on important aspects of the team’s operations. Notable partnerships include soccer clubs such as FC Barcelona, Juventus FC, Paris Saint-Germain FC, Inter Milan, and Atletico Madrid, as well as mixed martial arts organizations, the UFC, and esports and F1 teams. In 2018, Chiliz raised $65 million in funding from Binance, OK Blockchain Capital, FBG Capital, and others, and its native token, the CHZ token, is now listed and traded on exchanges including Binance, OKX, Upbit, and Korbit. The CHZ token allows sports fans to purchase designated branded fan tokens and gives them the right to vote in polls within the Socios app.

CHZ token as an investment

CHZ token has a market capitalization of more than $1 trillion, ranking 59th on CoinMarketCap as of April 5. Out of a total supply of 8.8 billion, about 6.7 billion are currently in circulation, trading at 165.5 won each.The top 10 token holders hold 69.62% of the token, and 89.61% if you extend the list to the top 100, making it a fairly centralized token.

CHZ token is a token with a long holding period for its holders. 55% of the holders have held it for more than a year, and 40% have held it for more than a month. This means that there are many users who are buying for long-term investment.

CHILIZ enters the S.Korea market

Chiliz officially announced its entry into Korea in January 2020, and has been operating a dedicated Korean community on its official blog and official Discord server. In 2021, we announced an official partnership with the K-League’s Pohang Steelers, and in February of this year, we celebrated our fifth anniversary with a new logo and the announcement of South Korean international and Serie A Napoli defender Kim Min-jae as our brand ambassador.
On March 14, CEO Alexandre Dreyfus personally traveled to South Korea to host the Chiliz 2023 Korea meetup in Gangnam, where he announced plans to invest in the local sports industry, expanding the ecosystem and strengthening community ties. While many blockchain projects are indifferent to the local community, Chiliz seems to be very interested in the Korean market, which has an active professional sports scene, as the project itself is based on sports.

Activating the community

Chiliz takes communication with sports fans seriously and is actively utilizing various social media platforms at the point of communication. Chiliz’s official Twitter account has 490,000 followers, Discord has 30,000 followers, and Instagram has 2.7 million followers, and it interacts with sports fans through various channels such as Medium and Facebook.

A new way to enjoy sports with fan tokens

Chiliz’s fan tokens fluctuate in price depending on the team’s performance and popularity, so many fans use them like sports betting. On Upbit, South Korea’s largest cryptocurrency exchange, five fan tokens are listed and traded, including Juventus’ fan token $JUV, Paris Saint-Germain’s fan token $PSG, and AC Milan’s fan token $ACM. Fans of other sports teams want to see their favorite team’s fan tokens listed and traded, as their team’s victories, success, and popularity reward fans who own fan tokens for their support. With Chiliz, sports fans can find another way to enjoy sports — think of the price spike when Paris Saint-Germain reached the European Champions League final. It’s not just about betting like sportsbooks, it’s about being a community that cheers and communicates together.