Bitcoin emerged as the first and largest cryptocurrency to redistribute power. From large, centralized players in finance to individual people. The focus is on decentralization, i.e. the distribution of central power holders across many individual nodes in the network. The result is a cryptocurrency that does not need institutions like banks or states to function.
The crypto sports platform Chiliz is planning something very similar – albeit on a manageable scale. This is also about the shift in power and the participation of individuals. Aimed at the sports sector, users should have more rights to design sports clubs. The focus is on the Chiliz Token (CHZ).
Do you want to know more about the Chiliz Token (CHZ)? Then take a look at the relevant BTC-ECHO ACADEMY entry.
How does Chiliz Token (CHZ) work?
The idea behind the token: Anyone who purchases it can use it to buy fan tokens. You can then use this to take part in votes, for example. This is intended to create digitally linked fan communities. The token is, however, closely linked to the socios.com platform. The fan tokens are traded on this.
The latter has already been able to win numerous renowned football clubs as partners. These include FC Barcelona, Paris Saint-Germain and AC Milan. But the company has also been able to win partners in other areas such as gaming, martial arts, motorsports, basketball, tennis, American football and rugby.
Conclusion on Chiliz Token (CHZ)
You probably have to cushion yourself a bit: the Chiliz token does not have any real revolutionary potential. Although fans are granted certain rights, real and important decisions are not made here. Nevertheless, the token shows what possibilities cryptocurrencies and blockchain technology offer.
Even as an investment case, the token seems to be strongly linked to the rest of the crypto market, especially to the mood around Bitcoin (BTC). In the past it was clear that the prices were quite strongly correlated. That doesn’t rule out future successes. However, it is not possible to assess at this point whether the token can be successful in the long term.
This might also interest you