Chilliz, the Socios.com token, has been performing well in recent days with an increase of more than 15% in 24 hours for the day yesterday. So what explains this sudden pump for the leader of fan tokens?
Chill in the green!
While The Football World Cup is fast approaching, Chilliz knows the last days in the green. Indeed, yesterday the token gained more than 15% and soared to $0.24. It is now experiencing a slight correction with a 3.7% drop over the last 24 hours. At the time of writing these lines, it still trades at $0.22.
The Socios.com platform token continues to grow by more than 15% over the last 7 days. This makes it one of the best performers in the market among the top 100 largest caps in the sector. Among the big winners, we also find Trust Wallet Token (TWT) with 6% gains and once again Quant (QNT) with 4.55% gains.
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A World Cup effect?
The next World Cup will begin on November 20 in Qatar. Despite the controversies and the boycott of many personalities, this event remains one of the most publicized and awaited in the world. For now, the World Cup seems booster the coast of fan tokens and CHZ, the token of Chilliz.
Federation Tokens Argentine of Football and the National team of Portugal respectively experienced a increase of 23 and 18.4% in the last 24 hours.
These tokens remain dependent on the good bitcoin health. If the latter continues to perform, they could well continue their march forward, especially as the launch of the competition approaches. Beware all the same of a World Cup effect, which would see these different tokens overvalued then massively sold out once the competition is over.
Boost fan engagement
Chilliz is the leading fan token project. Through its platform Socios.comit allows fans to make a concrete commitment for their teams. By owning tokens of their team, fans can take part in votes on different proposals in connection with their team: choice of a message to display on the shirt, song played after a goal, etc.
A way of booster l’engagement des supporters which convinces many clubs and national selections. Among the teams that have the fan token, we find clubs like the PSG, AC Milan, Barca or Manchester City.
Selections Argentine, Portugese are also among the teams represented on the platform. The token of the Italian selection will also soon be offered on Socios.com.
Apart from football teams, F1 teams, rugby clubs or even e-sport teams are also available. Otherwise, Chilliz has partnered with many NBA franchises, the North American basketball league. Thus, we can find legendary franchises like the Bulls or the Los Angeles Lakers. Socios.com is also regularly displayed on the edges of the floor in the largest rooms in the country.
A promising project
The expansion of Socios.com and Chilliz is impressive in just a few years. Like Sisterin the world of fantasy league sports, it is one of the most promising projects linking blockchain and sport. The sports industry has been growing for several years and the world of Web 3 intends to take advantage of it.
It will therefore be interesting to observe if the World Cup continues to boost the CHZ coast And for how long. Despite this recent pump, the crypto market remains in a tricky pass and Chilliz remains at the mercy of market conditions.
The upcoming Fed announcements will be particularly decisive and could cause the market to plunge again. We will closely follow the next few weeks for Chilliz, one of the most promising projects in the crypto ecosystem.
To learn more about the process of listing cryptos on large centralized exchanges, find our article here.