One of the most popular questions we get asked is what are Chiliz Tokens ($CHZ) and what are Fan Tokens.
To put it simply, you buy one to get the other.
Both $CHZ and Fan Tokens use blockchain technology, but don’t worry, this isn’t going to get complicated and getting your hands on them is as simple as any online transaction.
What are Chiliz Tokens ($CHZ)?
$CHZ is the digital currency that you will use on Socios.com app to buy Fan Tokens. You can use a debit or credit card on the app or you can buy them on a third party exchange. Once the purchase is complete, they are stored in a virtual wallet on the app.
So what are Fan Tokens?
Fan Tokens are digital assets that give you the right to vote on club polls and earn rewards. The Fan Tokens are specific to each of our partner clubs, and are also limited in number. Once you own Fan Tokens, they don’t expire, and they’re yours to keep for as long as you want them. Fan Tokens are fungible, meaning that like other cryptocurrencies, they can be exchanged for other ‘goods’, such as VIP experiences, exclusive merchandise, tickets etc.
But how do the tokens work?
You use $CHZ to buy Fan Tokens on the Socios.com app. In our Augmented Reality (AR) feature Token Hunt, you will also be able to hunt for free $CHZ and free Fan Tokens across the world.
How can you get your hands on $CHZ and Fan Tokens?
The Socios.com will be available in the App Store & on Google Play very very soon.
Haven’t signed up yet? What are you waiting for? Sign-up now!