Chiliz (CHZ) is the native token of Chiliz, a blockchain network that powers the Socios fan engagement app and lets sports fans purchase fan tokens on the Chiliz sports exchange.

By exchanging CHZ for fan tokens, holders can vote on decisions for their favorite teams, gain access to exclusive platforms and can receive rewards from their teams.

The chiliz token (CHZ) is the native cryptocurrency of the Chiliz network allowing users to purchase Fan Tokens on Socios.com. The token initially launched as an Ethereum-based ERC-20 token, but it also began offering Binance Smart Chain BEP-2 versions of the token following a strategic partnership with Binance.

Chiliz has a fixed supply of 8,888,888,888 CHZ, with users able to buy CHZ directly from Socios on the Chiliz exchange. At launch, 34.5% of the total CHZ supply went to participants in Chiliz’s pre-sale and token sale and 7.5% to seed investors; 8% of tokens remained with Chiliz and was distributed to the advisory board (3%) and the Chiliz team (5%).The remaining supply was reserved by Socios for selling to users (20%), marketing operations (15%) and strategic acquisitions (15%).

CHZ reached an all-time high in March 2021 of $0.8915, gaining 60% and earning a $1 billion market cap. The all-time high was part of a larger, 1,000% rally over the course of a month that came from successful partnerships and fan token offerings with sports teams including AC Milan, FC Barcelona and Atletico Madrid. Following the all-time high, Chiliz decided to burn $800,000 in CHZ, or 20% of the total fees netted by the exchange in Q1 2021.

CHZ was at an all-time low of $0.004001 in September 2019, attributed to the pre-launch of the Socios fan platform and lack of fan token offerings at the time.

Chiliz (CHZ) is the open-source blockchain infrastructure that powers the Socios fan engagement platform. Users can purchase CHZ from the Chiliz exchange or other exchanges where the token is available. Once users have CHZ, they can use their tokens to participate in initial fan offerings (IFOs).

The fan token platform operates on its own separate sidechain, or secondary blockchain connected to the Chiliz network. Sports teams can elect to have their own sidechain set up and customize the amount of fan tokens they want to circulate. Teams who choose to offer fan tokens receive revenue from transaction fees on the Chiliz network.

Chiliz was developed by Socios CEO and founder Alexandre Dreyfus in 2018 with the purpose of connecting sports fans with their favorite teams. Soon after its development, Socios raised $66 million in a private placement funding round led by Jump Trading to develop the Chiliz network and Socios platform.

In 2019, Socios launched its platform with a major partnership with Italian soccer team Juventus, letting fans buy JUV tokens in exchange for CHZ. Since then, Socios has partnered with several champions league soccer teams including Paris-Saint Germain, FC Barcelona and Manchester City. FC Barcelona tokens were particularly well received by fans, leading the token to hit a $1.3 million market cap in just under two hours.

Having proven successful in soccer, Socios began exploring other sporting leagues including Formula One and UFC. In March 2021, Socios announced that it planned to spend $50 million to expand Chiliz and Socios fan tokens into U.S. sports. Six months later, Socios partnered with 24 different NBA teams for fan tokens. Despite developing tokens for the National Basketball Association, the team fan tokens have yet to be released due to securities regulations in the U.S.