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By CNBCTV18.com Aug 9, 2022 9:40:57 AM IST (Published)
Chiliz is a blockchain network that was launched in late 2016. Sporting organisations can partner with the Chiliz network to create customised fan tokens for their teams. These fan tokens are listed on Socios, a fan engagement and rewards app built on the Chiliz network. Fans from across the world can then purchase these tokens using CHZ, the native cryptocurrency of the Chiliz network.
Fan tokens have become immensely popular over the last couple of years. They allow sports fans to interact and have unique experiences with their favourite teams. They also allow sports clubs to monetise their fan base, offering an additional revenue stream besides ticket sales and merchandise.
Today, several top sporting organisations such as Barcelona FC, Manchester City FC, the Golden State Warriors NBA team, Aston Martin Cognizant Formula1 team, and many others have a fan token to their name. And all of these tokens are powered by the Chiliz blockchain.
What is Chiliz?
Chiliz is a blockchain network that was launched in late 2016. Sporting organisations can partner with the Chiliz network to create customised fan tokens for their teams. These fan tokens are listed on Socios, a fan engagement and rewards app built on the Chiliz network. Fans from across the world can then purchase these tokens using CHZ, the native cryptocurrency of the Chiliz network.