Chiliz

Chiliz In-depth Report Generated by AI - For further details, please review:

https://sosovalue.com/coins/chiliz

1)What is CHZ?

Chiliz (CHZ) is a digital currency specifically designed for sports and entertainment tokenization. Launched in 2012 as part of the Mediarex group and gaining prominence with the Socios.com platform and CHZ token in 2018, it enables fans to interact actively with their favorite sports teams. CHZ, an ERC-20 token on the Ethereum blockchain, allows fans to vote and influence decisions of participating organizations on Socios.com. The platform has partnered with major football clubs like FC Barcelona and Manchester City, providing fans with tokens to cast votes. Recent advancements include the launch of Chiliz Chain 2.0 in early 2023, an independent layer-1 network fostering a scalable ecosystem for SportsFi applications. This transformation aims to promote decentralized app development, facilitated by partnerships with developer toolkits Moralis and Tatum. Despite a price decline year-to-date, CHZ experienced a significant surge, highlighting its growing potential in bridging blockchain technology with sports and entertainment fan engagement.

2)Which sector does CHZ belong to?

Chiliz (CHZ) is positioned primarily in the sports-entertainment business, particularly in the realm of sports fan engagement. It has created the Socios.com platform on the Chiliz blockchain, where the native Chiliz token (CHZ) is used as the exclusive currency. This setup is designed to create unique experiences for sports fans and monetize fan engagement using blockchain technology. The platform is heavily used in sports, especially football, and has partnerships with high-profile entities like Juventus, AC Milan, and the UFC. The SocialFi sector, which encompasses Social Finance, combines social media networks with web3 and DeFi elements. It's an innovative field that facilitates the development, control, and ownership of social media platforms and user-generated content on them, providing a method to reward users by tokenizing social influence. This sector thrives on technological improvements that make tracking and measuring the social and environmental impact of investments easier, thereby enabling better decision-making for investors. Currently, the SocialFi market is growing rapidly, driven by the demand for censorship-resistant social media platforms and a growing awareness of social and environmental issues among individuals and businesses. This has led to the emergence of alternative social media platforms not bound by traditional agendas. However, SocialFi platforms face challenges like regulatory uncertainty, risks of fraudulent projects and hacking attacks, and the need for robust privacy and data protection measures. In terms of development prospects, the SocialFi market is expected to experience significant growth between 2023 and 2030, highlighting the importance of key players in the sector. The expansion is influenced by factors such as the democratization of finance, growth of decentralized technologies, and the financial sector's demand for social engagement. However, overcoming challenges like regulatory compliance and establishing strong security measures will be crucial for the sustained growth of this sector. Considering Chiliz's focus on fan engagement in sports and entertainment through blockchain technology, it aligns well with the objectives of the SocialFi sector, which is primarily about leveraging social interactions in decentralized finance and technology platforms. This synergy suggests that Chiliz (CHZ) could be an influential player in the evolving landscape of SocialFi, contributing to its growth and innovation.

3)What is tokenomics of CHZ (includes allocation and supply schedule)?

Tokenomics of Chiliz (CHZ):

Maximum Supply: The maximum supply of Chiliz (CHZ) is capped at 8,888,888,888 tokens.

Circulating Supply: As of the latest data, the circulating supply is 6,975,647,158.46 CHZ.

Start Date: The Chiliz project began in September 2019.

Funding: In Q2 of 2018, Chiliz raised $66 million through Private Placement and distributed CHZ to early contributors. The token was then listed on major cryptocurrency exchanges like Binance, BitMax, and KuCoin.

Usage: A significant portion of the funds is used to build the fan engagement and rewards app, Socios.com. CHZ is used as the exclusive currency on this platform for purchasing Fan Tokens, which offer users decision-making power and access to exclusive rewards. Token Distribution and Supply Schedule:

Token Distribution: The CHZ tokens are allocated as follows: 34.5% for Presale and Tokensale, 20% for User Base Reserve, 15% each for Strategic Acquisitions and Marketing Operations, 7.5% for Seed Investors, 5% for the Team, and 3% for Advisors.

Creation and Supply Mechanism: CHZ was initially issued as an ERC-20 token and later added to Binance with its BEP2 token.

Burning Mechanism: Chiliz implements a burning mechanism for its tokens. After CHZ’s all-time high in Q1 2021, they burned $800,000 in tokens, which was 20% of the total fees netted by the exchange. They also conduct quarterly token burns and have so far burned 57,810,149 CHZ tokens. Additionally, there is a unique Head2Head Burn event where fan tokens are burned following matches based on the results. Token Allocation:

The token allocation for Chiliz (CHZ) is structured as mentioned above in the token distribution section. The largest allocations are for presale and tokensale, followed by reserves for the user base, strategic acquisitions, and marketing operations. Token Release Over Time:

Chiliz hasn't provided a detailed timeline for the release of its tokens over time beyond the initial distribution and the ongoing burning mechanism. The burning events and other token management strategies could impact the circulating supply of CHZ over time.

4)What about the team and the investors of CHZ?

Team Behind CHZ The team behind Chiliz (CHZ) is led by founder and CEO Alexandre Dreyfus, who also founded Webcity.com, a city guide website, and Winamax, an online poker and sports betting platform. Chiliz is a unit of the Malta-based Mediarex Group, a sports and entertainment organization formed in 2006. The organizational structure of Chiliz includes several key figures in addition to Alexandre Dreyfus. Emma Diskin serves as the Chief Operating Officer, Max Rabinovitch is the Chief Strategy Officer, Thibaut Pelletier holds the position of Chief Technology Officer, Fiobian Manicolo is the Finance Director, Mark Verdegaal is the Chief Product Officer, Dorianne Spiteri is the Chief Legal Officer, Gilbert Camilleri is the Marketing Director, Karim Virani is the Partnerships Management Director, James Newman is the Director of Corporate Affairs, and Julian La Picque is the Group Chief Financial Officer. The team consists of over 350 professionals from various industries and nationalities, reflecting the diverse and expansive nature of the Chiliz project Funding History In terms of funding, Chiliz raised $65 million in June 2018 in a funding round led by Binance. This round also saw investments from notable industry names like OK Blockchain Capital, FBG Capital, Ceyuan Ventures, and Bancor. Additionally, in March 2021, Chiliz announced a $50 million investment for its expansion into the United States.

5)What is the development history of CHZ?

List all important events and milestones in the development process of CHZ. Significant Milestones in CHZ's Development（updated to 2019）

Launch of Chiliz: Chiliz was launched in 2018 by the Maltese-based sports company Mediarex, led by CEO Alexandre Dreyfus. The firm's advisory panel included notable figures from the sports and business sectors.

Fundraising and Expansion: In June 2018, Chiliz raised $65 million in a funding round led by Binance, along with other industry names like OK Blockchain Capital, FBG Capital, Ceyuan Ventures, and Bancor. In March 2021, the company announced a $50 million investment for expansion into the United States.

Introduction of Fan Tokens: In 2019, Chiliz introduced Fan Tokens in partnership with major football clubs like Juventus and Paris Saint-Germain. These tokens, created on the Chiliz blockchain, allowed fans to vote on minor club decisions through the Socios.com app. Several other major sports clubs have since launched their own Fan Tokens.

6)What is the progress and future roadmap of it?

Recent Progress

Chiliz Chain 2.0: Chiliz launched its Chiliz Chain 2.0 in the first quarter of 2023, marking the start of a new era for the SportsFi blockchain. This chain is an independent layer-1 network, created as a fork of BNB Chain, and is designed to support custom SportsFi applications.

Developer Activity: To stimulate more developer activity on Chiliz Chain 2.0, the ecosystem announced major developments, including partnerships with Moralis and Tatum, two leading developer toolkits.

Hackathon Event: A global hackathon hosted by Chiliz Labs will take place in Istanbul in November 2023, with a focus on launching dApps on Chiliz Chain that cater to Fan Utility or general SportsFi. Future Roadmap

Expansion in Sports and Entertainment: The integration with Moralis and Tatum is expected to accelerate the development and adoption of dApps in the sports and entertainment sectors, expanding Chiliz's role in these industries.

Price Predictions: Price predictions for CHZ indicate potential growth. By the end of 2023, the price could reach as high as $0.116, influenced by these technological advancements and market factors. Long-term forecasts suggest a potential rise to $0.41 in 2023 and even $4.53 by 2030, though it's important to note that these predictions are subject to market conditions and should not be taken as financial advice.

Market Influence: The ongoing upgrades and collaborations, along with the expected growth in the sports and entertainment sectors, are likely to influence the price and popularity of CHZ positivel.

7)List all important links related to it

Chiliz Official Website:Chiliz.com

This is the main website for Chiliz, offering comprehensive information about the project, its vision, and updates.

Socios.com:Socios.com

Socios.com is the platform used by Chiliz to offer Fan Tokens to sports enthusiasts, allowing them to participate in various fan-related activities.

Chiliz Chain Developer Guide:Developer Guide

This guide provides resources and information for developers interested in working with the Chiliz Chain.

Binance (Lead Investor in Chiliz):Binance

Binance is a leading cryptocurrency exchange and was a major investor in Chiliz.

CoinCodex (For Price Predictions and Market Analysis):CoinCodex - Chiliz

CoinCodex provides market analysis, price predictions, and historical data for Chiliz (CHZ).

CoinGecko (For Token Metrics and Historical Data):CoinGecko - Chiliz

CoinGecko offers detailed information on Chiliz’s market cap, trading volume, historical prices, and other relevant data.

Coinpedia (For Future Price Predictions):Coinpedia - Chiliz Price Prediction

Coinpedia provides future price predictions and analysis for Chiliz (CHZ).

8)Bullishness index for this token from the perspective of token valuation and future potential from Chatgpt 4

As of late 2023, the valuation of Chiliz (CHZ) varies slightly across different sources, with a general price range around $0.073 to $0.077. The market sentiment is mixed, leaning towards bullish or neutral, and the Fear & Greed Index shows a score of 74 (Greed). For future prospects, predictions vary significantly. Short-term predictions for the end of 2023 range from a slight increase to a potential high of $0.116. Long-term forecasts are more optimistic, with projections suggesting a potential surge to as high as $0.612 by 2030. However, these predictions should be approached with caution. Cryptocurrency markets are notoriously volatile, and predictions can be unreliable. Past performance, such as CHZ's all-time high of $0.89 in March 2021 and its subsequent fluctuations, highlight this volatility. In summary, while there is optimism in some quarters about Chiliz's future, the cryptocurrency market's inherent unpredictability makes it challenging to provide definitive forecasts. Investors should exercise caution and consider market trends, technological developments, and broader economic factors.