Chiliz is a cryptocurrency project aimed to revolutionize the world of sports and eSports. It aims to open up a way for fans (team fans, league fans and so on) to contribute in the overall growth and decision of their teams. It aims to give sports & esports fans a currency to buy direct voting power to vote, which eventually creates a crowd management platform for team, events, games, and others in a way that has never happened before. Chiliz inspiration comes from Socios teams controls models, that is used by Real Madrid & FC Barcelona.
The Market
The eSports and video games market is very big. Believe it or not, they're bigger than the film + music industry combined. According to Chiliz whitepaper, they have $108.9B market value in 2017 and is expected to grow to $128.5B in 2020. On the other hand, the sports industry is way bigger than that. Traditional sports has a value of $620B in early 2011 with net revenues reach $90B in 2017. That's a big number, and that only happens because there is a lot of people who're interested and love to enjoy the sports & esports industry.
Sale Progress & Backers
Chiliz has several key people who backed their projects. Below are some of the key figures:
- Ceyuan Ventures (Feng Bo) H&S Financial Group
- Dr. Stanley Choi, Investor and IPO Specialist (Hong Kong)
- Xavier Niel, French Telecommunications Tycoon (France)
- Donald Tang, Hedge Fund Manager (Hong Kong)
Chiliz funding already completed in 2nd half of 2018. Right now they already built the token in ERC20 standard, with CHZ as the symbol. According to their whitepaper, it has at least $66 million as a result of the private token sale. That's definitely a big amount of money, and hopefully, this achievement reflects the success of Chiliz in the near future.
Overview of the Socios platform where Chiliz takes place
The Problems
As what we've discussed above, Chiliz aims to revolutionize how the management of a team/league/other happens in sports & esports industry. At this moment, fans have a very limited role. They can only watch, without any ability to help make decisions or influence the organizations they love. There are several reasons this is happening, such as:
- Fans are not treated as the team/league/other shareholders. They are defined only as a consumer who accept a product and pay for it.
- The ownership and influence on some people within a team/league are way too great because there is no limit on how many people can have the team/league/ other shares. It is very worrying, especially if the most influential people only care for their own profits, without really caring for team success.
- There is no platform or a way that is globally viable, transparent and easy to use for fans to get involved in team/league management. Without this framework, it is nearly impossible for them to vote and help their loved team to choose the best decision for them, even though as a fan, they will always want their team to succeed, get a trophy, win every game that they have to play.
Chiliz Solutions
Chiliz will become the fuel to empower fans participation in the new crowd management system across many teams on Scios. They'll open up a platform where fans can get a direct Vote in their favorite sports organizations, connect and help fund new sports and esports entities. Fans, on the other hand, can sell their voting tokens for other users and monetize it. Every team will have their own fans tokens that will be created upon request which requires Chiliz tokens to be collateralized.
Some kind of decisions that fans can influence on Chiliz & Socios
To put it simply, in order to vote you'll need fan token that. However, if you decided to sell it there will be a platform for you to sell or buy fan tokens. This marketplace will be useful especially for users who can't participate in the initial fan token offerings due to various reasons, and it will also be beneficial especially for users who decided to support other team and sell their voting tokens to other fans. This is the revolution.
Bottom Line
If you're a true fan, you'll help your team to succeed. One of them is to participate in their management by giving your opinions or vote what the best decision that you think they should do. Chiliz & Socios will help you to do that. This is where your journey to become active and contributive fans started. And hopefully, it will do very well.
For the last part, view some videos about Chiliz below.