In the current cryptocurrency market, competition in various tracks is becoming increasingly fierce. From artificial intelligence (AI), real world assets (RWA), DEPIN to GameFi, we have witnessed the active participation and innovation of many projects.

Against this background, the Chiliz project stands out with its unique SportFi (Sports Finance) model, creates its own ecological chain, and attracts widespread attention through products such as fan coins. Especially during the previous World Cup, related fan coins showed significant growth. As the 2024 European Cup approaches, people can’t help but look forward to whether Chiliz will set off a new trend this year. CoinGecko data shows that the total market value of sports fan tokens in the Chiliz ecosystem has exceeded US$300 million, which is a volume that cannot be ignored.

()

The following is an introduction to the Chiliz project and its ecosystem, aimed at helping users seize market opportunities during the 2024 European Championship and Olympic Games.

Introduction to Chiliz, the leading Web3 project in the sports section: platform token + trading platform + public chain + fan token

Chiliz is a revolutionary blockchain project that focuses on bringing the sports and entertainment industries into the Web3 era. It connects fans with the sports teams or entertainment entities they love in innovative ways, opening up a new field of SportFi (sports finance).

CHZ Token: CHZ is the native cryptocurrency of the Chiliz platform and serves as the economic backbone of the entire ecosystem. It circulates not only in major cryptocurrency exchanges but also plays a vital role in purchasing fan tokens and participating in platform activities. The circulation and application of CHZ provide fans with a new way to support and engage with their favorite sports teams or entertainment stars.

Socios.com Platform: Socios.com is Chiliz’s flagship product, an interactive platform designed specifically for sports fans. Here, fans can use CHZ to purchase fan tokens for the teams or clubs they support, and then participate in the decision-making process, such as voting for the team’s new anthem, jersey design, etc.

Fan Tokens: Fan Tokens are one of the core innovations in the Chiliz ecosystem. These tokens represent a digital, tradable proof of fan participation, allowing fans to have a say in certain decisions made by sports teams. The introduction of fan tokens not only deepens the connection between fans and teams, but also opens up new revenue sources for sports teams.

Chiliz Chain: Chiliz chain is a Layer-1 blockchain tailored for the sports and entertainment industry. It supports smart contracts and decentralized applications (dApps), providing developers with a powerful platform for building various sports-related applications. The launch of Chiliz chain not only strengthens the infrastructure of the Chiliz ecosystem, but also provides new possibilities for the digital transformation of the sports industry.

Explanation of CHZ: A hard currency for users to purchase fan tokens, serving as a value certificate for participating in on-chain sports ecosystem governance

CHZ, as the native token of the Chiliz platform, plays an indispensable role in the entire SportFi ecosystem. This token is not only a tool for trading and investment, but also a bridge connecting fans, sports teams and the blockchain world. CHZ is designed to provide a stable and efficient exchange medium, allowing fans to easily purchase and trade fan tokens of the teams they support globally.

The use of CHZ tokens is not limited to the purchase of fan tokens. Within the Chiliz ecosystem, it can also be used to participate in various polls and events, allowing fans to have a real impact on the sports teams they support. In addition, CHZ provides fans with the opportunity to participate in special events and experiences, such as VIP experiences, signed merchandise, etc., which are not easily available to traditional sports fans.

With the launch of Chiliz chain last year, the role and importance of the CHZ token in Chiliz’s ecosystem has grown significantly.

On the Chiliz blockchain, the application scenarios of CHZ tokens have been greatly expanded. First, it became the primary currency for purchasing and trading fan tokens. Fans can use CHZ to purchase tokens for the sports teams or clubs they support, and then participate in various voting and interactive activities. This mechanism not only strengthens the connection between fans and sports teams, but also provides sports teams with a new interaction and revenue channel.

In addition, CHZ’s application on the Chiliz chain also includes transactions in the NFT market. With the rise of the NFT market in the sports field, CHZ has become an important currency for purchasing, trading and auctioning sports-related NFTs. This not only provides fans with a new way to collect and invest in sports memorabilia, but also brings new vitality to the sports memorabilia market. In Binance’s fan currency rankings, it has a total market value of 1 billion and a transaction volume of 200 million. Among them, the CHZ token alone has a trading volume of 100 million within 24 hours.

Overall, the launch of Chiliz Chain has opened up a broader application space for CHZ tokens, making it an important bridge connecting sports, blockchain and fans. As the Chiliz ecosystem continues to develop and improve, the role and value of CHZ tokens in the sports blockchain field is expected to be further enhanced.

Chiliz Chain: Linking Layer1 public chain with EVM, committed to becoming the infrastructure for Web3 sports projects

Chiliz chain is a core component of the Chiliz project and officially launched in May 2023, marking an important step for the company in transitioning the sports industry from Web2 to Web3.

Chiliz chain is a Layer-1 blockchain that is compatible with the Ethereum Virtual Machine (EVM) and adopts a Proof-of-Stake Authorization (PoSA) model. This model not only provides lower transaction fees and shorter block times but also significantly reduces energy usage, showcasing Chiliz’s commitment to sustainable development technology. The launch of Chiliz chain provides the infrastructure for sports teams and brands to build Web3 products, promoting greater interaction and direct connection with their communities.

Key features of Chiliz chain include 11 active PoSA node validators, including well-known companies in the blockchain industry such as Jump Crypto, Paribu, and Meria. These validators are responsible for verifying transactions and creating a highly secure environment for approved developers to build projects that will become the cornerstone of Web3 in the sports industry. All fees on Chiliz chain will be paid using Chiliz’s native token, $CHZ, and $CHZ holders can participate in the ecosystem’s development by staking their tokens on the chain, earning rewards as a result.

Chiliz chain aims to become the home for leading sports brands in Web3, providing a platform for partners of Socios.com and other major sports brands to explore innovative ways of combining fan tokens and Web3 technology. Through Chiliz Labs, a $50 million accelerator and incubator supported by Jump Crypto, Chiliz chain will continue to drive innovation and development in Web3 sports projects.

From BAR to CITY, a glimpse of a series of fan tokens on the Socios.com platform

Fan tokens are a great innovation of the Chiliz platform. Fan tokens are utility tokens on the Socios.com platform. Currently, these tokens can be created on the Chiliz chain, serving not only as digital assets but also as symbols of community identity. Users who hold fan tokens can participate in the decision-making processes of their favorite teams, such as voting for a new team anthem or jersey design.

As a type of digital asset, utility tokens encompass all digitally created and stored content that has or provides value. Different from other types of digital assets, utility tokens are created using blockchain technology and are specifically designed for a particular purpose, meaning they have practicality.

On the Socios.com platform, the main function of fan tokens is to reward the passion of fans. It allows sports enthusiasts to establish a more direct connection with the teams they support through blockchain technology. Fans can use these tokens to participate in official team voting, match check-ins, games, player selection, and match result predictions. Through these activities, fans can earn reward points, which can be exchanged for once-in-a-lifetime experiences, exclusive benefits, and other privileges.

Fan tokens are not just a form of digital currency or investment tool; they are also a new way to connect fans with the sports teams or individuals they support. Holding and using fan tokens enables fans to participate more deeply in the daily activities of their beloved teams or clubs, strengthening the connection and interaction with the team.

1. Barcelona FC Fan Token (BAR): enables fans to participate in the club’s decision-making process and enjoy exclusive rewards.

2. Juventus Fan Token (JUV): Provides fans with unique interaction opportunities and voting rights on club decisions.

3. Paris Saint-Germain Fan Tokens (PSG): Allow fans to influence certain club activities and experience exclusive content.

4. AC Milan Fan Token (ACM): Provides fans with a new way to strengthen their connection with the club.

5. Manchester City Football Club Fan Token (CITY): Provides opportunities to participate in club activities and enjoy exclusive rewards.

These fan token projects not only deepen the connection between fans and clubs, but also bring new business models and sources of revenue to the sports industry. With the development of technology and the maturity of the market, it is expected that more sports teams and organizations will join the ranks of fan tokens, further enriching this emerging market and achieving better development in the new wave of competitions.

Introduction to Chiliz’s SportFi ecosystem: a miniature Web3 application world

Chiliz’s SportFi ecosystem is a diverse and dynamic network that combines sports and blockchain technology to provide the sports industry and fans with new ways to interact and create value. Here is a detailed introduction to the Chiliz ecosystem:

1. Fan Tokens: The core of the Chiliz ecosystem is its fan tokens, including the tokens of more than 80 top sports clubs such as Paris Saint-Germain, Juventus, and AC Milan. These tokens not only trade as digital assets, but also enable fans to participate in the decision-making process of the teams they support.

1. Infrastructure support: The ecosystem contains multiple infrastructure tools, such as Moralis, Tatum, ANKR, Pyth, Biconomy, etc., providing developers with powerful technical support to build and maintain SportFi applications.

2. Community and fan applications: Chiliz provides an interactive platform for fans through applications such as Socios.com, allowing them to participate in voting, obtain exclusive rewards, etc. In addition, there are various community applications such as Blockasset, FanFest, LiveLike, etc., which enrich the fan participation experience.

3. Markets and exchanges: Fan tokens within the ecosystem can be traded on multiple markets and exchanges, such as Binance, OKX, BitGet, etc., which guarantees the liquidity and accessibility of fan tokens.

4. Custody solutions: A variety of custody solutions, including BitGet Wallet, Magic Link, Fireblocks, etc., ensure the security and convenience of assets.

5. Decentralized Finance (DeFi): The integration of DeFi platforms such as LENX and PepperSwap provides fans with more possibilities for financial interaction.

6. Verification nodes: The verification node network composed of Ankr, Paribu, Meria, etc. ensures the security and stability of the Chiliz chain.

7. Permissionless construction: Chiliz chain has now become a permissionless platform, allowing any developer or company to launch projects, smart contracts and tokens without governance barriers.

Risks and opportunities coexist: The 2024 European Cup is approaching, and the crypto circle may usher in a round of sports token market

As the 2024 European Cup approaches, Chiliz, as a pioneer in the field of SportFi, has attracted much attention for its future performance. Chiliz has established a solid position in the sports and entertainment industry through its innovative Fan Tokens and Chiliz chain, providing new ways for fans to interact with the teams they love. This unique interaction not only enhances fan participation, but also brings new business opportunities to sports teams.

During the past World Cup, Chiliz demonstrated its strong market potential, with impressive performance of fan tokens. Now, with the European Championship approaching, expectations for Chiliz in the market are rising. People are curious whether this platform that seamlessly integrates sports and blockchain technology can once again create a wave of excitement in the upcoming major sports events.

Chiliz’s success lies not only in its technological innovation, but also in how it has redefined the way fans engage and sports teams are commercialized. As more sports brands and teams join, the Chiliz ecosystem will continue to expand, bringing more innovation and opportunities to the sports industry. However, as an emerging market segment, SportFi’s future is still full of uncertainties. Whether Chiliz can once again prove its market leadership during the European Cup remains to be determined by the market and fans.

Disclaimer：

1. This article is reprinted from [PANews]. All copyrights belong to the original author [DeMan]. If there are objections to this reprint, please contact the Gate Learn team, and they will handle it promptly.
2. Liability Disclaimer: The views and opinions expressed in this article are solely those of the author and do not constitute any investment advice.
3. Translations of the article into other languages are done by the Gate Learn team. Unless mentioned, copying, distributing, or plagiarizing the translated articles is prohibited.