A new cryptocurrency is in town and this one is based on sports; football to be specific. The coin is called Chiliz and aims to provide fans of both traditional sports and online sports the power to crowd-manage their best teams, leagues, events, games and what have you. Chiliz can best be described as a digital token and was designed solely for football enthusiast to use for engagement.
The coin was designed by Socios and since its launch, the coin has received enviable acceptance and has surged past 75 percent since its launch.
The coin surging past 75 percent is not the only notable thing about it. The football-based blockchain already has market value of about $1.3 billion. As at yesterday, the cryptocurrency traded at $0.233853 with figure for daily trading volume of $4 billion. The coin has found its way into the list of the most valuable cryptocurrencies and stands at the 65th position.
The main purpose of creating Chiliz, a cryptocurrency based on sports was to allow fans to purchase tokens and support their favorite teams using cryptocurrency which is the order of the day. Blockchain has the capacity to facilitate and curate new experiences for football fans and sports lovers in general, this is what Chiliz is trying to achieve- new experience for sports lovers.
Currently, the new cryptocurrency Chiliz can be traded on crypto exchange platforms such as HBTC, Huobi Global, Binance, Xtheta Global and OKEx and hopes to be available on other cryptocurrency platforms.
The fast-racing cryptocurrency is not taking any break as it is already working on a partnership with Formula One. Chiliz hopes to extend to other sports and eventually dominate the sports industry.
With this move by Chiliz, many clubs are expected to launch their own sport tokens or cryptocurrency and we should start seeing and hearing about them soon enough.
Football is the most followed and loved sport on the planet. Imagine how explosive it’ll be when integrated with cryptocurrency.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
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