2 Reasons This Tiny Crypto Has Explosive Potential
By now, almost everyone has heard of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), but unless you are deep in the weeds in the world of crypto, or perhaps a fan of some of Europe's top soccer leagues, you may not have heard of Chiliz (CRYPTO: CHZ). But with that token's price up by 27% over the past week at a time when most other cryptocurrencies have been struggling, perhaps it should be on your radar.
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Chiliz is a cryptocurrency that "aims to foster a blockchain ecosystem built for sports and entertainment." Most notably, it is the crypto that powers the Socios fan token platform. Fan tokens are essentially cryptocurrencies issued by sports teams (or bands, entertainers, and the like) that offer their holders perks and benefits similar to membership in an exclusive fan club. Holders are able to vote on decisions relating to their team, such as the designs of special uniforms, banners, or murals that will be displayed at the stadium or in the locker room. They also can get chances to win more perks like access to VIP events or to meet players. The Socios platform has partnerships with more than 100 teams and individuals worldwide, including some NBA and NFL teams, Formula 1 drivers, UFC fighters, and some of Europe's top soccer teams such as FC Barcelona, Real Madrid, Paris Saint Germain, and Manchester City.
Source Fool.com
