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Background
I came across Chiliz recently and wanted to share the information I gathered when conducting my analysis on this particular cryptocurrency. Now before we get started I base my findings on fundamentals more than technical analysis. I believe in the long run for a cryptocurrency to remain it needs to have an intrinsic value.
So here we go :-)
What is Chiliz:
Chiliz is a digital currency that fuels sports and entertainment platforms and is also the official, exclusive cryptocurrency that fuels the Socios.com fan voting platform. Socios.com allows sports and esports fans to crowd-manage their favourite teams, games, leagues and events.
Fan Tokens are a utility ERC20 token that contains the branding of the partnering sports teams. Fan tokens are put up for sale by the team to fans who want a say on specific activities within the club.
In essence it gives fans 'voting rights' in their organisation, this is where what level of voting rights will be to the discretion of the team.
Example one club could give the token holders rights to vote if the manager should be sacked because they have not been performing and another club might give it rights to choose the stadium anthem to be played at home games.
I imagine it will start with the latter but based on adoption I can see scenarios where token holders will have the ability to have a significant input into the club decisions.
How does it work?
The first stage is to buy fan tokens you need to own $CHZ. Therefore you need to buy $CHZ from an Cryptocurrency exchange or using a credit card directly from the fan voting platform.
After you have purchased $CHZ tokens you can go ahead and purchase fan tokens from fan voting platform.
Funds: Chiliz did not have a public sale and raised $65m in private sale.
Total Supply: 8,888,888,888
Current Circulating Supply: 4,782,431,150 (recently updated)
Team:
At the moment Chiliz have around 60 people worldwide employees. I have had a look at the team LinkedIn profile and to be honest I don't tend to believe what everyone writes on their profile as majority of it's fluff, until I have seen 'the fruits of one labour' then it's just words.
Now based on that I look at Alexandre Dreyfus (CEO) - profile and reviewing his profile and with what Chiliz have achieved in a year I would say he is a natural leader as he has started multiple organisations in the past and has been at the forefront of bringing these partnerships into fruition.
Team details can be found here - https://www.chiliz.com/en/our-team/
Competition:
There is no competition at present this is good news for Chiliz as it's allowing them to corner the market, as they have already onboarding top European football clubs to use Chiliz platform. Anybody who joins in the future will be playing catch-up. However, it does not mean another competition could implement the same into a different team sport - NFL, Basketball, Rugby etc.
Partnerships:
This is what initially sparked my interest in Chiliz, being a football fan I started to see this in different places and with them onboarding some big football clubs across Europe. I started to think about the possibilities and how this could be grown to different sports too.
The have also recently partnered with Enjin coin $ENJ
Enjin is leading the way into the NFT space and will be using creating Non-Fungible collectibles on the Enjin platform too.
More details here - https://www.chiliz.com/en/chiliz-and-enjin-to-launch-blockchain-collectibles-for-sports-entertainment/
Where to buy Chiliz $CHZ:
When we look at exchange listings there is only two which matters - Binance and Coinbase.
Why is this?
- We know there is lots of 'funny business' going on with a lot of exchanges with wash trading, fake volume reporting and price manipulation, amongst other things.
- It also shows credibility when a cryptocurrency project is listed on one of above exchanges because it we know the above exchanges have got huge inspirations themselves and don't want to list a 'shady' cryptocurrency which is going to impact them with regulatory compliance.
We can see this from Nomics transparency rating which I tend to use for checking the 'real' volume - https://nomics.com/assets/chz-chiliz/markets
Anyway enough of the background - $CHZ is listed on Binance and the key trading pairs are available - CHZ/BTC, CHZ/USDT, CHZ/BNB.
We can see Binance tends to account for over 90% of the trading volume so it gave be more confidence that I'm not going to get hit with pump/dump groups manipulating the price.
Sorry nearly forgot to add Binance were one of the investors in the private sale of $CHZ.
Market Price
The current value of $CHZ has doubled in the last week and this has been for a few reasons. They are partnered with Enjin coin for NFTs and also onboarded one of the biggest, if not the biggest football club in the world F.C. Barcelona.
They are also bringing out their own exchange will allow you to trade fan tokens, this is more for crypto and traders rather than football fans.
Trading view is also showing excellent buying indicators at the moment too, I'm not a TA expert so I'll just leave you with the below.
Summary:
I do think there is an intrinsic value in what $CHZ are attempting to achieve. They seem to have a strategy which is working as they have a working product, partnerships with other relevant cryptocurrency and top tier football clubs.
I can see a future for $CHZ and the sporting sector is huge. If they can prove themselves in football there is no reason why it cannot go beyond into other sports industries.
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