Chiliz has garnered significant recognition since making its market debut in 2018, boasting an overall market valuation exceeding $500 million. Despite its high volatility, spiking up and down over the past couple of months, Chiliz has retained its position as the leader of the bustling sports-focused cryptocurrency niche.
In fact, Chiliz is now closer to the top 100 cryptocurrencies on the market, thanks to recent developments around the project – which includes the 1.5 billion milestone in staked CHZ. This exciting feat, coupled with Bitcoin’s rebound above $62k has boosted investor’s confidence in CHZ, causing a major surge in its price. Over the past 30 days, CHZ has demonstrated a solid performance, soaring 30% to touch the $0.06 level.
Will the next movement be a retracement? or will the token end the year on a more positive note? We try to forecast the possible performance in 2024 and beyond.
What is Chiliz Crypto?
Chiliz is a platform that uses blockchain technology to give the ultimate fan experience for sports and entertainment. They aim to provide fans with a new way to engage with sports teams and help sports enterprises monetise through tokens that let fans hold a stake in their team.
The Chiliz (CHZ) token is an ERC-20 utility token on the Ethereum blockchain that serves as the digital currency for ChiliZ and Socios.com – a sports fan engagement platform where fans can buy branded non-fungible tokens to show their support for their favourite athletes, teams, and entertainers. Chiliz also has several other projects, such as Fantokenstats.com, FanTokenRank.com, and Socios Journal.
What Is Chiliz Token Used For?
Chiliz operates on a side chain of the Ethereum network, and this side chain is the basis of Socios.com. It hosts any team, league, game title, or other organisation that connects with the platform. Each organisation’s crowd-voting procedures operate as a semi-autonomous entity on this blockchain.
Chiliz allows sports fans to enjoy a one-of-a-kind experience with their favourite teams. Fans may purchase branded fan tokens for their favourite teams using the CHZ token, the platform’s native cryptocurrency.
The fan tokens on Socios.com that are for sale are more than just collectables. NFTs come as team-branded tokens that provide fans with interactive experiences with their teams and control over team decisions. The fans may purchase and trade fan tokens and have the power to participate, influence, and vote in club-focused surveys & polls.
Chiliz aspires to develop a blockchain ecosystem geared toward sports and entertainment. Fans who have obtained tokens may express themselves by casting votes in polls organized by teams that have partnered up with Socios.
For example, the football club Juventus FC allowed token holders to choose the celebration song that would play over loudspeakers after the team scored a goal. Juventus celebrated goals with a song called Chelsea Dagger for eight years. Now, the Juventus fan token holders chose ‘Song 2’ by the band Blur as a replacement, and so the team moving forward will play that song.
Additionally, Chiliz is not just about paying for tournaments; it can also be used as an investment tool for players who wish to use their skills to build up a portfolio of cryptocurrencies. In addition, there are also opportunities for individuals who do not wish to play games but simply want an alternative way of making money by investing in cryptocurrencies such as Chiliz Crypto Coin (CHZ).
What’s more, there is also a fantasy league powered by CHZ. Chiliz has a blockchain-based sports betting and fantasy platform that allows users to play the traditional sports of FIFA, basketball, hockey, and League of Legends. It’s also among the most popular ways to play fantasy sports in Qatar.
The site offers over 40 different leagues for users to join and compete against each other. You can create your own team or join an existing one by paying entry fees (which go toward cash prizes).
Chiliz Crypto Project Background
Chiliz was created by a group of developers based in the UK who wanted to create a cryptocurrency that would be easy to use and accessible to everyone. The creators of Chiliz are also responsible for other projects including the CasinoCoin cryptocurrency, which sees more than 100 million dollars in deposits each month.
Founded in 2018 by Alexandre Dreyfus, Chiliz was conceptualised based on the fact that fans had little to no connection or collaboration with their preferred teams or players in the present sports and esports scene.
Chiliz was built on the urge that exists to ‘activate’ followers as influencers. Through this, Chiliz aims to establish a platform where fans receive a direct vote in their favourite sports organisations, can network with like-minded fans, and help finance new sports and esports businesses.
It was launched privately with an initial supply set at 8,888,888,888 CHZ tokens while being backed by investors such as Binance Labs, CeYuan Ventures, Jump Capital, Kosmos Capital, and many more. In the second quarter of 2018, Chiliz raised $66 million through private placement. After that CHZ became listed on many crypto exchanges.
Most of the initial investment fund that Chiliz earned from its private sale was directed towards constructing a fan interaction and incentives app, Socios.com, which launched at the end of December 2019. As the only on-platform currency, fans may use CHZ to acquire branded ‘fan tokens’, digital assets that give them important decision-making power by allowing them to vote on Chiliz’s partners’ posts inside the blockchain-based Socios app. Ownership also allows fans access to special prizes, engagement, gamification, social interaction, leaderboard features, etc.
Over the years, Chiliz has embarked on strategic collaborations with popular football clubs like SL Benfica, Paris Saint-German, Barcelona, Manchester City, Juventus, and Atlético de Madrid amongst others, redefining how they engage with their respective fan base.
In fact, in early 2024, Chiliz was announced as the official chain validator of Paris Saint-German. Through this strategic effort, the French Club will commit all the revenue generated through the validator into buying back its fan token and promoting digital fan community engagement.
Similarly, Chiliz recently partnered with the French Professional Football League (LFP) and game studio Unagi to launch the first-ever fantasy football game. This game brings a fresh experience where fans of Ligue 1 Uber Eats and Ligue 2 BKT can assemble their ultimate team using digital trading cards and compete weekly to climb both the national and global leaderboards.
𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆 𝐍𝐄𝐖𝐒: The French top football league, Ligue 1 Uber Eats, launches a free-to-play fantasy football game with officially licensed digital cards minted as NFTs on Chiliz Chain! 🌶️✨
Coach Ligue 1 is developed by @Unagi_studio 🤝#ChilizChain ⚡ $CHZ pic.twitter.com/ucrUBi7Dhv
— Chiliz – The Sports Blockchain ⚽🏆 (@Chiliz) March 14, 2024
Meanwhile, Chiliz, following a collaboration with SBI, has launched a venture for sports tokens in Japan. With this development, the platform is redefining the sports experience of Japanese sports fans, empowering them to buy and trade tokens from famous clubs.
SBI Digital Asset Holdings and Chiliz plan to forge joint venture partnership to bring leading sporting Fan Tokens to Japanese enthusiasts 🤝🇯🇵#ChilizChain ⚡ $CHZ pic.twitter.com/buHUcbiJu4
— Chiliz – The Sports Blockchain ⚽🏆 (@Chiliz) May 9, 2024
At the time of writing, Chiliz boasts over 80 fan tokens and more than 100 partnerships.
Chiliz Price History
Chiliz (CHZ) is a cryptocurrency used by the Socios.com project to create a platform for voting, rewards and fan engagement. It’s the world’s first sports and entertainment cryptocurrency that allows fans to vote on their favourite stars and teams, as well as win prizes in-game. Fans can also earn rewards by signing up for partnerships with brands like Nike or EA Sports.
Using blockchain technology, Socios provides an innovative way for clubs and celebrities to connect directly with their fans in a transparent manner. The platform offers premium content such as exclusive interviews, live streams or behind-the-scenes footage through its mobile app. Fans can also buy products from their favourite clubs or athletes using this virtual currency.
Chiliz Price Action in 2018
The project was founded in 2018 at a price of US$ 0.0125. Three months after its launch, Chiliz’s (CHZ) price mostly declined to hit a low of US$ 0.0038.
Then, in early November, the price experienced a reversal and rose to the figure of US$ 0.02. This was largely due to Juventus, a soccer club from Italy, who became the first professional sports club to produce fan tokens, holding a fan token offering and giving their fans voting rights on. team decisions. This was followed by Paris Saint-Germain joining the circle.
This decision marked a major milestone for the blockchain industry and sports tokenization in general. It hugely impacted the company, as they could now offer all users access to the platform without having to pay any transaction fees or commissions while they play games using CHZ tokens.
Chiliz became the world’s first sports and entertainment cryptocurrency. It aims to be the central hub for fans who want to engage with their favourite teams, players, and brands in a more meaningful way through a secure digital currency that can be used within any of our partner platforms.
But unfortunately, the uptrend did not last long as CHZ’s price dropped and closed 2019 with a value of US$ 0.0071.
Chiliz Price Movement in 2020
In 2020, CHZ experienced a bullish trend, precisely in the first half of February with a value of US$ 0.02. But within just a short period of time, the CHZ value fell again to its lowest level of US$0.0039.
However, CHZ regained its value at US$ 0.01 in May. This was largely due to the announcement that Chiliz will be accepted by the UFC as a means of purchasing their official merchandise. Socios.com also launched an app which will allow fans to vote on other things like fight rules and fighter weight classes when they go up against each other at events like Fight Nights or World Series of Fighting (WSOF).
In addition to this, a slew of other companies has begun accepting cryptocurrency as payment including Amazon, Microsoft and Steam. Then, the price of Chiliz (CHZ) rose again in August and reached US$ 0.0226.
The idea behind these partnerships was to expand Chiliz’s reach beyond just football clubs but also include other verticals related to sports, entertainment and lifestyle sectors such as music festivals and travel destinations. This move has been successful so far as we have seen an increase in demand from new customers who are interested in purchasing Chiliz Gold (CZG).
The successful implementation of such a system is evident by the fact that UFC’s owner, WME-IMG, launched its own cryptocurrency—the FanChain—to reward fans and athletes alike. With Chiliz being the world’s first sports and entertainment cryptocurrency, it makes sense that this brand would be at the forefront of this revolution.
In addition to launching its own native wallet where you can store your CHZ tokens as well as other cryptocurrencies like Bitcoin or Ethereum, Chiliz also started offering an exchange platform where you can trade various currencies on a peer-to-peer basis while earning CHZ coins in return for being an active user on their platform; much like how miners mine Bitcoin by solving complex mathematical equations through their computers.
Towards the end of the year, CHZ once again found a bullish moment that made the price stay at the level of $ 0.03. Unlike the previous year, Chiliz (CHZ) ended 2020 at$ 0.0214.
Chiliz Price Movement in 2021-2022
2021 saw a rise in the popularity of NFTs (Non-Fungible Tokens). At the beginning of March 2021, CHZ price skyrocketed and reached an All-Time High (ATH) of US$ 0.8915. This was largely due to the preview release of NFTs for Barcelona, AC Milan, Paris Saint-Germain, and the new partnership with the Indian Premiere League team Kolkata Knight Riders.
Despite a brief decline in the middle of the year, CHZ’s price jumped again to $0.4495 on 6 September after its 2 major partnerships. One with the basketball major leagues, the Chicago Bulls, and the other with La Liga, before falling back to a low of US$ 0.2437 on 28 September. From there on, the price increased again, before finally reaching US$ 0.5935 on 13 November.
But after November, the token price started to decrease and closed the year at US$ 0.1751 on 27 January 2022.
On 10 February 2022, the token briefly made a recovery rising to a daily high of US$ 0.2455. This was due to the announcement of the FIFA token. But soon after, the price then dropped to a low of US$ 0.1956 on 14 February 2022.
Despite rising to a high of US$ 0.23 on 17 February 2022 coinciding with the partnership with UEFA Champions League, again CHZ price fell back to an intraday low of$ 0.1499 on 24 February 2022. This decline was followed by a gain on 1 March 2022. The price reached US$ 0.1953.
CHZ traded sideways into the second half of March and then started to rise, surging from the low of US$ 0.2041 on 23 March to a daily high of US$ 0.3287 on 30 March 2022. This rise can be accredited to the monumental partnerships with Cleveland Browns, Washington Commanders, Pittsburgh Steelers, Los Angeles Chargers, Miami Dolphins, Baltimore Ravens, Atlanta Falcons, Philadelphia Eagles, New York Giants, Tampa Bay Buccaneers, San Francisco 49ers, Chicago Bears, and Los Angeles Rams. This means that you can use your Chiliz tokens to buy food and drinks at Levi’s Stadium during games.
Since then, the price has declined in April, sliding to its low of US$ 0.02223 on 13 April 2022 and US$ 0.0169 on 1 May and has been around the same mark until late 2023.
Chiliz Price Movement in 2023 – 2024
Due to the market-wide downturn at that time, CHZ, like many other asset classes, did not record any substantial price appreciation until late 2023. The rally was fueled by the wild excitement around the arrival of crypto exchange-traded funds, prompting investors from all corners to pour investments into the industry. Amid the uptick in the broader crypto market, CHZ registered a double-digit surge to reclaim the $0.07 mark.
The buzz around the token received another upside boost in January 2024 after Alexandre Dreyfus announced Chiliz’s plans to embark on an aggressive merger and acquisition strategy this year after a successful migration to Chiliz 2.0. This tweet pushed the CHZ higher, even above its initial trendline resistance of $0.080.
CHZ sustained its upside movement for most of the periods in March-April 2024, especially after the crypto king Bitcoin attained its current all-time high of $73,737. The token held the ascending trendline firmly, hovering between $0.13 to $0.17 in those months.
However, CHZ’s stable price trend didn’t last long as numerous macroeconomic conditions, including the rising tension in the Middle East, Fed rate reduction, and unfolding events around the imminent United States presidential elections plunged the global crypto market into a state of high volatility. These factors, coupled with the latest developments within the Chiliz ecosystem, have caused the CHZ price to fluctuate more often over the past few months.
That being said, CHZ has gone up by 10% over the last 7 days following an announcement that investors have staked over 1.5 billion tokens, enriching its long-term potential.
— Chiliz – The Sports Blockchain ⚽🏆 (@Chiliz) October 4, 2024
However, according to data by IntoTheBlock, only 9% of CHZ holders are making money from the current uptrend while 90% are out.
Chiliz Price Prediction – Short-Term Analysis
CHZ’s price performance has been extremely volatile over the past three months and considering the uncertainty in the global crypto market, we may continue to see similar trends till the end of the year.
However, in the event that the general market sentiment turns bullish enough, with CHZ buyers gaining control over their seller counterparts, the token might probably cross the $0.15 level soon.
Chiliz Price Forecast – Is CHZ a Good Investment?
The upward trend of sports blockchain adoption seems unstoppable. Chiliz has a bright future. It is a rapidly growing company that provides a great investment opportunity for those who are interested in the cryptocurrency industry.
Chiliz will continue to make progress with its platform by introducing new features and expanding into new markets around the globe which will lead to more investors joining up with this project as well as higher prices for their tokens which may result in even greater profits from investing now rather than later when prices might be higher again too.
The project has already partnered with various organizations and clubs. As a result of these partnerships, Chiliz’s CHZ token has seen a significant increase in value; its price has climbed by over 100% from this time last year.
Fans can also buy digital art and collectables as NFTs on Socios.com. Not only can you use NFTs to represent sports and players, but also any other form of collectable. As of now, there are over 2,500 different kinds of NFTs on the platform — each one representing something that comes from a different game or genre. You’ll find everything from Overwatch characters to Cowboy Bebop characters.
While macroeconomic conditions in the market are expected to play a big role in CHZ’s long-term performance, future partnerships within the ecosystem will be the major factor driving its price. However, it would be better to buy CHZ after knowing all the forces that are working with it, and against it.
Users can get a good idea of how much value a certain currency holds at any given time by taking into account any and all news released concerning that currency in question. Users should read the news as soon as they can, and make sure to understand what it says before making their purchase or sale.
When reading the news, don’t just look for information about Chiliz; look for any sort of financial news that might have an impact on your investment.
Above all, while the CHZ price analysis offers a promising proposition, investors are also rushing to buy Memebet – a newer ICO project that’s strategically poised for a top-tier CEX listing upon launch.
Memebet – Top Alternative To Chiliz
Memebet is more than just a meme coin. Built on the Ethereum network, this innovative project seamlessly blends the fundamentals of online gambling along with the viral meme culture to solidify its market presence.
Memebet prides itself as the first online casino for degen crypto gamblers, offering a wide range of gambling possibilities that cater to various tastes and preferences. With an ambition to lead the next generation of online gambling and ensure unlimited access to its offerings, Memebet has integrated Telegram, demonstrating its alignment with market trends.
Also, contributing to its appeal is its multi-meme concept, providing an all-around gambling ecosystem for all meme enthusiasts to maximize their tokens. From Dogecoin to Shiba Inu, Pepe, Dogwifhat, Bonk, and several other mainstream meme tokens, Memebet is bringing the entire degen community to enjoy the real ecstasy of decentralized gambling while winning big sums.
Another vital selling point of Memebet is that it is an audited project. It recently passed an audit with Coinsult, an independent blockchain security firm. The project has also earned a partnership with the Argentine Football Association, becoming one of the official regional ambassadors of the national football body.
Powering the innovative casino platform is $MEMEBET. While embodying the ethos of the meme coin lineage, this token also comes with multiple utility ideas, making it an ideal investment option for those diversifying into a new crypto asset offering both fun and functionality.
Those who hold or wager on their favorite games with $MEMEBET will be able to activate a host of VIP benefits, including NFT loot boxes, special high roller bonuses, mega airdrops and promotions, early access to exclusive game features, and lots more.
At the time of writing, Memebet is offering $1,000 tokens for free to celebrate the upcoming launch of its casino platform. To benefit from the airdrop, it is important that you partake in its ongoing presale campaign.
Meanwhile, considering several keh factors, including its multiple reward mechanics, wagering utility, meme coin posture, and presale buzz, top experts like Claybro are tipping Memebet to put up an explosive performance upon launch.
One $MEMEBET is currently exchanging hands for $0.0257 and can be exchanged with BNB, MATIC, USDT, or debit/credit cards.
Conclusion
Chiliz is certainly worth taking a closer look at. With its many partnerships and innovations, the company has shown that it can compete with the best in esports. It’s already made significant progress since its launch and there are plenty of opportunities for growth in the coming years.
However, like other asset classes, CHZ is not immune to the risk of dumping, particularly if the relevance of the token falls. Therefore, it could be a good idea to diversify funds into multiple projects. Among recently launched options, Memebet has emerged as an excellent alternative.
FAQs
What drives the price of Chilliz?
The price of Chilliz is usually driven by sports events, or major developments in clubs or associations that the project is affiliated with.
Is Chilliz a good investment?
Chilliz is an excellent investment. As the gap between fans and their favourite teams start growing, a project like Chilliz could grow in value even further.
When will Chilliz's price go up?
Chilliz's price may go up in value as the bull market is back again. It may however, have short term growth frequently since several sporting events may be scheduled to happen in the upcoming months.
