Chiliz (CHZ) has seen a dramatic 43% price increase in the past 24 hours than the coin trends on Coinmarketcap.
Chiliz is a blockchain fintech provider for sports and entertainment. The project aims to provide sports fans with a platform to interact with their teams for payments, digital products and alternative payment options.
According to the Chiliz website, some major football clubs such as PSG, Manchester City and FC Barcelona have already partnered with the project, which may have led to the price increase.
Soccer and sports teams are showing greater interest in blockchain technology and cryptocurrencies to better connect with their fans.
FC Barcelona has already presented its own fan token, which fans can use to vote on club decisions such as jersey designs and other design decisions. If Barcelona are also a partner of Chiliz it will be interesting to see how the club incorporates this into their existing infrastructure.
Where can you buy Chiliz?
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Why is Chiliz hot right now?
With Euro 2020’s late start tonight, it is possible that interest in sports-related projects could rise in the hope that the tournament could be a catalyst for those projects to generate more profits.
To kick off the tournament tonight, Turkey will face Italy in what will be a long-awaited return to international football.
Chiliz (CHZ) is the utility token for Socios.com that facilitates fan engagement. On this website, users can buy the tokens and participate in smart contracts specially set up for their club.