Sports fans looking for interesting blockchain projects may want to consider giving Chiliz (CCC:CHZ-USD) some consideration.
Chiliz has developed a fan engagement platform based on its blockchain. The platform uses the CHZ token and helps sports and entertainment organizations engage and monetize their respective audiences.
The company operates from its Socios.com site, which allows fans to influence teams, and gain rewards and engagement-based recognition. Participants purchase branded Fan Tokens from in network sports teams. The teams currently on platform are starting to read like a who’s who of sports with teams like FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, Galatasaray, Atlético de Madrid, OG, CAI & UFC present.
Breath of Fresh Air
Chiliz is fairly low on the list of altcoins based on market capitalization. On that basis, it ranks #58, with a value of roughly $2.28 billion, per Coinmarketcap.com. It isn’t a breath of fresh air based on that per se. But rather, it’s a breath of fresh air because it is building, and has built something that makes sense.
Many of the smaller altcoins by market cap seem to offer little in the way of any logical utility. Investors require a deep knowledge of coding and computer science to simply sift through the jargon their marketing content relies on. I’m not saying I don’t believe in them. I do believe that opaque blockchain projects like BitTorrent (CCC:BTT-USD) are destined for failure however.
Chiliz, on the other hand, is transparent and has a straightforward business model. That’s why I think that readers should at least give Chiliz, and its 41 cent CHZ coin, some credence.
Based on the introduction of this article you might be thinking that Chiliz is exclusively a soccer-based sports blockchain project, but that’s not necessarily true.
Large Fan Base
Chiliz is clearly aiming to build a blockchain platform with massive, global appeal. That is evident by the fact that it is working hard to sign soccer teams and cricket teams to its platform. Soccer and cricket are the number one and number two most popular sports worldwide. According to sportsshow.net, each sport has 3.5 and 2.5 billion fans, respectively.
Beyond those sports, Chiliz also has deals with NASCAR, UFC, and the NHL. Let’s look at some of these exciting deals, a number of which were announced days ago.
A Rush of Activity For Chiliz
On May 13, Chiliz announced three separate deals across three different sports. To reiterate why Chiliz looks so much more promising than so many other blockchain projects, think about this: lots of blockchain projects bombard you with technical jargon, yet have extremely underdeveloped platforms. Once blockchain madness settles, consumers are going to be left wondering why they were ever interested in the first place. More importantly, those projects are never going to go anywhere because they won’t build partnerships with organizations that can utilize their respective tokens. They’re in the phase of simply attempting to show that their tokens may someday have utility.
Chiliz is out there, leagues ahead, already having convinced major organizations of its coins’ utility, and making deals.
Deals, Deals, Deals
I get the feeling that some people are under the impression that blockchain projects are fundamentally different from other businesses. They aren’t. Chiliz, as a blockchain project, simply needs to bring revenue through its doors just like every business.
Chiliz’s May 13 flurry of activity got it much closer to that reality. The company signed deals to launch a Fan Token for Argentina’s national soccer team, one for NASCAR’s Roush Fenway racing team and three teams from India’s IPL cricket league.
Don’t waste your time with garbage coins whose founders don’t even believe in them. Don’t waste your time trying to understand the latest hot token rich on indecipherable jargon and bereft of substance. Those will be the chaff that gets discarded into the dustbins of crypto crap.
Get on board with Chiliz now because it makes sense.
On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.