Who owns the most Chiliz crypto? CHZ token price rises as Socios platform owner attracts more fans
Sports and entertainment-focused Chiliz token (CHZ) was the 40th largest cryptocurrency in the world, as of 7 October 2022, according to crypto data provider CoinMarketCap.
The token has outperformed the likes of bitcoin (BTC) and ether (ETH) in 2022 on the back of its partnership deal with Spanish football club FC Barcelona.
Are you interested in learning more about the CHZ token and who has the most Chiliz tokens?
This article breaks down the history of the CHZ token, its tokenomics and holders.
What is Chiliz?
Chiliz is a blockchain technology provider for the sport and entertainment industry. Chiliz operates a fan token exchange called chiliz.net and a fan engagement platform called Socios.
Alexandre Dreyfus is the founder and current CEO of Chiliz. In 2018, Chiliz raised over $66m through private placement. According to Dreyfus’ LinkedIn profile, Chiliz is a unit of the Malta-based Mediarex Group, a sport and entertainment organisation formed in 2006.
The platform allows sporting organisations to design and mint tokens for their fans to buy, collect and trade.
Fan tokens are cryptocurrencies aimed at giving sports fans exclusive membership perks, voting rights on team decisions, merchandise rewards and access to official non-fungible tokens (NFT).
The CHZ coin is the native Chiliz cryptocurrency. According to its website, the fan influence and rewards platform Socios.com is powered by the CHZ token.
The CHZ token initially launched as an Ethereum-based ERC-20 token. Later, the token was made available as a BNB Smart Chain-based BEP-20 token and Tron-based TRC-20 token.
CHZ coin’s primary use case is to allow sports fans to buy fan tokens on the Chiliz Exchange or the Socios platform.
Sports teams have increasingly partnered with the likes of Chiliz and Socios.com to pursue different avenues for marketing and brand exposure while giving fans the chance to interact with their clubs in new ways.
Chiliz has partnered with football clubs including Paris-Saint Germain, Atlético de Madrid, FC Barcelona and Manchester City.
The company has also partnered with motorsport companies, esports teams, National Basketball Association (NBA) teams, National Football League (NFL) clubs and the Ultimate Fighting Championship (UFC), among others.
What is your sentiment on CHZ/USD?
CHZ supply: How many coins out there?
CHZ is the 40th largest cryptocurrency in the world with a market capitalisation of $1.29bn, as of 7 October 2022, according to crypto data provider CoinMarketCap. The token was trading at $0.2175 as of that date – notably, it has never exceeded the $1 mark since its launch.
The maximum supply of CHZ tokens stands at 8.88 billion which were minted at genesis.
A total of 8.88 billion CHZ tokens were minted at genesis, according to the Chiliz whitepaper.
The 3.06 billion CHZ tokens or 34.5% of the total initial supply was earmarked for token sale and pre-sale.
Team members and seed investors were distributed 444.44 million CHZ tokens each which totalled to represent 10% of CHZ total initial supply.
Chilliz’s six-member advisory board was given 266.66 million CHZ tokens.
The 2.66 billion CHZ tokens, or 30% of total initial supply, were allocated for strategic acquisitions and marketing operations. The remaining 2 billion CHZ tokens or 22.5% of total initial supply was kept aside as “userbase reserves”.
According to research firm Messari, the CHZ token has a mechanism that burns:
20% of the net trading fees collected on Chiliz.net Exchange
10% of net proceeds of the fan token offerings
20% of net proceeds from NFT issued on Chiliz
As of 7 October 2022, CHZ had a circulating supply of about 6 billion tokens, CoinMarketCap data showed.
Who owns the most Chiliz tokens?
According to blockchain data on EtherScan, there were a total of 151,844 CHZ-holding addresses on 7 October 2022.
The biggest Chiliz holder was a multi-signature smart contract address linked to Chiliz. The address held over 2.88 billion CHZ tokens equal to 32% of the token’s total supply, EtherScan data showed.
Two wallet addresses linked to cryptocurrency exchange Binance were the second and third largest holders of CHZ. The Binance-linked addresses held over 1.8 billion CHZ tokens representing over 20% of total supply.
An unidentified wallet address came in fourth on the list with a balance of about 422.2 million CHZ tokens, or 4.75% of total supply, on 7 October 2022. The wallet address indicated an active user with 2,560 transactions executed.
Another unidentified wallet address was the fifth biggest CHZ holder, according to EtherScan data. The wallet held 370 million CHZ tokens. Data showed that the wallet had executed only 6 transactions all of which showed CHZ tokens sent to and fro Binance-linked addresses.
It should be noted that while blockchain data is transparent and wallet balances are viewable to the public, the identity of the wallet address holder remains anonymous by default unless disclosed.
There were four more anonymous wallet addresses and one address linked to crypto exchange OKX among the top 10 holders of Chiliz, according to EtherScan.
CHZ holders analysis
High whale concentration in any cryptocurrency makes the token’s price vulnerable to sudden drops in case a whale chooses to sell a significant proportion of their stake.
Data from research firm IntoTheBlock showed that concentration of large holders in the CHZ token stood at 83%, as of 7 October.
In comparison, bitcoin’s concentration by large holders stood at 10% and ether’s concentration by target holders came in at 41% on 7 October.
IntoTheBlock data revealed that 61% of Chiliz holders held their tokens for over one year while 36% of holders held it for one to 12 months.
As of 7 October, 72% of CHZ holders were “out of the money”, meaning they were holding their CHZ tokens at a loss at current (7 October) trading price of about $0.216.
Important news for Chiliz holders: FC Barcelona deal
Let us look at some important Chiliz developments which small and large Chiliz holders should be aware of.
The biggest development of the year for Chiliz was the announcement of the partnership between its fan engagement and rewards platform Socios.com and Spanish football club FC Barcelona.
On 1 August 2022, Chiliz announced that Socios.com acquired a 24.5% stake in Spanish football club FC Barcelona’s digital content creation and distribution hub, Barca Studios, for $100m.
According to Chiliz, the deal made Socios FC Barcelona’s strategic technology partner to work on the club’s blockchain, NFT and digital assets and Web3 strategies.
The CHZ token surged on news of the deal and posted a monthly gain of over 75% in August 2022.
Another significant development was the announcement of Chiliz Chain 2.0 (CC2) in early 2022. The CC2 is a layer-one blockchain that will enable NFT mints, fan token mints, play-to-earn games and decentralised finance (DeFi) applications on the Chiliz-focused blockchain.
In late-September 2022, Chiliz announced that LiveLike, a real-time fan engagement and retention solutions company, will become the first to develop its blockchain and web3 projects on the CC2 blockchain.
Chiliz said in a press release on 26 September:
It is important to note that cryptocurrency ownership statistics should not be the key reason behind your decision to buy a cryptocurrency. Whether CHZ is a good investment for you should depend on your investment goals, risk tolerance, and the size of your portfolio.
It is important to do your own research before making any investment or trading decision. And never invest or trade money that you cannot afford to lose.
FAQs
How many Chiliz holders are there?
According to blockchain data on EtherScan, there were a total of 151,844 CHZ-holding addresses on 7 October 2022.
Who created Chiliz?
Alexandre Dreyfus is the founder and current CEO of Chiliz. In 2018, Chiliz raised over $66m through private placement. According to Dreyfus’ LinkedIn profile, Chiliz is a unit of the Malta-based Mediarex Group, a sport and entertainment organisation formed in 2006.
Is Chiliz legit?
Regulation around cryptocurrencies are still being developed due to the nascent nature of the industry.
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