Chiliz Price Prediction | Is Chiliz (CHZ) a Good Investment?

The token is rallying again after FC Barcelona announced a multi-million dollar partnership with Socios

From logistics to business to finance, crypto is attempting to disrupt just about every market in existence.

The sports industry is no exception – and Socios.com, powered by the Chiliz token, is one of the major players in the blockchain sports sector.

As one of the leading sports-focused crypto startups, Chiliz is on a mission to transform sports fans from passive watchers to active influencers.

According to its website, the project believes that “passion should be recognised and that every fan has the right to make their voice heard, wherever they are in the world”.

With a unique offering and plenty of impressive partnerships, the crypto gained significant traction in the market throughout 2021.

Despite sliding in price in early 2022, the Chiliz (CHZ) coin gained some momentum in late March. Through April and May, bearish sentiment dragged the price of the token down. Multiple market crashes, catalysed by the demise of Terra Luna and the fall of Three Arrows Capital, saw crypto struggling, with the token consistently trade under the $0.10 mark.

But what precisely does the crypto do? And what can it tell us about a Chiliz price prediction?

Chiliz (CHZ) crypto overview

Founded in 2018 by Alexandre Dreyfus, the Chiliz (CHZ) coin is a digital currency that powers the blockchain network behind the Socios.com fan engagement platform. With more than 20 years of developing and growing web-based companies, Dreyfus wanted to ensure that when it came to Chiliz, it was important to “work harder than ever on our mission to fully establish Fan Tokens as the ultimate fan engagement tool and as a powerful new revenue generator for the sports industry”.

On the Socios.com website, token holders can vote for their favourite sports clubs as well as invest in new sports entities. Token holders thus have a voice when it comes to making decisions, which affects real-world teams and organisations. In turn, sports and entertainment entities can use blockchain tools to monetise existing and new audiences.

Using CHZ, holders can buy branded fan tokens from a range of sports teams, including English Premier League teams like Arsenal and Manchester City, and top European sides such as Barcelona, Juventus, Paris Saint-Germain, AS Roma and Atlético Madrid.

Fan tokens have a finite supply and are team-specific. These tokens are offered on a first-come, first-served basis via a fan token offering (FTO). Upcoming FTOs are advertised on the crypto’s website. They are made available at a fixed price “before they reach the marketplace”, according to the crypto’s website. The fan tokens also provide users with access to an encrypted ledger of voting rights ownership.

In addition, Chiliz (CHZ) crypto tokens can also power the blockchain network that underpins the Socios.com fan engagement platform.

Exploring the Chiliz (CHZ) whitepaper

According to the whitepaper: “Chiliz, powering Socios.com, gives sports and e-sports fans the ability to crowd-manage their favourite teams, games, leagues and events.

“It’s called radical fan engagement: A universal sports and esports ‘crowd-control’ engine capable of giving fans voting rights to guide some of their favourite teams’ management and strategy decisions. Any league, any team and any game, realised with blockchain technology.”

The paper goes on to say: “With Chiliz powering the Socios.com platform, fans can become influencers of any competitive entity. In turn, teams, leagues and events, from any corner of the sports and esports world, can then monetise the fan demand for these voting rights.”

Chiliz (CHZ) crypto – past performance

Before surging in price in 2021, the Chiliz (CHZ) price failed to gain any momentum in the market. For example, on 12 July 2019, the intraday high CHZ price was $0.01789, while on 27 September that same year, the CHZ price hit its all-time low of $0.004001. And by 7 October, the price had risen slightly to an intraday high of $0.0051.

By mid-February 2020, prices had risen modestly to around $0.014 before dropping again to around the $0.006 mark in March and April. But by mid-August 2020, prices were up once more to around the $0.02 level – and by late December 2020, the Chiliz coin’s price had hit $0.028.

Throughout 2021, however, the price of the Chiliz (CHZ) coin skyrocketed. In March 2021, CHZ began to surge before hitting its current all-time high of $0.8915 on 13 March 2021.

Despite dropping throughout the summer of 2021, the price surged again in September to an intraday high of $0.4495 on 6 September before falling back to a low of $0.2437 on 28 September.

The price began to climb again before peaking at $0.5935 on 13 November. This surge was perhaps due to a number of factors, including the launch of live in-game non-fungible tokens (NFTs), newly-released fan tokens, an expanding ecosystem of partners and recent exchange listings for CHZ. The price spike may also be related to Chiliz’s announcement in October that it would invest $60m in the tokenisation of media, entertainment, brands and retail.

However, after this November peak, the coin’s price began to fade, closing at $0.1751 on 27 January 2022.

In February, the coin made a partial recovery, increasing to a daily high of $0.2455 on 10 February 2022. Socios had announced that it had entered into a partnership with the UEFA, which runs European football. The first crypto company to partner with such a major sporting organisation, the partnership, according to a statement on Socios.com’s Medium blog, will confer global licensing partner status on Socios.com, “making it an official licensed product and the official fan token partner of the UEFA Champions league”.

The coin subsequently dropped to a low of $0.1956 on 14 February 2022. Despite rising to the heights of $0.23 on 17 February 2022, the coin soon sank back to an intraday low of $0.1499 on 24 February 2022. The coin then rose again, closing on 1 March 2022 at $0.1953, before surging to an intraday high on 5 March of $0.234.

The coin traded sideways until the latter half of March and subsequently began to rise, surging from lows of $0.2041 on 23 March to a daily high of $0.3287 by 30 March 2022, the highest price recorded so far this year.

The coin fell further in April and May, despite some major developments to the chain, which introduced a DEX and surveys:

The bear market persisted and the token was trading at lows of $0.08135 on 18 June. However, since early July, the token has consistently traded above the $0.10 mark. As of 2 August, the token is worth $0.1393 and trading up nearly 15% in a recent 24-hour window.

As more and more sports teams are looking at accelerating their Web3 and blockchain strategies, Socios has become a major player in the digital asset sphere. Currently crypto’s second-largest sports coin after Flow (FLOW), Chiliz has now purchased a $100m share in Barca Studios, Barcelona FC’s digital content and distribution hub.

The maximum supply of CHZ coins is 8.89 billion, all of which were minted at its launch in 2018. There were no public sales as all coins were distributed between contributors. There is a current circulating supply of six billion.

Chiliz is ranked number 58 by CoinMarketCap and has a current market capitalisation of $832m as of 2 August 2022.

But how do these figures impact a Chiliz coin price prediction? Let’s take a look at what the analysts think…

Chiliz price prediction – expert opinion

While predictions – especially those taking a longer term view – can sometimes be completely off the mark, they are still worth taking into consideration when examining whether the CHZ price will go up or down.

Generally speaking, however, a Chiliz price prediction for 2022 will be more accurate than a Chiliz price prediction for 2030. Instead of being treated as an absolute guarantee of what will happen in the future, these predictions should instead be viewed as possibilities.

Bearing that in mind, let’s look at some expert CHZ price predictions.

Chiliz (CHZ) coin price prediction

A technical analysis published by CoinCodex shows that the coin’s short-term market activity is neutral to bullish, with 19 technical analysis indicators signalling bullish signals, and 12 signalling bearish signals.

Algorithm-based forecasting service WalletInvestor gives a bearish forecast for CHZ. Based on historical data, the website suggests the Chiliz (CHZ) price prediction for 2022 will be $0.01 by the end of the year.

DigitalCoinPrice, in a neutral CHZ coin price prediction, says the token will be worth about $0.23 in one year’s time. The forecasting service puts the average Chiliz price prediction for 2025 at $0.26 for that year, $0.25 for 2026, $0.29 for 2027 and $0.44 for 2028. The Chiliz price prediction for 2030 is $0.63.

According to Gov Capital, the CHZ coin will be worth $0.51 in one year; while in five years’ time, it predicts Chiliz will stand at $3.15.

FAQs

Is Chiliz a good investment?

It might be. Although 2019 and 2020 were fairly uneventful with regard to the token’s price, Chiliz saw bullish trends in 2021. The sports exchange’s native token CHZ has seen a more lacklustre performance throughout the majority of 2022.

It is always important to be cautious when investing. Cryptocurrencies can be highly volatile, and prices can definitely go down as well as up. You need to do your own research and you should never invest more than you can afford to lose.

Will Chiliz reach $10?

It is not impossible, depending on the timescale and volatility of the market. Data from price prediction websites, such as DigitalCoinPrice and Gov Capital, assume an uptrend in the long term.

Should the coin’s price continue in this manner, it has the potential to reach $10, but when that will be is difficult to say. The most optimistic, long-term forecast comes from Gov Capital, which is forecasting a price prediction of $3.15 in five years’ time.

How high can Chiliz go?

Gov Capital predicts the coin could reach $3.15 in August 2027. Other analysts, however, believe the coin will not achieve such a price.

But do remember that the market is highly volatile and a crash is not beyond the realms of possibility. Predictions don’t always come true, and unforeseen events could reshape analysts’ projections – so always do your own research before investing any money.