The success of launching a pro-AC Milan token and planning to expand operations in the United States led to a 1,000% increase in Chiliz tokens last month.
to the the report Quinn Telegraph, NFTs, and Decentralized Finance are some of the hottest concepts in digital currencies, and each of them is changing the way projects and companies interact with people on a large scale.
One of the projects that seeks to apply these concepts in a framework for sports club participation is called Chiliz. Chiliz is a Blockchain platform created by the Socios platform. The platform works with the aim of attracting more fans and allows fans to participate in the activities of their teams by buying fan tokens and through public voting.
According to the project website, all pro tokens are generated on the Chilean Blockchain block, and platform voting takes place through a set of smart contracts.
TradingView data show that the price of CHZ has risen 760% over the past month. The price of this token has reached its historical peak of $ 0.189 on March 8 (March 18) from $ 0.022 on February 8th. Chile’s trading volume in 24 hours was a record $ 1.92 billion.
The platform currently offers tokens in support of some of the world’s most famous sports clubs such as Barcelona, Juventus, AS Roma, Paris Saint-Germain, Galatasaray and Atletico Madrid.
The Chilean token began its uptrend in late 2020 (late December and early December) when it partnered with Bainance to launch the ACM Pro Token for AC Milan on February 24 (March 6). The launch of the token generated $ 6 million in revenue for the CHZ ecosystem.
ACM is part of a network of 23 sports and e-sports organizations that plan to work with Chile to launch a pro token.
It is worth mentioning that the price of chillies on March 2 (March 4) also faced a price jump. On that date, Alexandre Dreyfus, project manager, announced that he had allocated $ 50 million to expand activities in the United States. He also said the project has plans to start working with local leagues and US professionals.
Data from the VORTECS Index The Coin Telegraph Market Pro identified Chile’s bullish outlook on March 1, ahead of the project’s recent price increase.
Chilean executives are currently in talks with the organizers of the Formula One World Championships, and if they can work with popular sports teams in the United States, the project could be in a good position to grow further. The growth of projects such as Chile is increasingly integrating China’s blockchain technology and NFTs into the sports industry.