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CHZ 2.0: Chiliz sentiment, price on rise amid Socios owner’s plan for native chain, FC Barcelona tie-up

14:23, 23 September 2022

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The CHZ coin in front of a price graph
The Chiliz layer one mainnet was slated to go live later this year – Photo: Shutterstock

Chiliz, the crypto sports and entertainment network that powers fan-token platform Socios, is on a bull run with its CHZ crypto up 31% over the past seven days, as of 23 September.

The upward trajectory of CHZ comes amid new partnerships, network developments and leadership announcements.

CHZ to USD

The network-defining news remains that the mainnet of its layer-one blockchain is set to go live by the end of this year, according to the roadmap on Chiliz’ website.

It was also announced today that Sport Club Internacional, a Brazilian football club, is the latest to join the ecosystem and mint its own fan token.

CHZ’s price surge

Chiliz saw steady growth throughout August, opening the month at $0.12 and closing at $0.21.

It was a significant month for the network, which acquired a $100m stake in Barcelona’s digital studio. FC Barcelona’s BAR remains a notable fan token on the platform.

CHZ managed to harness stronger momentum on 15 September, when Julian La Picque was appointed as group chief financial officer (CFO) at Chiliz.

XRP/USD

0.46 Price
-0.840% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00600

BTS/BTC

0.00 Price
0.000% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00000002

BTC/USD

19,238.70 Price
+0.040% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 60.00

ETH/USD

1,305.99 Price
-0.160% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 5.00

Based in Switzerland, La Picque previously worked as CFO of blockchain company Covantis, and co-founded the crypto consulting firm Uncrypted. Alexandre Dreyfus, chief executive of Chiliz and Socios.com, said in a Medium post:

“Julian’s expertise in the blockchain space and in navigating high-growth companies will be vital in driving our overall financial strategy forward and helping the company achieve its strategic goals.”

More recently, the e-sports group Immortals announced it was launching its own fan token on the Socios platform. Immortals represents the Great Lakes Region in the United States and is now the first American e-sports organisation to have its own token.

Following the news, CHZ was trading at $0.26 as of 23 September, up 31% over the past seven days and 12% over the past month.

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What’s in store for the rest of the year?

In March 2022, the network launched the public testnet, under the name Scoville, for the Chiliz Chain 2.0. This marked the first blockchain developed solely for the sports and entertainment industries.

A Medium post said: “CC2 is a secure network-effect driven community that is primed for growth and will expand as Chiliz adds more partners to the Socios.com roster… and entertainment brands build Web3 products, services and experiences on the blockchain.”

According to its roadmap, the mainnet will go live between the third and fourth quarter of this year. Its name will also change from Scoville, a measurement of spiciness, to Habenero.

The FIFA World Cup, which starts on 20 November, could also be a significant event for the Chiliz. Socios announced it would continue to host Argentine Football Association’s fan token until 2026. Dreyfus said:

“We’re excited by all the possibilities on the horizon, starting with this year’s FIFA World Cup, and look forward to building a vibrant, connected community for all Argentina fans on Socios.com.”

Further reading

What You Need to Know

The week ahead update on major market events in your inbox every week. Subscribe
The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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