Chiliz (CHZ) – All you need to know

What is Chiliz?

Chiliz lets you show support for your favourite sports team with cryptocurrency. CHZ is the coin that powers Socios.com, a fan engagement app where you can use tokens to unlock rewards from your favourite team.

Although it can be traded like any other cryptocurrency, the main value lies on Socios.com. There you can spend Chiliz on specific team tokens – like $FCB, $JUV, or $PSG – to unlock unique benefits, including behind-the-scenes access and voting rights.

Ever since Socios.com’s launch at the end of 2019, Chiliz has been on a recruitment drive, signing partnerships with e-sports teams and the UFC, along with top football teams around Europe.

How does Chiliz work?

Chiliz gives sports teams a platform to sell their own cryptocurrency tokens to fans. Every time a new team joins Chiliz, it releases a fixed amount of its own tokens which can be bought and sold with CHZ. $FCB, for example, is the official token of FC Barcelona, and buying one of their tokens means you can vote in polls run by Barcelona or enter competitions to meet its star players.

Chiliz runs its own cryptocurrency exchange, powered by the CHZ token. Every team that has partnered with Chiliz has a token that is available to buy with CHZ on the Chiliz exchange at Socios.com. Each of these fan tokens works in much the same way as a regular cryptocurrency, it can be bought and sold, and its price is decided by the market.


Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >