How does Chiliz work?

Chiliz is a blockchain-based platform that allows users to purchase, trade, and manage digital assets related to sports and entertainment.

The platform is powered by the Chiliz token (CHZ), an Ethereum-based cryptocurrency. The Chiliz platform enables users to purchase digital assets such as fan tokens, which are used to represent a fan’s loyalty and support for their favorite teams or athletes. These fan tokens can be used to access exclusive content, discounts, rewards, and other benefits.

They can also be traded on the Chiliz exchange for other digital assets or fiat currencies. The Chiliz platform also provides a range of services for sports teams and organizations. These include fan engagement tools such as polls and surveys, as well as the ability to create custom tokens for specific events or campaigns.

Teams can also use the platform to launch their own Initial Fan Offerings (IFOs), which allow fans to invest in their team’s success by purchasing fan tokens directly from the team itself. In addition, Chiliz has partnered with several major sports organizations such as Juventus Football Club, Paris Saint-Germain Football Club, Atlético de Madrid Football Club, UFC, and more. These partnerships allow fans of these teams to purchase official fan tokens directly from the team’s website or through the Chiliz exchange.

The proceeds from these sales are then used by the teams to fund various initiatives such as youth development programs or stadium renovations.