How to Utilize Chiliz: Your Guide to the CHZ Token and Socios Platform

Chiliz (CHZ) is a sports and e-sports resource driven by the company behind the Socios platform and the CHZ token. CHZ operates as an ERC-20 token on the Ethereum-based Chiliz blockchain, serving as the currency that enables users to purchase branded NFTs in the Chiliz Socios fan token market.
Without Socios, there would be no CHZ token. The Socios platform allows fans to purchase branded NFTs, connecting them with their favorite teams and celebrities. CHZ serves as the currency facilitating the acquisition of these branded NFTs in the Socios fan token market and is the only accepted currency in the NFT market on Socios.


Socios provides a comprehensive ecosystem offering all the necessary features for fan tokens. The website and mobile applications enable users to purchase NFTs, win them in contests, trade with other users, and exchange them for team-branded perks and products. The platform currently offers branded NFTs for over twenty sports and e-sports teams, with plans to expand this number further.

Chiliz operates by allowing fan tokens to be more than just collectibles. These team-branded NFTs enable fans to have interactive relationships with their teams and influence team decisions. Token holders can express themselves by participating in surveys conducted by teams turned Socios partners.


For instance, Juventus FC allowed token holders to choose the celebratory song played when the team scores a goal. Over eight years, Juventus celebrated goals with a song called "Chelsea Dagger." Token holders chose Blur's "Song 2," prompting the team to make this change.

Fans of FC Barcelona selected a mural to be hung in the team's locker room. Paris Saint-Germain fans chose a message to be written on the captain's armband during matches. The OG e-sports team allowed fans to choose an in-game poster for a charity event. Team Heretics, an esports team in Spain, lets fans choose a branded scarf design for players to wear during tournaments and sell fan merchandise.

If you own a team-branded NFT used in a poll, you have a voting right. The more NFTs you have, the more voting rights you possess, increasing your influence on decision-making. This incentivizes users to acquire and trade more NFTs.

Teams and celebrities can offer additional perks to token holders, such as premium seats at events, meet-and-greet opportunities, team-branded products, gamification programs, and scoreboards. As fans acquire more than just team-branded NFTs, they gain more advantages and establish a closer relationship with their teams.

NFTs in fan token offerings are distributed by Socios partners, stored on the Socios Proof of Authority sidechain. The prices of fan tokens fluctuate based on the popularity of the team and the balance of supply and demand.

How to Use Chiliz?

There are two main ways to use the Chiliz platform: through Socios and CHZ.
Firstly, users can participate in the Socios fan token economy. Visit the Socios market, purchase fan tokens for your favorite team, and engage with them. Getting started is easy, and you can even earn tokens by acting as an intermediary between Socios and potential new team partnerships.

The second option is to buy CHZ as an investment. Chiliz's business model has proven to be resilient against market fluctuations, making CHZ attractive to investors looking to minimize the volatility associated with major cryptocurrencies.

How to Choose a Chiliz Wallet?
CHZ is compatible with ERC-20 and BEP-20 standards, allowing users to use any Ethereum-compatible wallet to access and transact CHZ funds.
Chiliz comes with an integrated wallet on chiliz.net, where most people buy and store their CHZ tokens. It's designed to be user-friendly and accessible to sports enthusiasts rather than crypto experts.

However, users are free to store CHZ in their preferred wallets. Web wallets are free, easy to use, and accessible from both mobile devices and desktops. While convenient, web wallets, known as "hot wallets," may be slightly less secure than other alternatives. If opting for a web wallet, ensure you work with a vendor with a good track record in security and auditing.
Hardware wallets provide an additional layer of security. Solutions like Ledger, Trezor, KeepKey, and Prokey are not free but prevent hackers from automatically accessing your crypto funds even if they gain access to your computer or smartphone.

Kriptomat offers a free, secure storage solution for easily holding and trading CHZ tokens. Combining enterprise-level security with user-friendly features, Kriptomat is designed to cater to both security and convenience.

In conclusion, Chiliz creates a unique ecosystem allowing fans to interact with sports and e-sports teams through branded tokens. The company brings together the Socios platform and token market with an Ethereum-based token and dozens of branded fan tokens.

The CHZ token has two primary use cases. Some users buy CHZ to support their favorite teams on Socios by acquiring fan tokens. Others use it as an attractive investment alternative or addition to building a balanced crypto investment portfolio. Chiliz offers a bridge to the crypto world through the CHZ token, fostering interactive relationships between fans and their teams.

Chiliz Legacy Chain

Chiliz Legacy Chain, previously known as Chiliz Chain 1.0, is a Proof of Authority (PoA) blockchain and the birthplace of the Fan Token. The Fan Token, a digital asset class pioneered by Socios.com, is the first application utilizing Chiliz blockchain technology.

Chiliz has recently introduced an updated version of its original blockchain technology, now known as Chiliz Chain (previously Chiliz Chain 2.0). This upgraded version leverages the Proof of Staked Authority (PoSA) consensus algorithm. The innovative upgrade aims to expand the Chiliz ecosystem by allowing smart contract developers, validators, stakers, and other stakeholders to participate in the network.