ChiliZ: FinTech Union of Cryptocurrency Utility and Sports Enthusiasm
This article was written exclusively for Investing.com
- Sport and its fans are a large addressable market
- Tokens use an Ethereum-based ChiliZ chain
- Foreground token
- Respectable return since mid-2019
- Invest only available capital
FinTech, or financial technology, is the revolutionary and innovative development that challenges the status quo. Fintech competes with traditional financial methods and services to deliver faster and more efficient results. Blockchain is the backbone of fintech. Tokens or crypto-currencies are the means of exchange that aim to replace, or at least supplement, traditional fiat currencies.
With fintech developing in leaps and bounds, the ramifications for many activities where traditional finance had a monopoly are growing. Specialty tokens have served the needs of a myriad of markets over the past few years. In the world of sports, (CHZ) is the token of a platform that innovates for sports fans.
Sport and fans are a large addressable market
Football, baseball, soccer, basketball, hockey, tennis, golf, and many other spectacle sports are massive activity in the United States and around the world. In 2021, the total value of the world sports market amounted to approximately $ 440.77 billion and is expected to reach $ 599.9 billion by 2025. North America is the primary market in the global sports arena, which includes participation and spectator sports .
Sport, with its exercise and entertainment components, is a growing addressable market for people around the world. In early 2022, the Beijing Winter Olympics will draw thousands of spectators who want their country to win gold, silver or bronze in a plethora of events. The Football Superbowl, the Basketball Championship, the World Series of Baseball, the Stanley Cup of Hockey, the World Cup of Football are all the peaks of success. Millions of people dream of playing for titles, but only a few talented athletes actually succeed.
Tokens use an Ethereum-based ChiliZ chain
ChiliZ (CHZ) is the digital monetary response to the world of sport. CHZ is a sports and entertainment cryptocurrency used by fans of the world’s top sports teams to purchase Fan Tokens on the Fan Engagement and Rewards app. Socios.com. CHZ also trades on the Coinbase and Binance cryptocurrency exchanges.
ChiliZ’s website indicates that the CHZ token is:
“an ERC20 utility token on the blockchain that serves as digital currency for the ChiliZ platform and Socios.com. “
CHZ is a “Fan Token”Offering benefits for fans as well as engagement opportunities for teams and clubs.
As of December 16, 15,615 tokens made up the entire cryptocurrency asset class. CHZ was in 73rd place, in the top 0.50% of the asset class. At 29.43 cents per token, CHZ had a market cap of $ 1.76 billion, or more than 0.76% of the asset class’s $ 2.136 billion value.
CHZ has a supply of approximately 5.955 billion tokens. On December 14, approximately $ 218 million in CHZ tokens changed hands over a twenty-four hour period.
Respectable return since mid-2019
As CHZ captures the attention of sports fans around the world, it has plenty of room to develop. Price action has been mostly bullish. Tokens have hit higher lows and highs since their appearance on the crypto scene in July 2019.
The chart shows that CHZ tokens opened at 1.6 cents in July 2019. They peaked at 77.39 cents on April 15, 2021, the day after Coinbase Global (NASDAQ 🙂 was listed on the NASDAQ. . Tokens have declined along with the rest of the major cryptocurrencies over the past few months and were at 27.25 cents on December 14, nearly a third of the highest level, but still an impressive comeback since July 2019.
Invest only available capital
CHZ is the primary cryptocurrency for sports enthusiasts. With plenty of room for growth in the global sports market, CHZ’s leadership role places it in an ideal position to attract a lot of interest in the years to come.
However, as with all cryptos, only invest the capital that you are prepared to lose. With incredible returns comes high risk, as risk is always a function of potential rewards.
CHZ is an exciting concept that could spark growing interest in the burgeoning asset class from fans and teams alike. CHZ’s market capitalization makes the token a candidate for traders and investors, as it has the critical mass to support tighter bid and buy spreads, making it more liquid than 99.5% other tokens floating in cyberspace. Investing in CHZ embodies the spirit of the sport – it offers the opportunity to experience the thrill of victory as well as the potential for the agony of defeat.