Did you know that the worldwide esports market will clock a growth rate of 32% in the coming three years, escalating the population of gamers to 3.07 billion by the year 2023? Before the inception of Chiliz (CHZ), an ERC-20-based cryptocurrency with a vision to transform the voice of spectators, we were living in a bygone era wherein we were just passive spectators of our favorite teams.
Alexander Dreyfus, one of the biggest sports fans, observed the transactional contact between fans and teams. He noticed that fans were mere observers with the fundamental right to purchase licensed products and watch the game. Before 2018, there was no means by which fans could control the decision-making process of their favorite teams.
However, after October 2018, the world of esports and leagues saw a dramatic yet enthralling change, wherein global fans and supporters are now active agents taking part in the major decisions via tokenized voting rights.
From fans to active agents:
The inception of the Chiliz platform, powered by its native token Chiliz (CHZ) and Socios, a platform where the token operates. This transformed esports and sports across the globe through the gamification of voting rights with the sophisticated experience of trading and re-trading. Moreover, now each and every fan’s decision will directly impact the functioning of the team they chose. These teams controlled by fans can compete independently or in new environments like leagues.
The straightforward and simplistic answer to how investors can leverage CHZ is by supporting their favorite teams and players, becoming a part of the decision-making process, and by being active agents instead of passive observers. However, this is not the crux of Chiliz (CHZ). There are more layers in this blockchain-based platform, giving a voice to the supporters. So let’s take a deep dive into how CHZ works and open up the layers one by one.
Working of Chiliz (CHZ):
Socios is a platform built on CHZ blockchain infrastructure. Fans supporting any team can download this app from the Google play store and, after verifying the account, purchase, and fuel it with Chiliz (CHZ) tokens. Moreover, fans can now exchange CHZ with fan tokens launched by their favorite teams and participate in a polling system.
Like any other cryptocurrency, the price of Chiliz tokens will rise and frequently fall, via which fans can make a profit by trading them. Tether (USDT) and Bitcoin (BTC) are the trading pairs of this sports and esports trading crypto.
We are living in an epoch where sports organizations and clubs are tokenizing for the very first time. Currently, there are 8.8 billion $CHZ present in the market. Out of 8.8 billion $CHZ, 34.5% is for the purpose of pre-sale and sale, and 20% user base reserve is used to manage the operations of Socios, the native platform of Chiliz.
How can fans leverage their voting rights?
Though now, fans have become voice holders and a part of the crowd management decision-making engine of the sports club or the organization they have chosen. What type of decisions can fans make in the sports club or league they have a voice in?
- For instance, if a team is building from scratch, the fans holding tokens can decide the players who will be drafted into the team based on a draft pool.
- Moreover, the voice holders can decide which match-ups the team will face in the specific exhibitions, events, and in tournament rounds.
- In the esports club, the fans can decide which character’s skin the team members will wear during the tournament, games or leagues.
- Furthermore, voice holders have the power to decide the maps where the teams will compete in any given match-up.
- While a league is being conducted, fans holding the tokens can decide the format of the league, including the length of the particular season, competitive formats of match-making for the season, and more.
- Moreover, the active agents can also decide the modes of the game in which the team will compete.
- Active agents can also make decisions like how the particular team will be seeded and match-making during a particular season.
- They can make decisions for multi-game leagues as well. For instance, new titles should be taken into consideration during league expansion.
The Global Player League (GPL), a fan-controlled, city-based, worldwide competitive league, will be the Chiliz platform’s first significant native application scalable esports league for the two billion+ gamers worldwide today community. Inspired by the Socios model of fan ownership in football, big heavyweights like Real Madrid & FC Barcelona & were realized with blockchain innovation. The environment of this decentralized esports league enables the franchises of GPL teams to be directly advised by public opinion, achieved through individual voting rights underlying each Chiliz token while taking on the voice of any squad and utilizing smart contracts.
Some of the most lucrative sports franchises, like FC Barcelona, Real Madrid, FC Porto, and SL Benfica, are owned and partially run by “Socios”—organizations made up of tens of thousands of club supporters who participate in the election of the boards and presidents of their clubs. Because no one “Socio” can have monopolistic voting power, everyone gets a say in how top-level management choices are made.
All esports teams using the chiliZ platform, whether independent or league-tied, will launch with a predetermined, finite number of “Voices,” each activated when filled with a chiliZ token. Voting privileges for the team that a certain Voice is linked to are automatically granted to supporters who “park” chiliZ tokens in that voice through the execution of a smart contract. Voters cast their votes on match-making, team roster creation and revisions, and management concerns on a regular basis.