Chiliz, football-based crypto on a hat trick, surges by 380% in a week

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Chiliz, a digital token designed by Socios for sport and entertainment engagement, is enjoying a record-buying spree and currently ranks as the best performing crypto asset for the week.

At press time, Chiliz price is $0.648685 with a 24-hour trading volume of $4.4 Billion. The fast-rising crypto is up by 380% for the week

The 30th most valuable crypto currently has a market capitalization of $3.5 Billion. It has a circulating supply of 5,547,664,720 CHZ coins and a max. supply of 8,888,888,888 CHZ coins.

READ: Football-based Crypto, is world best performing Crypto in 7 days

The most recent rally comes after news of premier football team, Paris Saint Germain, (PSG) progressing to the quarter-finals in the Champions League.

The fast-rising crypto specializes in creating tokenized cryptos called Fan Tokens that are unique to each sporting team.

Owners of fan tokens will be able to influence club decisions to vote in many polls each season on Socios.com, earn rewards linked to the club, other creative digital experiences, and real-life activations, such as meeting players and watching games like a VIP when fans return to the stadiums.

READ: Billionaire, Uzor Kalu wants to buy 35% stake in Arsenal FC

Following PSG’s Champions League progression, the football Fan Token rose by nearly 110%, and the French football team took to Twitter to share the observed “strong demand” for digital collectibles with its 8.7 million followers.

Dozens of more clubs are set to launch Fan Tokens before the end of the year, with many leading IPs from sports and entertainment also primed to join the Socios.com roster in the near future.

The fast-rising crypto can be traded on crypto exchanges such as OKEx, HBTC, Binance, Huobi Global, and Xtheta Global.

$PSG Fan Tokens in high demand as the team makes it to the quarters!

Follow @socios and @Chiliz, prepare your $PSG and get ready for the new #NFTs coming to the https://t.co/yJwMOnnbOy app.#NFT #digitalcollectibles

⚡ $CHZ

— Paris Saint-Germain (@PSG_English) March 11, 2021

READ: Ex-Real Madrid Striker, David Barral becomes first-ever footballer to be bought with Bitcoin

Nairametrics believes such partnerships with these football clubs via blockchain will open more economic opportunities and leverage the wider audience via collaboration with the industry’s global brands.

Socios.com Fan Token partners include Juventus, AS Roma, Galatasaray, FC Barcelona, Atlético de Madrid, Paris Saint-Germain, CA Independiente, Apollon Limassol and esports organizations Team Heretics and OG.
Dozens of more clubs are set to launch Fan Tokens before the end of the year, with many leading IPs from sports and entertainment also primed to join the Socios.com roster in the near future.

The sport-backed blockchain, popularly known for its investments in European soccer, recently disclosed that it would invest $50 million in an expansion to the world’s largest economy,

Presently, Chiliz is also holding talks with the prestigious car race championship teams, as the company tries to strengthen its grip on other sports.