Chiliz (CHZ/USD) is essentially a digital currency and platform aimed at sports and entertainment that operates the Socios.com platform.
The CHZ cryptocurrency serves the role of being the platform currency of the blockchain-based Socios.com sports fan engagement platform, where users are given the opportunity to buy tokenized voting rights for their favorite football and esports teams.
The $100 million investment in FC Barcelona’s Barça Studios as a catalyst for growth
Chiliz (CHZ) announced a $100 million investment in FC Barcelona’s Barça Studios for a 24.5% stake in the soccer club’s digital content and distribution hub.
Through this new partnership, the Socios.com platform, as well as Chiliz, will become the technology platform that will boost the club’s blockchain, non-fungible tokens (NFTs), digital assets, as well as Web3 strategies.
This was announced on August 1 by Chiliz directly, where they explained how Barça Studios is leading the club’s creation of NFTS and metaverse project and spearheading FC Barcelona’s digital strategy to ultimately deliver projects which can engage, reward, and build connections with its global fanbase.
This investment is a build-up on a previous and existing partnership with the club, which originally began in February of 2020, with the agreement to launch the BAR Fan Token on Socios.com.
Should you buy Chiliz (CHZ)?
On August 2, 2022, Chiliz (CHZ) had a value of $0.13778.
In order for us to get a better perspective as to what kind of value point this represents for the cryptocurrency, we will be going over its all-time high point of value, as well as its performance throughout the previous month.
The all-time high of the Chiliz (CHZ) cryptocurrency was on March 13, 2021, when it reached a value of $0.878633.
When we go over its performance throughout the previous month, Chiliz (CHZ) had its lowest point of value on July 2 at $0.09379. Its highest point was on July 29 at $0.135.
Here we can see that the cryptocurrency increased in value by $0.04121 or by 44%.
With the cryptocurrency’s recent showcase of growth and with this additional investment in FC Barcelona’s Barça Studios, we can expect CHZ to climb to a value of $0.2 by the end of August 2022, making it a solid token to buy.
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from Market Analysis – Invezz