Chiliz has been making waves by becoming the biggest blockchain fintech provider to the realms of entertainment and sports. The platform’s rise over the last few years has been impressive.
This is Part 2 of a two-part article series about Chiliz. In Part 1, we examined use cases for $CHZ, along with how to stake it. Today, we look at what Chiliz is doing for sports fan communities. Next, we dive into their most unique offering – fan tokens.
How Is Chiliz Improving Fan Communities in Sports?
Before we begin, let’s do a quick recap of what Chiliz hopes to achieve. In a nutshell, Chiliz hopes to grow the fan club tokenization space. To do so, they’ve got to partner with some sports clubs. And that’s what they’ve done exactly. With that, below are some examples of tokens they issue to sports fans like you and me:
- Soccer club tokens. Examples include the Manchester City and PSG tokens.
- Fighting club tokens. One example is the Professional Fighters League token.
- Racing team tokens. One example is the Alfa Romeo token.
- Gaming club tokens. Examples include the OG and NaVi tokens.
By accessing their unique centralized exchange (ChilizX), you can buy, sell, or swap said tokens. You can also choose to do the same via the Socios app.
Moreover, Chiliz continues to list new fan tokens regularly. So, you’ll always be spoiled for choices when choosing a club to support!
𝐅𝐓𝐎® 𝐒𝐞𝐚𝐬𝐨𝐧 🤩@Socios has introduced FTO® Season! The Fan Token Offerings of $VASCO, $MIBR, $FLU, $PERSIB & $BUFC have already taken place.
But keep your eyes on the Socios app, there are way more FTO's coming up! 👏https://t.co/qPDFBH5Vwx
— Chiliz ($CHZ) – Powering Socios.com ⚡ (@Chiliz) September 30, 2022
With these fan tokens, how does Chiliz help to improve sports fan communities?
- Firstly, fan tokens allow their supporters to make minor decisions for the club. These include team T-shirt designs, team entrance songs, and so forth. Recently, Inter Milan even allowed fan token holders to pick their starting 11 players!
🤯 Craziest poll to date.$INTER Fan Token holders will pick the team for the @SerieA match vs @juventusfc.
👉 Vote: https://t.co/SUz4U0B2fh https://t.co/4Mqu9oqBXl
— Socios.com (@socios) April 1, 2022
- Next, fan tokens provide special privileges to their holders. These include special match ticket discounts and other exclusive offers.
- Also, fan tokens serve as rewards for Socios app users. They’ve got a “Token Hunt” feature to reward their users with fan tokens. You can try it out for free here!
- Lastly, fan tokens instill a sense of belonging for fans. It’s like buying a jersey of your favorite NBA team. Instead, your sense of belonging shows in the online crypto space!
What Is a Fan Token?
Simply put, a fan token is just like any other crypto. What makes them different are the above benefits they provide to their holders.
Now, you may be thinking: “Isn’t a fan token just like an NFT?”
Well, you’re pretty much right. NFTs provide their owners special privileges too! But, fan tokens are “fungible” as they can be replaced with another token. Also, you can have a large amount of the same fan token, not just one.
In addition, fan tokens have a fluctuating price too! This is similar to other cryptos or NFTs. So, this makes fan tokens a potential risky investment. To check out some of their prices, you can visit Coingecko’s fan token page. Similar to cryptos like $BTC or $ETH, they’ve got data on fan tokens as well.
How Do You Buy $CHZ?
Ok, you’ve reached the last section of our two-part article series. One, you’re a crypto investor and you understand the crypto space. Two, you’re a sports fan as well. Three, your favorite team has a fan token on Chiliz. If all the above three points apply to you, then I’m sure you’d like to get your hands on some $CHZ tokens, right? If so, read on!
To buy some $CHZ tokens, we recommend you to use a centralized exchange (CEX). You can find a list of CEXes trading $CHZ here. In this list, we prefer Binance the most as it has:
- The highest volume traded at 17%.
- A green trust score.
- A low spread of 0.07%.
With the above, you can rest assured you’ll be getting a fair price for your $CHZ.
Next, follow the steps below:
- Log in to your Binance account. Fund it with some $USDT. You’ll be using it to buy your $CHZ tokens.
- Then, head on over to Binance’s spot trading page. Here, you can set orders to buy your $CHZ with available $USDT.
- Voila! You’re now a proud owner of $CHZ tokens! Click on your spot balance to ensure that your tokens are in your exchange wallet.
To keep your $CHZ tokens safe, we would advise to withdraw them into a non-custodial wallet. For $CHZ, Trust Wallet would be a top preference for us.
That concludes this two-part article series for Chiliz! If you’ve been with us throughout, you now have a solid understanding of the project and the value it hopes to bring. If you’d like to stay abreast on their developments, you can follow their Twitter account here. Indeed, World Cup fever is over, but Chiliz isn’t slowing down just yet!
⬆️ For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
⬆️ Our popular Altcoin Buzz Access group generates tons of alpha for our subscribers. And for a limited time, it’s Free. Click the link and join the conversation today.