What is Chiliz?
If you are also interested in cryptocurrencies and sports, you must have heard the name Chiliz. After all, he even became the main sponsor of a big team like Inter. But hearing his name is not enough to understand a cryptocurrency project. That’s why today we will take a closer look at the Chiliz project with you.
Chiliz, known in the sports world in general, is a service token created on Socios.com to enable and increase interaction between fans and clubs. Thanks to this project, fans not only support their clubs by purchasing digital assets specially produced for sports clubs, but also have the right to have a say in the decisions made by the clubs and to obtain various opportunities. Developed by Alexandre Dreyfus and his team in February 2018, the initial supply of this project was completed on 30 June 2018.
How Does Chiliz Work?
Running on the Ethereum blockchain, this project has a digital asset generated as a smart contract. We can say that Chiliz is a digital currency used to buy fan tokens and you can use it mostly on Socios.com. To get the fan token of your favorite team, you must first have Chiliz and then you can get the fan token you want on Socios.com. Chiliz not only allows you to have a say in the club after purchasing the fan tokens, but also offers the opportunity to purchase the licensed products of sports clubs with these fan tokens.
What is Fan Token?
Fan tokens are digital assets that can be used for purchasing club products and VIP experiences. Chiliz started a trend as the first and most notable fan token, followed by many fan tokens such as Galatasaray Fan Token, Juventus Fan Token, PSG Fan Token.
How Does Fan Token Work?
Fans can trade their purchased fan tokens like other cryptocurrencies. The price of fan tokens is determined by the supply-demand balance, and there may be changes in prices according to market movements and the current popularity of the token. These tokens do not offer a solution to any financial or technical problem. They are purely entertainment and reward-based tokens. There are more than 40 fan tokens in total that you can buy with Chiliz. These fan tokens include fan tokens of combat sports such as UFC and motor sports, as well as football clubs. Football club fan tokens include a wide range of products from Galatasaray to Göztepe, from Manchester City to Flamengo.
Is Chiliz Mining Done?
It is not possible to mine with Chiliz coin, Chiliz cryptocurrencies are offered by the company and its total supply is 8 billion 888 million 888 thousand 888. The circulating supply corresponds to approximately 68% of the total supply.
Chiliz Price Forecast
Chiliz coin is seen as a promising project due to the space it creates in the cryptocurrency market. Therefore, it is believed that Chiliz may record new ATH levels in the future. According to the estimates of some experts, Chiliz is expected to be at the level of $ 0.50 by the end of 2022, while it is thought to be at the level of $ 0.65 in 2023. The highest price Chiliz has ever seen was 77 cents on April 16, 2021. The lowest price seen by the coin was seen on July 3, 2019 with $ 0.012. Currently, the coin, which has increased by 8% according to the last 24-hour data, continues its price activity around 20 cents. In case of a possible decline for Chiliz, the first support point we should follow is 19 cents, followed by 17 and 14 cents. If we take a look at the resistance points that we will encounter if the rise of Chiliz continues, we can say that the levels of 21 cents will be followed first, followed by the levels of 24 cents and then 27 cents as resistance.
