Chiliz AMA Summary Recap with Shin Chan Community

We held a live AMA with Siyi, Community Lead & Chinese Marketing Specialist of Chiliz on 25th February 9:00 PM (UTC+8). Here’s the recap for those who missed it.

Introduction

JH| Shin Chan: As we know Chiliz is The world’s first tokenized sports exchange. And there are a lot of good news of Chiliz recently. As we know Chiliz is The world’s first tokenized sports exchange. And there are a lot of good news of Chiliz recently.

One of the great news is the successful of The football powerhouse AC Milan Fan Token ($ACM) on the Chiliz Chain was launched on Binance with a new Launchpad format yesterday.🎉🎉

Siyi |Chiliz: Yep, also on the biggest Turkish exchange Paribu, trading with Turkish Lira :))

JH|Shin Chan: Could you share with us, how you start your crypto journey, and how you join Chiliz?

Siyi |Chiliz: I’m Siyi, the community lead and Chinese marketing specialist for Chiliz (yep I’m Chinese). My background is in marketing, however before I joined Chiliz, I was in the traditional sector (FMCG, traditional finance etc)

I learnt Bitcoin in early 2017, ever since then, I built a strong interest on Bitcoin and blockchain, and started doing some little investment.

Then I found this industry really interesting and full of opportunity, so I decided to embrance this industry full-time. So in 2019 I got very lucky and joined Chiliz, started with building the Chinese community for the company.

Twitter AMA Section Begin:

Q1. The First Twitter question from @Zetly092

“ Today- New Collaborations & Partnerships are very Important for the Growth & Developments of any Project Especially for Crypto Projects ! So- Can you tell us some Recent Major Partnerships of Chiliz Project for project Expansion & Future Plans?”

Siyi |Chiliz: So, we have been partnering with top tier sporting organizations since 2018, starting with Juventus and Paris Saint-Germain, with this, we attracted a loyal community, helping us close more partnerships with more ease.

Recently, we also expanded to two main market — Poland & Neitherlands, by partnering with the local leading football team, Legia Warsaw and Fortuna Sittard

And some of the big recent partnership announcements include:
AC Milan (Football)
FC Barcelona (Football)
UFC (MMA)
PFL (MMA)

And you may have noticed that AC Milan Fan Token — ACM was recently listed on Binance, as part of our strategic partnership

Whilst I don’t want to spoil too much, you can expect that Chiliz and Socios continues how we started, more teams, more fans, more features on our fan engagement platform and obviously our big goal to become a $1bn venture.

Q2. The Second Twitter question from @huyenan1999

“Why did yоu chооsе fооtball as an initial devеlоpmеnt fоr Chiliz? How can you describe and dеmоnstrate the uniquеnеss and vаlue of thе Chiliz platform to a fооtball fаn?”

Siyi |Chiliz: Initially we were only targeting esports teams.

But quickly realised that the sports industry was struggling with digitization of fan engagement aswell as struggling with generating sustainable revenue streams, so, when we spoke to the clubs, they clicked immediately.

They realised that giving fans digital authority can be a good way to enhance the engagement, as well as a good revenue stream.

And even though last year and this year are struggling for most people, this COVID situaion made the clubs realise the importance of fans engagement, since they started to struggle even more with revenue and didn’t really know how to engage their fans in a meaningful way outside of the stadium. And this very specific niche has been our mission since the beginning.

And for the second question, it would be better asked to a football fan, a fan of one of our partners for example. Ever since we started the journey, we have delivered thousands of VIP experiences, rewards and more for fans, creating a loyal feedback loop between us, them and their favourite club. The value of Chiliz x Socios to the fan depends on how engaged they want to be with their club.

Q3: The third Twitter Question From @Aykutbarnabas

“Chiliz provides sports entities with blockchain-based tools to monetize their audiences. But why would a fan prefer to purchase a fan token from their favorite team instead of buying official team merch (a direct way to monetize the audience)?”

Siyi |Chiliz: Owning a Fan Token not only entitles you to have a share of influence in the club, but also direct access to offers, rewards and games, much more value proposition than buying a team jersey.

Fan Token is the certificate for fans to participate in their favourite clubs’ poll, not just one time, but forever (as long as you don’t sell your token), decide the daily business for their favourite clubs, and have the honour of being a ‘Super Fan’. None of these can be provided by owning a merch.

And from the blockchain perspective, let’s look at NFTs for example, why would someone buy an NFT instead of a real collectible? They’re both scarce, they’re both rare, one digital, one not.

Q4: The Fourth Twitter Question from @hakkikeless

“Chiliz opened an Exchange to trade the Sports team Fan Coins, but where did these coins get their market value? From the results of the related team? If Barcelona win the match vs Atletico Madrid, will the FCB coin have more value?”

Siyi |Chiliz: The market value of a Fan Token is purely determined by supply and demand. Compared to traditional crypto assets, Fan Tokens have a relatively low total/max supply as we want (in the future) for ownership of these Fan Tokens to feel exclusive to the fans.

That depends, some instances we saw price speculation during the champions league, though we can’t / won’t / don’t comment on price movements, that’s not our job. Our job is to keep onboarding gigantic partners with huge network effects and grow the awareness of this exciting venture!

And recently, we have introduced the burning mechanism on Fan Tokens. And the total supply is linked to the performance of the club.

In January we did a Fan Token Burning Super Weekend — https://www.socios.com/the-fan-token-burn-super-weekend/

And based on the match result during that weekend, we burned a portion of the total supply of the winning teams’ fan token.

You can check the burn data of both CHZ and each Fan Token from this site — https://www.fanmarketcap.com/burn-data

Which is built by our community :))

Q5. The fifth Twitter Questions from @Greyhair_08

“I know Chiliz focuses on delivering a product that works,improving the product and creating new innovation, with users enjoying its utility and features. Will CHZ ever move to its own MainNet? I want see Chiliz become the next scalable blockchain.”

Siyi |Chiliz: Well, there is always a chance that we move to ‘mainnet’, but for now we use what is working the best of us (though, obviously when Ethereum is congested, the experience is not so amazing, but we are optimistic that scaling solutions will occur on Ethereum in the very near future to make it more competitive again in terms of TX speed and fees).

Live AMA Begin:

Q6. So, do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?

Siyi |Chiliz: Hi yes. We announced the Token Economy 2.0 last year, so bascially -

- 20% of the Net Trading Fees of Chiliz.net Exchange collected in $CHZ will be burnt.*

- 10% of the Net Proceed of the Fan Token Offering (FTOs) from Chiliz.net platform collected in $CHZ will be burnt* + 3 months lock on collected $CHZ.

- 20% of the Net Proceed of NFT & Collectibles issued by $CHZ will be burnt*

(*As the $CHZ Smart Contract does not allow direct burning of ERC20 tokens, the “burnt” tokens will be sent to a blackhole address.)

Q7. Chiliz Offers a lot of rewards and Exclusive Experiences such as VIP invite to a meet and greet With sport heroes, exclusive dugout access on match days, Receive signed official jerseys etc. Who sponsors all this is it Socios or The Clubs and are there real examples you can share with us of people who have benefitted from This exclusive offers?

Siyi |Chiliz: Clubs offer the exclusive rewards and experiences for their fans. From the twitter of Socios.com you can see a lot of examples, and here is one — https://twitter.com/SteSkets/status/1364279388464951300

AS Roma fan, also an $ASR fan token holders was invited to the stadium of AS Roma and enjoyed an exclusive VIP expeirence.

We have also giving out a lot of signed merchs, clubs jersey and virtual experience (unfortunately only virtual ones due to the Covid) in Socios.com app, make sure you download and become a Fan Token holder if you want to win any of these rewards!

Q8. Can you list killer features of Chiliz that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about ?

Siyi |Chiliz: Well, the most confident part we feel about Chiliz is we have built a strong network effect now, as we have partnered with more than 20+ leading sports organisations in the world, including some of the biggest names, including Barca, AC Milan, PSG, Juventus, UFC, PFL, and etc., which will attract more players in the sports industry to work with us. And our mainstream product — Socios.com application, has been improved a lot along the way and keeps attracting more and more users (more than half a million till now). So we have the confidence to become the leading player in the sports tokenisation field.

Q9. -Fan tokens have been well received by users and investors. Does Chiliz project plan to expand its operation to include NFTs and Digital collectibles? Do you believe NFTs have a role to play in sports industry?

-What are Chiliz plans for market expansion to Asia and Africa? Do you have an ambassadorial program to help create awareness in these regions?

Siyi |Chiliz: Yep, we have the NFT plan since last year. We have also partnered with Enjin. However we are not in a rush to step into the NFT field, however we are planning some cool struff around it. We want to give a true value of the NFT rather than just collectibles.

Also we still believe that Fan Token, the asset that containds real utility for mainstream users, is bigger than NFT :))

Q10. What is the SSU token utility in Socios app? How can SSU token holders improve the Socios platform?

Siyi |Chiliz: SSU is the loyalty token of Socios users, all the new users of Socios.com platform will receive a SSU automatically. With SSU you can participate in the polls run by us, to help us understand what you want in the platform and enhance the user experience. We will soon launch a new ranking system and SSU will play a significant part in that system, so get more SSU if you can! 👀

Q11. Please tell me Is CHZ a regular exchange token for sports club coins, or does CHZ have other functions?

Siyi |Chiliz: Hi we mainly focus on sports & entertainment related tokens, like our own fan tokens and some other tokens like REVV, however we also provide the basic mainstream pairs trading, like BTC.

-End-

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store