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Chiliz (CHZ) Token Price Down 5%, Socios Enters in First Partnership with NHL Team

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by John K. Kumi · 3 min read
Chiliz (CHZ) Token Price Down 5%, Socios Enters in First Partnership with NHL Team
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Many price prediction platforms expect a bullish run for CHZ token. WalletInvestor has recently predicted $0.97 as the one-year target price. For a five-year target price, they predicted $3.16. 

Chiliz is one of the most exciting emerging technologies in the cryptocurrency and blockchain industry. For a brief introduction, Chiliz offers a currency option for products and services backed by blockchain. Their main objective is to promote the experience of fans in alternative payment solutions for conventional products, entertainments, etc. This is done through the provision of blockchain-based tools to sports and entertainment platforms in a bid to elevate the engagement and monetization of their audience. It is worth noting that the popular Socios.com fan engagement platform was completely built on the Chiliz blockchain. Not just that, it uses $CHZ as the on-platform currency. And it’s interesting to see how the CHZ token price is changing amid the platform growth.

CHZ Token Price

About three months ago, Chiliz was trading at $0.019. Interestingly, the CHZ token price has surged by 2712% over the period to trade at a current price of $0.55. But right now the price is 5% down. Many price prediction platforms have predicted a bullish run for the asset. Walletinvestor has recently predicted $0.97 as the one-year target price. For a five-year target price, they predicted $3.16.

DigitalCoinPrice has also predicted $0.85 as a short-term price and $.2.5 as the target price in five years. Gov.Capital has also predicted $1.29 as a short-term prediction and $5.35 as a long-term price prediction. FXStreet predicted a near-term downside of 44%. The catalyst for the recent run and the predicted bullish run is their recent partnership deals.

Socios and Its First NHL Partnership

Socios.com, the leading global blockchain provider for the sports and entertainment industry has partnered with the New Jersey Devils of the National Hockey League. The CEO of Chiliz and Socios.com, Alexandre Dreyfus, plan to support the leading sports organizations in audience monetization and engagement.

The likes of FC Barcelona, Paris Saint Germain, AC Milan, and Juventus have all joined the network and have benefitted from their services. “We strongly believe that our technology can support sporting organizations in the US in a similar way and we’re therefore delighted to welcome New Jersey Devils on board as the first team to join our US partnership roster”, said Dreyfus.

The company has disclosed that they are working on dozens of partnerships that will see them collaborate with teams and franchises in a bid to promote their presence in the US and across the globe. When this happens, the price may be largely impacted to a different height.

Recently, Chiliz entered into a partnership with Rakuten Group Inc (TYO: 4755) to enable fans in Spain, Germany, and the UK to use Rakuten points to redeem fan tokens. They have also decided to create a global space where the users of Rakuten and Socios.com can perfectly interface with both platforms.

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John K. Kumi
Author John K. Kumi

Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.

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