Chiliz
Crypto Overview
Overview
Chiliz (CHZ) is the native cryptocurrency of Socios.com, a blockchain-based sports and entertainment platform that enables users to participate in the governance of their favorite sports brands through 'Fan Tokens'. These Fan Tokens give holders voting rights in polls and access to VIP rewards, exclusive promotions, and other fan-related benefits.
Intended Utility
The primary purpose of CHZ is to serve as the exclusive on-platform currency for buying Fan Tokens on the Socios.com platform. Users must first acquire CHZ to participate in Fan Token Offerings (FTOs) and purchase Fan Tokens of various sports teams and organizations.
Actual Utility and Adoption
Chiliz has established partnerships with major sports organizations including FC Barcelona, Paris Saint-Germain, Juventus, and UFC. The platform has demonstrated real-world utility through successful fan engagement initiatives and voting events. As of 2024, Socios.com has over 1.5 million users and has launched over 100 Fan Tokens across different sports.
Token Distribution and Governance
The initial token distribution allocated 34% to the team and advisors, with vesting periods in place to prevent immediate selling. The remaining tokens were distributed through private sale (30%), public sale (20%), and marketing/ecosystem development (16%). The project maintains transparency through regular updates and clear documentation of token utilities.
Technology and Revenue Model
The platform generates revenue through Fan Token sales and trading fees, not through interest-bearing mechanisms. The underlying technology facilitates direct fan engagement and governance without involving prohibited activities under Islamic law.
Crypto Impact
To assign a comfort level investing in Chiliz from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Chiliz.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.