Chilliz Use Cases, Differentiators, and Competitors
What are the Chilliz Use Cases, Differentiators, and competitors? Read on
Chilliz is one of the most innovative projects which is gradually getting attention. Chiliz was founded by Alexandre Dreyfus. He is also the founder of Webcity, an interactive travel guide, and Winamax and Chilipoker, online poker projects.
For sports enthusiasts and for the ones who want to share their opinion with their favorite teams, Chilliz is the platform that facilitates such services.
What are the Chiliz Use Cases?
Launched in 2018, Chiliz was born with the thought that blockchain technology could be used by sports fans around the world to engage with their favorite team. Similarly, the teams could use this cryptocurrency to monetize their global fanbase.
With the help of Chiliz, fans can be as close as they can get to their team. They can participate in surveys and polls and help the team decide.
However, to keep fans in check, the Clubs have a pre-decided significance that will be placed on the influence the fans can have.
Chilliz Use Cases
Chiliz has positioned itself as a blockchain fintech provider for sports and entertainment. With the help of Chiliz, one can keep track of day-to-day fan engagement in entertainment and different options alternative payment solutions for conventional products, and more.
The primary use of Chiliz is to allow sports fans to buy fan tokens on the Chiliz Exchange or the Socios platform. Therefore, to facilitate this, Chiliz has partnered with well-known sports teams and brands.
Chiliz has its own exchange known as Chiliz exchange which is an exchange for only tokenized sports and entertainment.
Chiliz has partnered with many clubs which have their own tokens. Some of those clubs are AC Milan, Juventus, AS Roma, Paris Saint-Germain and FC Barcelona.
Chiliz is the official partner of sports teams and organizations like FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, Galatasaray, Atlético de Madrid, OG, CAI & UFC.
How is Chiliz different from Others?
With multiple cryptos being created every day and a number of blockchain platforms coming into existence, every platform is working to focus on one feature to differentiate it from others.
Chiliz has positioned itself as a blockchain fintech provider for sports and entertainment. Chiliz’s blockchain-based sports entertainment platform, Socios helps users to participate in the governance of their favorite sports brands.
With the help of Chiliz, one can keep track of day-to-day fan engagement in entertainment and different options alternative payment solutions for conventional products, and more.
Socios.com, the user engagement platform of Chiliz acts as a bridge between fans and their sports team. Users can influence their team’s decision via popular vote using the tokens purchased on the Chiliz exchange.
The developers of Chiliz have come up with Chiliz exchange which is a leading tokenized sports and entertainment exchange.
Apart from this, Chilliz has a strong team working on its development. Chiliz developed the Socios.com sports fan engagement platform which is built on the Chiliz blockchain infrastructure & uses $CHZ as it’s exclusive on-platform currency.
Chilliz helps clubs achieve engagement with their fans. Every vote costs 1 $CHZ. Clubs on the Socios app make an FTO (Fan Token Offering), where they sell 10 million tokens. The money is then split between the club, the streamer, and the influencers.
Who are the Competitors of Chiliz?
Chiliz has a very unique feature to offer the users. Due to its uniqueness, there are currently no direct competitors to Chiliz in its field which is the tokenization of esports-related management of voting rights.
However, some developments are going on to compete with Chiliz in its filed. Few of such developments are:
Enjin: Enjin is termed the No. 1 rival of Chiliz. Enjin allows entrepreneurs to conceive gaming, art, music and sports-based NFT projects with the functionality to create custom coins without any coding.
Sorare: Sorare is working on designing a platform that helps football fans connect with their favorite football players. Sorare will also be using the blockchain to offer this service.