Non-fungible tokens (NFTs) have been a hot ticket item in the blockchain space for some time now. Recently, though, investors have started to become acquainted with the idea of investing in a person or group. Cryptocurrencies like Rally (CCC:RLY-USD) are seeing sizable interest this fall as it continues to secure social media influencers and athletes on its platform; investors in this network can bank on a partner’s social clout as a method of building passive income and a means to interaction. Chiliz (CCC:CHZ-USD) presents a unique spin on this idea with its fan tokens. Now, it’s bridging a gap between this type of “social” crypto investing and NFTs, and Chiliz price predictions are soaring as a result.
Chiliz is a sports fan’s favorite cryptocurrency. The network has partnerships with a number of high-profile professional soccer teams like Juventus and Paris Saint-Germain. It is also teaming up with NBA teams like the Boston Celtics and Washington Wizards, as well as several eSports conglomerates. Investors can buy tokens for their team of choice; this in turn gives one access to exclusive tickets sales, merchandise, governance decisions and more.
The CHZ token has steadily built its following this year by offering a closer relationship with one’s team than has ever been possible. Beyond furthering fandom, though, investors are presented with a chance to bet on a team’s success. As a team becomes more high-profile, their token becomes more sought after, meaning winning equals gains. This is similar to other social investing blockchain networks, where an investment becomes more lucrative when the person invested in becomes more famous.
Chiliz Price Predictions Become Spicy With New NFT Capabilities
Chiliz is soaring in recent weeks thanks to a curious new means of distributing NFTs on the network. The network made the announcement that NFTs would become a part of the ecosystem at the end of October; this news is quite exciting, but the means by which the NFTs are available is the really interesting part. The result is a boom in CHZ crypto values and interest in Chiliz price predictions.
Beginning with soccer giant AC Milan’s match on Halloween, CHZ holders could begin placing predictions on the outcome of games in exchange for NFTs. Those lucky fans who predict the outcomes of matches correctly now receive hyper-limited NFTs of key moments from the event. These NFTs are generated in real time. Pair this news with the network’s busy autumn of securing partnerships with high profile names — like their incoming partnership with the NFL’s New England Patriots — and you’ve got a solid case for some huge gains. And that’s exactly what investors are seeing.
Since the announcement of the NFT launch, prices of CHZ are up over 100%. Chiliz is put in a spot where it could very well see a new all-time high. But, where is the CHZ token heading in the future? Let’s take a look at some Chiliz price predictions and see what analysts think:
- CoinPriceForecast expects CHZ to blow past its 89-cent all-time high and then past $1, closing out 2021 at $1.09.
- DigitalCoin says CHZ will be just under its all-time high at the year’s close. It sees Chiliz heading into 2022 with a value of 85 cents.
- The Economy Forecast Agency predicts CHZ will finish out 2021 with a $1 value, given some increased bullishness. In November of 2022, the site is targeting a price of $1.19.
- WalletInvestor thinks that in 12 months’ time, CHZ will still be under that $1 valuation. Its November 2022 prediction prices CHZ in at 91 cents.
On the date of publication, Brenden Rearick 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.