Can blockchain technology combined with sports be possible? This question is answered by non-fungible tokens (NFTs). Chiliz (CHZ) is one of the most prominent players in this market that targets sports lovers.
Blockchain technology in gaming is driven by NFTs, digital assets representing in-game content. These tokens are unique, rare, and indivisible. Furthermore, blockchain networks that underpin NFTs facilitate player ownership, provable scarcity, interoperability, and immutability.
This article will discuss Chiliz, the largest cryptocurrency for sports and entertainment. Let this article tell you what the crypto industry experts think of the future of CHZ in the crypto market. Also, we will go over the role CHZ investors play in supporting the professional sports team of their choice.
We will walk you through the following concepts to grasp whether CHZ is a good investment by the end of the article.
- The CHZ Future and Price Predictions | Under the Eyes of Crypto Industry Experts
- The Chiliz Network Overview
- The CHZ Tokens | The Power It Gives to Sports Fans
The CHZ Future and Price Predictions – Under the Eyes of Crypto Industry Experts
The Future of Chiliz
Before diving into the thoughts of crypto experts in the Chiliz future, let us first take a look at the current statistics of the token. At the write-up, Chiliz is currently valued at $0.121 per token.
It has $646,703,789 market capitalisation making it rank 86th entering the top crypto of the market. It was initially valued at $0.017 during its launch in 2019. Due to this data, we can see a 449.6% increase in the tokens’ ROI (performance and efficiency metric of crypto prices).
Chiliz’s clearly expressed its goal to provide a venue for sports fans to show their support to professional sports teams. With a sole focus on the sports market, the project intends to attract new clients or active sports fans who were previously unaware of cryptocurrencies.
According to Alex Dreyfus, the Founder and President of Chiliz, many traders praise and despise their team when they are down when projects are up. He further explained that the project remains the same day after day despite the clash of opinions.
This hasn’t altered, and with fans’ emotions, the CHZ as fans tokens will rise and fall. However, Dreyfus said that this would lead to the further development of the network.
The CHZ Price Predictions
Cryptocurrency specialists anticipate a positive future for the coin because of Chiliz’s assertions made by Dreyfus and the network’s strong fundamentals.
With the anticipation that NFTs will perform well in the future, Dart Europe’s in-house technical analysis shows that the price prediction for Chiliz is expected to reach the minimum price of $4.62 and a maximum of $5.29 by the end of 2030.
DigitalCoinPrice also agrees with its CHZ coin price forecasts that the token will be worth around $0.131 in December 2022. Their Chiliz projection in 2024 is $0.54, and by 2029, it would average $1.
The experts make another CHZ price prediction at TechNewsLeader. According to the media site, Chiliz is expected to go up from its current price of $0.121 to a maximum price of $0.89 by 2025.
Before the end of 2025, CHZ can match its previous all-time high of $0.8915, despite price fluctuations, there is a high possibility that CHZ can reach an average price of $5.44 in 2030.
However, despite the positive reviews of experts on the CHZ token, you should keep in mind that price predictions are not absolute. There is no assurance that these predictions will be met, especially since cryptocurrencies are volatile assets. Thus, the market value fluctuates for various on-chain and off-chain factors.
The Chiliz Network Overview
Chiliz was created in collaboration with Socios and based on the Ethereum network’s blockchain. This project aims to promote fan support for their favourite teams and clubs. Thus, the name fan token is attributed to CHZ.
Chiliz is the cryptocurrency that powers socios.com. Socios.com is a website that allows people to trade their coins to support professional sports teams. The platform’s token qualifies its users for prizes and promotions and the ability to vote on team choices via the Chiliz blockchain.
Alex Dreyfus, an already successful entrepreneur, launched Chiliz and Socios. Chiliz secured extra money through private investments in 2018, with Binance becoming the project’s first investor.
Aside from this significant partnership, Dreyfus has inked 19 collaboration agreements by 2020. He invested in Chiliz Marketing as a result of the hype. This allows sports fans to participate in sports marketing and other sports areas from their own homes.
The CHZ Tokens – The Power It Gives to Sports Fans
The Chiliz token was created to support die-hard sports lovers. It allows supporters to communicate with the team and participate in critical decisions. In Binance SmartChips, the CHZ token is an ETH-20 ERC token and a Bep2 token. Within the Chiliz ecosystem, these tokens are the most useful.
The Socios app has a few key features that allow fans to interact with the Chiliz ecosystem. It primarily functions as a Fiat gateway for Chiliz users. Customers can use their credit cards to purchase Chiliz Tokens. In addition, fans can exchange CHZ tokens for tokens from other clubs.
Final Thoughts
Chiliz is still a popular topic of discussion. Many of the investments made in it have already paid off. If you wish to retain a coin for a long time, it can be an excellent investment. Significantly if it can diversify and complement the cryptocurrencies you already have in your portfolio.
Technical analysis, according to experts, is essential when making decisions. Coming prepared with ideas, price forecasts, and a trading strategy is also beneficial.
However, merely relying on technical analysis and forecasts will not guarantee your success. Nothing is assured in the end, especially given the unpredictable nature of cryptocurrency.
It’s best to get the advice of a skilled financial advisor and do your research. Before investing, it’s always a good idea to research to earn money with the cryptocurrency you’re interested in.
