I think we can all agree that worldwide adoption of crypto will not take place spontaneously. As soon as new use cases emerge a new market cycle begins driven by aggressive marketing and even more mainstream adoption.
And when it comes to mainstream adoption, Chiliz is probably the leading project in the whole industry as it is endorsed by some of the biggest sports organizations ranging from the NBA to professional Soccer and Racing teams worldwide.
The Chiliz blockchain launched in 2019 and got listed on Binance after the presale was completed. It took a long time for people to realize what the project actually aims at but as soon as some big announcements started rolling out those that recognized the opportunity started paying attention.
Chiliz proceeded to launch Socios.com, a user-friendly app and platform that lets users invest in new tokens via presales and manage their funds on the Chiliz chain. Almost all presales ended up bringing big profits to investors as all tokens are launched at a fixed price of about $2, depending on the country the club or team is from.
So far the most expensive one is the Paris Saint Germain token that is trading at $33 at the time of writing. To see the full list of tokens launched on the Chiliz chain simply visit Fan Market Cap. Some big names that I would like to point out:
- FC Barcelona
- PSG
- Juventus
- Man. City
- Arsenal
- AS Roma
- National Teams of Argentina and Portugal
- Philadelphia 76ers
- Boston Celtics
- UFC
$CHZ
The whole structure of this project is designed as a business and the company is the entity making decisions and bringing in new partners. The Chiliz token is a medium of exchange within the Chiliz ecosystem and it is used to purchase tokens at presales. It is also the native currency of the chain so if any new Dapps get deployed on it transaction fees will be paid in $CHZ.
Summary:
Long-Term Potential
If you look at what they are aiming for and where they are at now you can see that the project is really just getting started. The more teams they bring in the more attention gets shifted towards Chiliz. It is important to mention that they have a first-mover advantage as well and no competition in sight.
If the Chiliz chain does become a vibrant ecosystem that offers a user-friendly interface, they will certainly have a lot of people waiting in line to be onboarded. Many teams are already wearing their Chiliz token symbol on their jerseys so token exposure isn't really an issue. The only factor here is time.
The main goal is to bridge the gap between professional teams and their fans. For now, you can only vote on certain polls and participate in giveaways with your tokens but once NFTs get introduced I can imagine a whole lot of new use-cases.
The Good
Chiliz definitely has a ton of good aspects. Some of the biggest names in sports are already on board and you can imagine how hard it can be to convince FC Barcelona and others to venture into crypto. Keep in mind that most of the work got done during the bear market. The Socios app is great and intuitive for both beginners and experts. Many projects could take notes from the UX design.
The Bad
The bad part would be the deadlines that constantly get broken and moved around. When a token is listed for presale you can see the date when it should be listed but it is almost never accurate. Sometimes the token will get listed after a few days and sometimes it will take months.
The Ugly
KYC and App crashes during presales would be the ugly part. KYC is mandatory if you want to trade your funds and cash them out. The process is also very slow and may take multiple attempts to get verified. App crashes are to be expected almost every time a presale starts. A lot of people already realized that these presales can be turned into easy profits so outages are kinda expected.
Jerry Rating 9/10
If you don't mind investing in centralized entities with very high upside potential, it doesn't get better than Chiliz.
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