In this week’s Wealth Mastery Altcoin Review, we will learn about and discuss “What is Chiliz.”
- What is Chiliz?
- What is the Future of Chiliz?
- What is CHZ Altcoin?
- How do you Buy Chiliz?
- Is Chiliz a Good Investment?
What is Chiliz?
Created in 2008, Chiliz is a Web3 gaming and professional sports platform developed using blockchain technology that allows users to buy and trade their favorite team-branded fan tokens and NFTs. While the project started its roots in Fútbol branded team assets, it’s since diversified into Basketball, MMA, and eSports to have more than 80 team-branded assets available to trade.
The Chiliz platform collaborates with Socios, a fan engagement and rewards app that lets users engage with their favorite Fútbol clubs and branded teams. Unfortunately, trading on Chiliz is not supported in regions with regulatory restrictions.
Chiliz began as a Proof of Authority blockchain and, after much debate, decided to upgrade the network to an Ethereum-based Proof of Stake network when designing the rollout of Chiliz 2.0. With the mission of bringing fans, teams, and athletes together under an all-encompassing network, Chiliz believes that PoS will help build the future for a dedicated Web3 sports network. Chiliz has over 300 employees across nine worldwide offices designing this loyalty-based network. A massive undertaking of human capital is definitely at work with Chiliz. As expected for a protocol looking to develop a global network of fans and teams.
Chiliz is headquartered in Malta and has undertaken this endeavor with the full support of the Maltese Government as the registered virtual currency exchange service Socios Entertainment. Chiliz has made it a point to seek legal means of operation since its inception. This is because Chiliz comes equipped with experienced members of its staff who’ve worked for Facebook, Google, and Playtech in the regulated gaming and sports sector. The idea is simple, build a platform that gives fans a place to purchase a currency that directly supports their favorite team, while also developing a place for teams and athletes to design events and games built around their fanbase. This allowed the founders to raise $66 Million to fund the creation of Chiliz.
With Esports on track to become a $3 Billion dollar industry by 2025 and a global audience of over 600 Million viewers, you can see why the need for a platform like Chiliz exists. Unsurprisingly, Esports has been rocketing itself into the mainstream over the past decade. In 2019, when Chiliz began, for the first time, the League of Legends Championship Tournament saw more viewers than the Super Bowl.
But if we’re going to discuss the real meat and potatoes of Chiliz, we have to recognize the only thing that matters in (almost) every part of the world is Fútbol. When we compare the over 400 Million people who watch all other sports combined, it doesn’t even come close to the 1 Billion viewers who watched the World Cup games this year, half of that viewership being just for the finale. No one needs to tell you how important Fútbol is if you live outside the US. For everyone else, you need to understand the massive market Chiliz has chosen to tap into. While the NFL, NBA, and MLB all rack in higher revenue…
Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin.
As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom.
“The swarm is headed towards us” -Satoshi Nakamoto
