The synergistic union between the sports industry ($388 billion in 2020) and digital assets ($1 billion in 2019) is not going unnoticed. Chiliz is making its way between blockchain and sports competitions; but how is it connecting these two universes that are so seemingly disconnected?
Typically, fans watch the games, support the players, but do not influence the decisions of the team they love, except indirectly. The sports environment, and eSport, offers them a passive view, despite fans being the driving force behind the business.
Chiliz wants to change the paradigm. The project is based on a currency with which to purchase "Fan Tokens": digital assets with the names of participating clubs, designed to be used within the Socios.com Platform. With Fan Tokens you can participate in decision-making processes and surveys about teams, generating a bridge between supporters and sports clubs built on the concept of fan feedback and inclusion.
The desire to "activate" fans as influencers is a concept already espoused by Formula E with the direct involvement of spectators through FanBoost, or in Formula 1 with the "Fan Voice".
The sports landscape will no longer be driven by the teams and leagues that attract the highest audience, but by those who can activate and monetize that audience most effectively by putting their fans in the driver's seat.
Involvement is the new frontier of sports competitions. Any league, any team and any game, has this opportunity thanks to Chiliz.
The vision of the project is to transform the more than 2.2 billion gamers, 380 million eSports fans and the community of billions of sports fans from mere spectators to team-connected influencers.
The global sports market continues to grow year after year, and the eSports market is expected to experience 32% annual growth over the next 3 years.
Chiliz, as of April 26, has a market capitalization of approximately 2 billion euros and a price that is around 40 cents per unit; performance over the past 90 days is 1,173.83% with a slight decline recorded in the last period.
Will the innovativeness of the project make it grow further?
Written by Lorenzo Bianco of the VGen Finance Hub
