One of the most popular questions we get asked is what are Chiliz Tokens ($CHZ) and what are Fan Tokens.
To put it simply, $CHZ is a cryptocurrency which you use to buy Fan Tokens – fully fungible digital assets which ‘live’ on the Chiliz blockchain. Both $CHZ and Fan Tokens utilize the ERC20 token standard.
Don’t worry though, we’ve made sure that getting your hands on $CHZ and exchanging them for any Fan Tokens you want is as easy as any other conventional online transaction.
What are Chiliz Tokens ($CHZ)?
$CHZ is the exclusive digital currency of the Socios.com app, and the only currency you can use to buy Fan Tokens. $CHZ itself is a ‘neutral’ cryptocurrency just like Bitcoin (BTC), Ethereum (ETH) and others.
How do I get Chiliz Tokens ($CHZ)?
You can buy $CHZ on public crypto exchanges such as Binance.com, or you can buy smaller retail amounts of $CHZ directly via Socios.com using a debit or credit card.
What are Fan Tokens?
Fan Tokens are fully fungible digital assets which give you voting rights and other fan-centric utilities in the different teams each Fan Token is associated with. Fan Tokens are team-specific, and each team only offers a finite available supply.
Fan Tokens never expire, and since they’re fungible they can be exchanged (AKA traded) freely against $CHZ both on the Socios.com marketplace and off-platform on any other Fan Token exchange provider that’s approved to operate on the Chiliz Blockchain.
How do I get Fan Tokens?
You use $CHZ to buy Fan Tokens on the Socios.com app or any other participating Fan Token exchange platform connected to the Chiliz blockchain.
You can also ‘hunt’ Fan Tokens down for free in our Augmented Reality/ Geo-location enabled feature Token Hunt from anywhere in the world. You can find some extra $CHZ floating in there too!
What you waiting for? Download the app now!