Chiliz - monetization of entertainment organizations

Chiliz — a sports and entertainment cryptocurrency from the Maltese FinTech provider of the same name.

Contents:

• About Chiliz project
• Features of Chiliz
• Safety
• Token

About Chiliz project

Chiliz — the project behind the Socios platform and the CHZ token. CHZ, in turn, is an ERC-20 token, running on the Chiliz blockchain, created on the basis of Ethereum. This token serves to allow users to buy NFTs from the Socios token marketplace, created by Chiliz for fans. For sports clubs and associations, fan tokens offer a way to connect with their fans and unlock new sources of income.

The company aims to bridge the gap between active and passive fans. Chiles has partnered with some of the world's largest sports organizations:

• FC Barcelona;
• Manchester City;
• Juventus;
• Paris Saint-Germain;

By purchasing a CHZ token, fans become available to different fan tokens and users literally get a stake in their club. Chiliz is owned by the international sports and entertainment organization Mediarex Group. Alexander Dreyfus is the general director of the project.

Features of Chiliz

The blockchain platform has become an intermediary for the direct participation of average sports fans in the decision-making process of clubs and organizations. Chiliz is constantly creating new ways for fans to interact.

Platform features:

The Socios app allows users to purchase NFTs, earn them through contests, trade them with other users and trade them for branded bonuses and merchandise. The site currently offers branded NFTs from over two dozen sports and esports teams, with more coming soon.

Safety

CHZ is available on multiple blockchains such as Ethereum, Binance Smart Chain and Tron. Fan tokens are minted on the Socios sidechain, using a proprietary crowd control mechanism, so fans are in a secure environment and only vote in publicly verified polls. The sidechain uses the Proof-of-Authority consensus mechanism. Proof of authority is mainly used by private organizations that have private blockchains and only users in their ecosystem participate. It is less decentralized than other consensus mechanisms, but is highly scalable and highly secure, making it an ideal choice for a sidechain. The CHZ token has been audited by Certik.

Token

The total supply of CHZ is 8.8 billion coins, minted at launch in October 2018 and distributed to early adopters without any public sale other than what was available through exchanges. The distribution of tokens is as follows:

• 15 % — strategic acquisitions;
• 5% — Team;
• 7% — Seed investors;
• 3% — Advisory council;
• 15% — Marketing;
• 20% — user base reserve;
• 34,5% — Sale of tokens;

CHZ is available on Binance, Huobi, Coinbase, FTX and many other exchanges.