Chiliz is a Layer 1 blockchain, which core is a platform that allows sports enterprises and fans to monetize and incentivize their activities through tokenization.

Chiliz, a fintech provider based in Malta, has developed several products specifically tailored to the sports and entertainment industries, including the Socios.com website, the Socios app, and the Chiliz.net cryptocurrency exchange.

Socios serves as a fan influence and rewards platform that can be accessed via mobile or desktop. Through the use of Fan Tokens, digital assets that can be minted on the Chiliz blockchain, fans can connect with their favorite sports teams or organizations. Fan Tokens have a limited supply, and each team or organization can create a token that is unique to their team or club. For example, the first Fan Token was created for the Italian football team Juventus (JUV), with other football teams like Paris-Saint Germain and FC Barcelona following suit.

Fan Tokens are released via Fan Token Offering (FTO), allowing fans to purchase them at a fixed price before they are made available in the market. The CHZ token is required to purchase Fan Tokens, which can be obtained through the Socios app or available markets.

Fan Tokens allow fans to engage with their teams in a more personalized manner, providing access to features such as voting in polls, accessing VIP rewards and promotions, chat forums, games, and global competitions. For instance, fans can use the tokens to vote in a poll to select merchandise designs or celebration songs.

Chiliz.net is a dedicated exchange that facilitates the buying, selling, and trading of Fan Tokens. Trading pairs with the CHZ token are fee-free for buyers and charged 0.6% for sellers, while other pairs incur a trading fee of 0.2% for both buyers and sellers.

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