Welcome back to our weekly special feature, where we quickly review the best performing token of the past week, as seen in our last Weekly Recap, along with trying to discover the reason of their climb. This week we will cover Chiliz, a project that wants to implement the benefits of blockchains and tokenization into one of the most profitable landscapes: sports.
From the Stands to the Screen
Sports have evolved with modern days. Communications allows for live events to be witnessed simultaneously by millions of fans around the world, reaching levels of engagement never thought of in the past decades. But have we reached the pinnacle of interaction with fanbases? The team at Chiliz thinks we have not.
Chiliz is a fintech firm that works alongside Socios.com, a platform that allows fans and followers to crowd-manage teams, matches, leagues and events, allowing them to interact with each other and their favorite teams in more immersive ways. But this evolution is not isolated, and the rest of the sports environment has clearly evolved with its fans, to the point where engagement is no longer measured in the sheer number of spectators a team can gather, but how can they activate and monetize said audience by giving them control.
This is what Chiliz calls “radical fan engagement” and it is where they began building their project. Socios.com gives the opportunity to big teams with fans all around the world to issue Fan Tokens via FTOs (Fan Token Offerings) into their blockchain. These tokens give the holders decision-making power in the form of a vote in polls created by the teams and published on the platform, as well as access to exclusive content and social connections.
They have been going strong and at a steady pace, starting active work in early 2018 and building actively since then. Now they have a working alpha version of the platform, which is expected to be launched publicly in Q4 2019, along with and on-site team in Malta, top-tier partners like Juventus, Paris Saint-Germain, Atletico Madrid, OG eSports and AS Roma and a recently launched CHZ token.
Strong Momentum
With such big names pushing their proposal forward, it is no surprise that their development team has grown healthily, reaching 50 people and spanning 20 nationalities, with offices in Lyon and active operations in Singapore, Seoul and Buenos Aires, cities that are either technology-driven or sports-obsessed, and they have also raised around $66 million through private placement.
They have already placed the foundations for a solid future, and already took the hardest and largest step of partnering with teams known all around the world, and they will definitely be the factor to tip the scales in favor of Chiliz.