What Is Chiliz?
Chiliz is a blockchain platform developed by the Maltese sports company Mediarex. The platform powers Socios.com, a site that creates a unique engagement opportunity for sports fans through fan tokens. These fan tokens can be purchased using Chiliz’s native token and allow fans to participate in club polls, receive rewards, and access promotions.
Background
Chiliz was launched in 2018 by Mediarex under the leadership of CEO Alexandre Dreyfus. The advisory panel for the firm includes notable figures from the sports and business industries. In June 2018, Chiliz raised $65 million in a round led by Binance, with participation from other key players in the industry. In March 2021, the company announced its plans to invest $50 million in expanding to the United States.
How It Works
Fan tokens are digital coins created on the Chiliz blockchain and distributed to sports fans via Socios.com. These tokens allow fans to vote on minor decisions related to their favorite clubs, including new facilities, kit designs, and more. Fan tokens were first introduced in 2019 by football clubs Juventus and Paris Saint-Germain. Since then, numerous other sports clubs have launched fan tokens through Socios.com.
Key Takeaways
- Chiliz is a blockchain platform developed by Mediarex, used to power Socios.com, a site that facilitates engagement between sports fans through fan tokens.
- The platform was launched in 2018 by CEO Alexandre Dreyfus, and the company has an advisory panel consisting of figures from the sports and business industries.
- Chiliz raised $65 million in a funding round in June 2018, with Binance leading and other key industry players participating. In March 2021, Chiliz announced plans to invest $50 million in U.S. expansion.
- Fan tokens are digital coins created on the Chiliz blockchain, allowing fans to vote on minor decisions about their favorite sports clubs.
- Fan tokens were first introduced in 2019 by football clubs Juventus and Paris Saint-Germain and have since been adopted by numerous other sports clubs.
