Chiliz (CHZ) is an interesting digital currency that is getting more and more attention.
At the time of writing, CHZ is trading at the $0.33 range and because a short pullback in the market is expected, CHZ possibly will have a pullback as well. If you look at the chart, CHZ is selling at 65% discount from its ATH, which was at $0.944 at the beginning of March this year.
Chiliz enables sport teams and other organizations to create their fan token that can be used as a mediums of exchange within the community.
Notable partners include large football clubs like FC Barcelona, Paris Saint Germain, and Juventus F.C., which all have issued their fan tokens. These tokens are tradable on the Chiliz Exchange.
I've known about CHZ for quite some time, respected names in the cryptosphere have been saying they are holding CHZ as it has a great future.
If you go to the Chiliz exchange to trade club tokens, you need CHZ. These sport team tokens are not going anywhere, that is clear by now.
The last few days all the media was full of the news that Lionel Messi is leaving his old club and joining the new one. Today came the news that he's going to be paid in Fan Tokens. In case you're wondering what's the magnitude of this business, there's your answer.
Now you may say an exchange token can never be as valuable as a team token. You may be right, or not. If you look at the fan tokens on the Chiliz exchange, you can see some of the tokens are trading at over $100.
I'm not a football fan and only watch sports for my own entertainment, but I suppose the value of the team and the determination of the fans influencing the price. Messi joining Paris Saint-Germain may have pumped the token price a little bit.
For the record, I'm not a team token holder and the chances to become one in the near future are slim to none. It's just not my thing, even though I know the value of it. My pockets are not deep enough for the moment, to get involved in this business.
However, CHZ is a totally different matter. I've bought CHZ when it was trading a little above $0.2 and have sold it for a good profit. Now I'm holding CHZ again and my intention was (at the moment of buying) to trade it, not to hold it long term, but something tells me I should think twice about selling them all.
I remember the big fuss BNB has been through this year. At the beginning of the year BNB was trading at around $40, then reaches its ATH at around $690 or so and it's trading at $377 at the time of writing. It's safe to say that BNB 10x-ed since the beginning of the year.
You can ask anyone if they would like to get their hands on some BNB at around $40. They would say absolutely. CHZ is at an even earlier stage as far as the price is concerned. $0.33 is not even pocket money. You can buy 286 tokens for $100. If it reaches its ATH, you can 3x your investment.
The big question is, what the future of CHZ will look like?